World Bank Reveals Forecasts For Azerbaijan’s GDP Growth By 2028

(MENAFN- Trend News Agency)
BAKU, Azerbaijan, June 13. The World Bank
expects Azerbaijan’s GDP growth to stand at 2.3 percent in 2027,
Trend reports.

In June 2025 edition of Global Economic Prospects, the World
Bank has lowered its forecasts for the country’s GDP growth by 0.1
percentage points for 2025. As such, it will stand at 2.6 percent.
This is while the projections for 2026 have remained unchanged at
2.4 percent.

“Growth in Azerbaijan is expected to be affected by declining
oil production alongside weakening global demand and lower oil
prices,” said the Bank.

The WB estimates the country’s GDP growth in 2022, 2023 and 2024
at 4.6 percent, 1.1 percent and 4.1 percent, respectively.

The report released by the State Statistics Committee reveals
that Azerbaijan GDPworth 39.3 billion manat ($23.1 billion) from
January through April 2025, which is 0.9 percent more compared to
the same period last year.

The value added in the oil and gas sector decreased by 3.5
percent, while the non-oil and gas sector grew by 3.3 percent.

GDP distribution by sectors is as follows: 37.3 percent in
industry, 9.9 percent in trade and vehicle repair, 7 percent in
transportation and storage, 5.9 percent in construction, 3.3
percent in agriculture, forestry, and fishing, 2.8 percent in
accommodation and food services, and 1.8 percent in information and
communication. The remaining 21.7 percent came from other sectors.
Net taxes on products and imports accounted for 10.3 percent of
GDP.

GDP per capita amounted to 3,842 manat ($2,259).

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