BAKU, Azerbaijan, December 8. One of the most important challenges facing Azerbaijan’s economy is diversification, said Shahmar Movsumov, the Assistant to the President of the Republic of Azerbaijan and Head of the Department for Economic Affairs and Innovative Development Policy of the Presidential Administration, TurkicWorld reports.
Speaking at the "Customs-Business Forum 2025: Dialogue and Trust" in Baku today, Movsumov disclosed the nation's performance metrics in this context.
"The results achieved in this direction are already clearly visible. From 2021 through 2024, the non-oil sector grew by an annual average of 6.7%, and its share in the overall economy increased to 68%. Over the past six years, non-oil exports have almost doubled, which reflects the strengthening competitiveness of our country," he said.
The official highlighted that, attributable to synergistic public-private collaboration frameworks and continuous reform initiatives, the private sector's contribution to the economic landscape has ascended to 81.4%.
