BAKU, Azerbaijan, September 21. Azerbaijan’s economy continued to show growth from January through August 2026. During the reporting period, the country’s gross domestic product (GDP) amounted to 87.7 billion manat ($51.6 billion), indicating continued economic activity and development of the real sector. This figure is 1.2% higher than in the same period last year.
The non-oil and gas sector remained the main driver of the economy’s value-added potential. The value of non-oil and gas GDP amounted to 61.5 billion manat ($36.2 billion), up 2.1% compared to the same period last year.
Within GDP, the total value of non-oil and gas industrial output increased by 5.4% to 14.6 billion manat ($8.6 billion), the total value of agricultural output rose by 2.6% to 10.1 billion manat ($5.9 billion), the total value of transport and warehousing services grew by 8.7% to 10.9 billion manat ($6.4 billion), and the total value of information and communication services increased by 10.7% to 2.7 billion manat ($1.6 billion).
Thus, the dynamics observed in the non-oil and gas sector cover several areas: expansion of industrial production, growth in agricultural value added, development of transport and logistics capabilities, and expansion of information and communication services.
In the mining sector, one of the key areas of the non-oil and gas industry, the total value of output amounted to 26.9 billion manat ($15.8 billion) from January through August this year. This figure demonstrates the significant share the mining sector holds in industrial production. The development of the sector facilitates the more efficient use of the country's natural resources in economic activity, strengthens the supply of raw materials to industrial enterprises, and fosters the creation of new production capabilities. Furthermore, closely integrating the raw material base established in the mining industry with the manufacturing sector is crucial for increasing value-added in the non-oil and gas industry and strengthening economic diversification.
From January through August 2026, products worth 14.9 billion manat ($8.8 billion) were manufactured and industrial services were provided in the processing sector. The expansion of production in the processing sector not only increases domestic production capacity but also creates a basis for bringing finished products to the domestic market and expanding export opportunities. In this regard, converting the production volume generated in manufacturing into trade turnover and access to foreign markets is important for increasing value added in the non-oil and gas sector.
In the first 8 months of 2026, information and communication services rose by 10.7% to 2.7 billion manat ($1.6 billion), indicating the development of the services sector in the non-oil and gas economy.
Agriculture is one of the key areas of the non-oil and gas sector. From January through August 2026, agricultural output increased by 2.6% to 10.1 billion manat ($5.9 billion), indicating growth in the agricultural sector. The development of agriculture is directly linked to manufacturing, food production, logistics, and export opportunities. In other words, processing a larger share of the value added created in agriculture domestically enables the formation of longer and more sustainable value chains in the non-oil and gas sector.
The 8.7% growth in transport and warehousing is also noteworthy in this regard. During the reporting period, the sector’s total value reached 10.9 billion manat ($6.4 billion), highlighting the growing role of Azerbaijan’s production, trade, and transit capabilities in economic growth.
The expansion of production in industry and agriculture requires greater logistics capacity to bring products to domestic and foreign markets. Alongside the expansion of economic activity across various sectors, ensuring the sustainability of this growth amid macroeconomic stability is also important. In this regard, maintaining financial stability also plays an important role.
Another key indicator of economic activity is the country’s foreign trade dynamics. In January-August this year, Azerbaijan conducted $33.2 billion worth of trade operations with foreign countries, up 3.5% compared to the same period last year. Exports accounted for $21.8 billion of foreign trade turnover, while imports amounted to $11.4 billion. Over the past year, exports increased by 27.8%, while imports decreased by 24.1%. As a result, foreign trade generated a positive balance of $10.4 billion, 5.2 times higher than a year earlier. In particular, faster growth in exports than imports ensured a positive shift in the foreign trade balance. Overall, the January-August 2026 figures show that exports further strengthened their dominant position in Azerbaijan’s foreign trade.
Thus, the results for January-August 2026 show that Azerbaijan’s economy maintained its growth momentum, while the non-oil and gas sector became one of the main drivers of economic activity.
