12:05 - 28.04.2026

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April 28, Fineko/abc.az. Analysts expect growth to accelerate again in 2026, ABC.AZ reports, referring to Fitch.

According to Fitch Ratings’ assessments, the share of the non-oil sector in the economy remains volatile and largely dependent on oil prices. This share declined by 9 percentage points from its peak of 63.5% in 2015, as oil prices reached their highest level in 14 years in 2022.

The agency notes that the contribution of the services sector, particularly information and communication technologies and tourism, is increasing. Both sectors added 0.2 percentage points to economic growth in 2025.

Analysts emphasize that Azerbaijan’s strategic geographic position, including its major port on the Caspian Sea, has increased the country’s importance as a transit hub within the Middle Corridor. Since the start of the war in Ukraine, the volume of land cargo transportation has more than doubled, reaching an average of 27% of service exports in 2022–2024, with its share in GDP rising to 2.3%.