Private sector makes up 83% of GDP, says Deputy Minister

Over the past five years, the non-oil and gas sector of Azerbaijan has grown by approximately 26% in real terms, and the added value generated in this industry has increased 1.5 times.

Azernews reports, this was stated by First Deputy Minister of Economy Elnur Aliyev at the conference titled “Constitution and Sovereignty – Development of Entrepreneurship in Azerbaijan.”

He noted that the Azerbaijani economy has entered a significant new stage of development: “Industrial enterprises and individual entrepreneurs operating in this field produced industrial goods worth 15.8 billion manats in January–March 2025. Production in the non-oil and gas sector increased by 3.5%.”

“Azerbaijan’s strategic foreign exchange reserves have exceeded 73 billion US dollars. These high reserves reflect the country’s economic stability and create an attractive environment for both local and foreign investors. The private sector accounts for 83% of GDP and over 78% of employment,” Aliyev added.