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Azerbaijan's GDP grows in real terms - Central Bank

18 March 2022 [21:15] - TODAY.AZ

By Azernews

Azerbaijan's GDP from January through February 2022 grew by 6.7 percent in real terms, the Central Bank of Azerbaijan (CBA) told Trend.

According to the CBA, in the reporting period, GDP in the non-oil sector grew by 10.1 percent.

"Economic growth was recorded in all areas of the non-oil sector, including an increase of 19.8 percent in the non-oil industry, 3.1 percent in agriculture and 6.5 percent in construction,” the CBA said. “In general, from January through February 2022 economic growth in the non-oil and gas sector amounted to 14 percent, and in the non-trade sector - 9.2 percent".

Besides, according to the bank, in the first two months of this year, the retail trade turnover increased by three percent, and the volume of paid services provided to the population by five percent.

"In general, during the reporting period, investments in the Azerbaijani economy decreased by 2.1 percent, while investments in the non-oil sector increased by 12.1 percent. By the end of the year, investment demand is expected to fully recover due to state investments," added the CBA.


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