Azerbaijan GDP Grows 0.3% in January–February

Azerbaijan’s gross domestic product rose 0.3% year-on-year in January–February 2026, edging up from 0.2% in the same period last year. The non-oil and gas sector expanded by 1.4%, while the oil and gas sector declined 1.7%. On the production side, industry remained the largest contributor to GDP, accounting for 32.7%, followed by trade and vehicle repair (11.4%) and transport and warehousing (7.5%). Construction accounted for 3.9%, agriculture, forestry and fishing 3.2%, tourist accommodation and catering 2.8%, and information and communication 2.1%, while other sectors made up 24.1% of the economy. Net taxes on products and imports accounted for 12.3% of GDP.

The economic activity of Azerbaijan rose by 1.7% percent year-on-year in January 2026, reversing a 0.9% decline in the same period last year. The non-oil and gas sector grew by 2.3%, while the oil and gas sector rose by 0.7%. Industry remained the largest contributor to GDP at 33.9%, followed by trade and vehicle repair (11.7%) and transport and warehousing (7.8%). Construction contributed 3.6%, agriculture, forestry and fishing 3.3%, tourist accommodation and catering 2.4%, and information and communication 2.2%, while other sectors represented 23.4%. Net taxes on products and imports accounted for 11.7% of GDP. The Central Bank of Azerbaijan recently revised its 2026 GDP growth forecast upward to 2.4%, compared with its October 2025 projection of 2%. Governor Taleh Kazimov added that growth is expected to reach 2.9% in 2027, with non-oil sector expansion of 4.3%. Azerbaijan’s GDP increased by 1.4% last year.

Azerbaijan’s gross domestic product expanded by 1.4% year-on-year in 2025, slowing from an almost one-year high of 1.6% in the eleven months to November and from a 4.1% rise in 2024. The value added in the oil and gas sector of the economy contracted by 1.6%, while the non-oil and gas sector rose by 2.7%. On the production side, industry was the largest contributor to GDP production, accounting 33%, followed by trade and vehicle repair (11.3%), transport and warehousing (7.1%), construction (6.5%), agriculture, forestry, and fishing (5.9%), tourist accommodation and public catering (2.8%), information and communication (2.1%), other sectors (21.7%), and net taxes on products and imports (9.6%).