Azerbaijan’s economy grows 1.2% in January-August

Azerbaijan produced 87.7095 billion manats ($51.6 billion) in gross domestic product (GDP) in January-August 2026.

"Operative Information Center-OMM" reports, citing the State Statistics Committee, that this represented a 1.2% increase in real terms compared with the same period last year.

During the reporting period, value added in the oil and gas sector declined by 0.8%, while the non-oil and gas sector grew by 2.1%.

GDP generated in the oil and gas sector amounted to 26.1819 billion manats ($15.4 billion), while the non-oil and gas sector accounted for 61.5276 billion manats ($36.2 billion) in January-August.

The figures indicate that the non-oil and gas sector remained the main contributor to overall economic growth during the period, helping offset the decline in oil and gas production. Azerbaijan has been pursuing economic diversification to reduce its dependence on hydrocarbon revenues and strengthen activity in sectors such as industry, services, transport and agriculture.