Caspian Energy Journal Caspian European Club
Thursday, 11 January 2018 11:00

Azerbaijan’s economy is developing rapidly

Azerbaijan’s economy is developing rapidly

“Azerbaijan’s non-oil sector grew by 2.5% through 2017. The non-oil sector of the industry grew by 3.6% while agriculture grew by 4.1%. A lot of important infrastructure and social projects were implemented in our country last year. Our foreign exchange reserves grew by $4.5bln. Now they make $42bln. Considering the size of the population of our country, I assume Azerbaijan is holding one of the leading positions in the world in terms of the volume of exchange reserves per capita”, President of the Republic of Azerbaijan Ilham Aliyev stated at the meeting of the Cabinet of Ministers dedicated to the results of socioeconomic development of 2017 and objectives for the future, Caspian Energy News ( reports with reference to the press service of the President of Azerbaijan.

“Investments worth $14.6 bln have been made into the economy of the country. Export rose by 19% in 2017 while the non-oil export made 25%. Import grew just by 1%. It is the result of work that has been done. Our population is growing. It increases at least by 100,000 people each year. Consumption is growing, so is the number of tourists. The number of tourists who visited our country last year was 500,000 people higher than in 2016. 221,000 working places were opened in 2017. Of them, 177,000 were permanent working places. 47,000 places were closed in 2016”, the Head of State noted.


More details:

Person in charge of the newsline: Fidan Isayeva

Read 613 times