Azerbaijan GDP down 0.3% in first quarter, statistics show

Azerbaijan’s gross domestic product stood at 29.7 billion manats in January-March 2026, down 0.3% year-on-year, the State Statistics Committee said.

Value added in the oil and gas sector fell 1.2% to 8.5 billion manats, while the non-oil sector grew 0.2%.

Non-oil industry expanded 7.2% and agriculture rose 1.1%. Retail trade turnover reached 15.9 billion manats.

State budget revenues declined 1.4%, while expenditures fell 3.7%.

Strategic foreign exchange reserves exceeded $85 billion, up 15.9% year-on-year.

Average nominal wages increased 5.3% to 1,099 manats, while inflation stood at 5.7%.

Foreign trade turnover in January-February dropped 23.5%, with exports down 9.6% and imports falling 37.1%.

N.Tebrizli