17:42 - 12.10.2026

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October 12, Fineko/abc.az. Since 2020, Azerbaijan's non-oil/gas economy has grown by an average of 5% annually, and in 2025 its share in GDP reached 72%, Economy Minister Mikayil Jabbarov stated at the Azerbaijani-Cambodian Business Forum in Baku.

Azerbaijan's economy is currently managed by the private sector: "The ratio of country's strategic foreign exchange reserves to GDP has exceeded 110% and the external public debt is only 5.6% of GDP."

He noted that over the past 20 years, Azerbaijan has attracted more than $350 bn in investments:

"Half of them are foreign direct investments. The private sector is the main driver of economic growth. Over the past 8 years, we have doubled the number of jobs in this sector. The number of our exporters in the non-oil/gas sector has also doubled over the past 6 years. In addition, the government compensates for up to 70% of transportation and logistics costs of exporters, which allows products manufactured in Azerbaijan to enter foreign markets more competitively."