Azerbaijan GDP Contracts in January-March

Azerbaijan’s gross domestic product recorded a flat reading in January–May 2026, following 1.5% growth in the same period last year. The stagnant performance was mainly driven by the oil and gas sector, which contracted 1.0%, worsening from a 0.9% decline last month, while growth in the non-oil and gas sector slowed to 0.4% from 0.7%. On the production side, industry remained the largest contributor to GDP, accounting for 36.3%, followed by trade and vehicle repair (10.5%), transport and warehousing (7.4%). Construction accounted for 4.6% of the economy, agriculture, forestry, and fishing for 4.2%, tourist accommodation and catering for 2.9%, and information and communication for 2%, while other sectors made up 22.8% of the economy. Net taxes on products and imports accounted for 9.3% of the GDP.

Azerbaijan’s gross domestic product rose by 0.2% year-on-year in January–April 2026, slowing from a 0.9% expansion in the same period last year. The weaker growth was mainly driven by the oil and gas sector, which contracted by 0.9%, while the non-oil and gas sector expanded by 0.7%. On the production side, industry remained the largest contributor to GDP, accounting for 35.7%, followed by trade and vehicle repair (10.6%) and transport and warehousing (7.3%). Construction accounted for 4.9% of the economy, agriculture, forestry, and fishing for 3.5%, tourist accommodation and catering for 3.0%, and information and communication for 2.1%, while other sectors made up 22.8% of GDP. Net taxes on products and imports accounted for 10.1% of the economy.

Azerbaijan’s gross domestic product fell 0.3% year-on-year in January-March 2026, reversing a 0.3% growth in the same period last year. This marked the lowest reading since January 2025, as the oil and gas sector contracted by 1.2%, while the non-oil and gas sector expanded by 0.2%. On the production side, industry remained the largest contributor to GDP, accounting for 33.5%, followed by trade and vehicle repair (11.3%), and transport and warehousing (7.1%). Construction accounted for 4.6%, agriculture, forestry and fishing 3.3%, tourist accommodation and catering 3.2%, information and communication 2%, while other sectors made up 23.3% of the economy. Net taxes on products and imports accounted for 11.7% of GDP.