“Last year, inflows from the non-oil-and-gas private sector accounted for 76 percent of the sector’s overall inflows. In 2025, investments in fixed capital directed to the non-oil-and-gas private sector increased by 11.1 percent, while investments in fixed capital from foreign sources rose by 24 percent,” Azerbaijan’s Minister of Economy Mikayil Jabbarov said during the Tax Forum.

According to the minister, investments in the non-oil-and-gas industry increased by up to 26 percent.

“Between 2021 and 2025, value added in this field grew by an average of 8 percent annually. As a result of these factors, the share of the non-oil-and-gas sector in GDP rose from 58.3 percent in 2018 to 71.5 percent in 2025. Economic diversification forms the basis of our strategic goals. The non-oil-and-gas sector has already become the main driver of economic growth,” Mikayil Jabbarov added.

“From 2021 to 2025, the average annual real growth of GDP in the non-oil-and-gas sector, at 5.9 percent, was the main source of economic expansion. The private sector plays a major role in economic diversification, and active state support for this area continues. In recent years, most state support for the private sector has taken the form of tax and customs concessions. This strategic approach has yielded positive results, reflected in significant qualitative and structural changes in the national economy, as well as in the increased share of private sector tax revenues,” the minister noted.