Indicator has risen from $17.8bn in 2019 and $34.9bn in 2023.
Country continues to push its ambition to become a gas re-export hub, but if sanctions on Russia are lifted amid a deal on Ukraine, that hope could fall apart.
Officials use indirect methods to look at the unobservable.
From 2021 to 2024, bank lending grew by 18%, largely driven by a surge in consumer loans.
Azerbaijan's energy sector maintained steady production in 2024, with significant investments directed toward the Shah Deniz gas-condensate field and the Azeri-Chirag-Gunashli oil and gas block, according to BP report.
Wave of optimism said to overcome December slump thanks to strong growth in new orders.
Producers still securing greater volumes of new orders. Near-stabilisation in supply chains.
Trade balance heavily favours Beijing.
Fitch Solutions projects Azerbaijan’s economy will grow by 2.9% annually until 2023, up from an average of 1.7% during 2012-2022.
Broader trend of strengthening demand remains intact. Inflationary pressures remain within manageable levels.
Index ends year at historic high with unmatched gains in production volumes and new orders.
Fresh improvement in underlying trends. Cost pressures remained subdued. New hiring sustained but job creation growth only marginal.
Situation, however, clouded by logistical problems, rising raw material and supply costs and significant depreciation of national currency.