Approach to the Azerbaijan economic structure: non-oil sector
Szent Istvan University, Hungary
PROCEEDINGS of
North International Conference of Economics,
Issue 1 / 2016,
pp.31-43
ISSN 2537-317X
ABSTRACT
The division of Azerbaijan economy to the oil and non-oil sectors has been crucial economic
approach due to the boom in the energy sector during the last decades. However, this division
cannot eliminate the gap between the sectors. The oil sector has dominant position in
Azerbaijan economy. This paper investigates and characterises the potential economic sectors
of the non-oil division in Azerbaijan which can promote the economic growth using the main
indicators and their shares in the gross output. Likewise, this research assesses the efficiency
of the Azerbaijan government in order to foster the percentage of non-oil sector particularly in
the agricultural activities and the development of the regions. The results of the paper asserts
that the falling oil prices and oil production have amplified the share of the non-oil sector in
the economy. The current economic situation reveals the outcomes of the activities by the
Azerbaijan government in the non-oil sector.
Keywords: non-oil GDP, agriculture, industry, trade, tourism.
