Share of oil and gas and non-oil sectors in structure of GDP equalizes


August 15, Fineko/ Over the six months of 2022, the share of the oil and gas and non-oil sectors in the structure of GDP became equal. The analysis made it possible to say that economic growth is provided by non-oil and gas industries, ABC.AZ reports with reference to the semi-annual data of the Accounts Chamber on the execution of the state budget for 2022.

In the reporting period, economic growth amounted to 6.2%  compared to the corresponding period last year. Amid a 9.6% growth in non-oil and gas industries, a slight increase in oil and gas industries (by 0.2%) reduced the role of the oil factor in economic growth.

The registration of nominal GDP growth in both the oil and non-oil sectors led to an increase in state budget revenues.