U.s. Department of Commerce

Business Opportunities in Azerbaijan U.s. Department of Commerce

Azerbaijan?s economy continues to grow but the rate of growth has leveled off compared with previous years. Oil and gas remain the drivers of economic activity in Azerbaijan and are directly responsible for half of the country?s GDP, which grew from 68.7 billion USD in 2012 to 73.1 billion in 2013. In recent years, non-energy sectors of the economy have grown faster than the energy sector, but no other single sector approaches the importance of energy. The Government of Azerbaijan has declared the non-oil sectors of agriculture, information/communication technology, transport, and tourism to be priority sectors in diversifying Azerbaijan?s economy away from oil and gas. Signs of economic growth abound and construction of new roads, bridges, luxury hotels, and shopping malls are widespread.