In Azerbaijan, the share of the non-oil and gas sector in the Gross Domestic Product (GDP) has surpassed 70 percent, marking a significant milestone in the country's economic diversification strategy.
According to the "Operative Information Center-OMM", President Ilham Aliyev announced these figures during the opening ceremony of the Islamic Development Bank (IsDB) Group's 2026 Annual Meetings held in Baku.
The head of state emphasized the stability of the Azerbaijani economy, noting: "We have been able to attract over $350 billion in direct investments into the country's economy. Half of these investments came from foreign sources. This has occurred over the last 20 years. Our investments and plans are ongoing. Today, investors are looking for more stable locations."
President Ilham Aliyev stressed that the number of stable investment destinations is not increasing globally: "This is the reality of today. A favorable investment climate, the protection of investments, appropriate legislation, and successfully implemented projects allow us to attract investments into both energy and non-energy sectors. This is one of our priorities. We discussed this with the Islamic Development Bank 16 years ago. Today, the situation is changing. The share of the non-oil and gas sector in Azerbaijan's GDP is now over 70 percent. This is a remarkable achievement."
The Islamic Development Bank Group's Annual Meetings serve as a premier platform for member countries to discuss economic development, financial cooperation, and sustainable growth strategies. Azerbaijan has been a member of the IsDB since 1992, and the hosting of these meetings underscores the country's growing role as a regional hub for international financial cooperation and its commitment to fostering non-oil sector growth.
