“Economic growth in Azerbaijan accelerated in 2024 due to increased domestic demand and the development of the non-oil sector. The growing global demand for Azerbaijani natural gas is expected to continue supporting GDP growth in 2025,” the report states.
For 2026, the UN also forecasts GDP growth in Azerbaijan at 3%.
According to UN estimates, Azerbaijan’s GDP grew by 4.6% in 2024 after a 1.1% increase in 2023.
The UN predicts annual average inflation in Azerbaijan to be 3.6% in 2025. According to their estimates, annual inflation slowed to 3.7% in 2024 from 8.8% in 2023.
The organization expects inflation in the country to slow further to 3.1% in 2026.
