GDP (annual) in Azerbaijan

Annual Gross Domestic Product (GDP) measures the value of all final goods and services produced in Azerbaijan over a year. It is the broadest gauge of its economy, published by the State Statistical Committee of Azerbaijan.

It is estimated from the expenditure, output and income sides under international standards, distinguishing the oil-and-gas sector from the non-oil sector. It is released in real terms, with the usual reading being the year-on-year (YoY) change in GDP.

It reflects the pulse of an economy heavily reliant on oil and gas; non-oil GDP is watched as a diversification gauge. A weak reading pressures public finances and the currency (the manat), and shapes the policy of the Central Bank of Azerbaijan.

It is released with a lag and subject to revisions, with figures swinging sharply with hydrocarbon output and prices. Statistical quality and transparency are lower than in advanced economies, so data should be interpreted with caution.