Azerbaijan's non-oil industry grows by 50% over past five years

Azerbaijan's non-oil industry has grown by 50% over the past five years, Economy Minister Mikayil Jabbarov said at the 2nd Azerbaijan International Investment Forum (AIIF 2026) in Baku, Report informs.

The minister emphasized that Azerbaijan's non-oil and gas economy will reach 82% by 2030:

"Last year, Azerbaijan's non-oil and gas economy accounted for 71% of GDP. Between 2021 and 2025, real growth in the non-oil and gas sector averaged 6% annually, the non-oil industry grew by 50%, and non-oil and gas exports nearly doubled. The key priority is to transform the country's economy into a diversified, export-oriented model led by the private sector, moving from transport corridors to economic corridors."

Touching on transit and logistics potential, the minister said that Azerbaijan has become an international transport hub:

"According to World Bank estimates, the right investments and efficiency measures could triple trade flows along the Middle Corridor and halve transit times by 2030. Our goal is to ensure that routes passing through Azerbaijan are not only safe, but also competitive in terms of cost and time."