Speaking at the 80th anniversary meeting of the National Academy of Sciences, President Ilham Aliyev also shared his views on Azerbaijan's economic indicators. The head of state stated that the modest growth of the gross domestic product is due to the decline in oil production caused by objective reasons, noting that the leading driving force of our economy is the non-oil sector.
In his explanation to Medianews.az regarding the issue, economist deputy Vuqar Bayramov said, that in the first 9 months of 2025, Azerbaijan's gross domestic product increased by 1.3 percent: "Growth in the non-oil and gas sector was 2.9 percent. This means that the growth in the non-oil sector exceeds the overall economic growth by 2 times. This indicates that the non-oil sector has become the main driver of economic development. During this period, the added value in the oil and gas sector decreased by 1.9 percent. As can be seen, despite the decline in the oil sector, the overall economic growth rate is maintained thanks to the non-oil sector.
Regarding the decline in the energy sector, this is mainly due to the decrease in oil production. Indeed, during the specified period, the output of marketable oil in the mining sector decreased by 4.6 percent, while gas production increased by 2.8 percent. Therefore, changes in the energy balance are observed, and gas production maintains its growth dynamics.
Alongside all these, the deepening of reforms related to economic diversification is becoming an even higher priority. Reforms aimed at cleaning up the economy and increasing transparency create new opportunities for the development of the real sector."
Naile Gasimova,
Medianews.az
