Construction sector to grow in Azerbaijan in 2022-2025

Optimistic forecasts regarding the construction sector of Azerbaijan have been sounded.

ABC.AZ reports that in 2022-25 the construction sector is projected to grow by an average of about 3%. This is reflected in the concept and forecast indicators of economic and social development of the State Budget of Azerbaijan for 2022 and for the next three years. Income of AZN 13.768 bn is expected in the domestic construction sector of Azerbaijan in 2021.

Growth on this industry is forecasted to be 2.9% in 2022, 2.8% in 2023, 2.9% in 2024, and 3.3% in 2025. This figure will reach AZN 14.413 bn in 2023, AZN 15.113 bn in 2024, and AZN 15.883 bn in 2025. Probably, in 2022-25 the revenues of the construction sector will amount to about AZN 60 bn (AZN 59.179 bn). In the next 4 years the share of annual value added in the sector is forecasted to be 43.4%.