The non-oil industry holds promising prospects for economic contribution in the coming years. By 2024, it is projected to add 7.2 billion manat, equivalent to $4.24 billion, to the total GDP which represents 6.1 percent of the overall GDP. This contribution is anticipated to further rise to 8.1 billion manat in 2025. The forecast underscores the increasing importance of the non-oil industry and its potential to significantly bolster the economy.
1. The non-oil industry is projected to make a significant economic contribution in the coming years.
2. By 2024, this industry is anticipated to add 7.2 billion manat, or $4.24 billion, to the total GDP - representing 6.1 percent of the overall GDP.
3. This contribution is projected to rise further to 8.1 billion manat ($4.76 billion) in 2025, accounting for 6.8 percent of the overall GDP.
4. The growth in the non-oil industry signals a substantial acceleration compared to previous years, potentially improving the economy's resilience and reducing dependence on oil.
5. The potential success of the non-oil industry represents a significant development in the pursuit of sustainable and diversified economic models, moving away from traditional oil and gas resources.
By 2024, the non-oil industry is projected to contribute 7.2 billion manat, equivalent to $4.24 billion, to the total GDP, representing 6.1 percent of the overall GDP, and increase to 8.1 billion manat in 2025.
In comparison to previous years, these projections signal a substantial acceleration in the growth of the non-oil industry. Such an increase could dramatically improve the economy's resilience and dependence on oil, offering a more sustainable, diversified, and balanced economic framework in the long term. This is a crucial development as countries across the world grapple with finding sustainable ways to power their economies outside of traditional oil and gas resources. $4.24 billion in 2024, growing to $4.76 billion in 2025, is a sizeable contribution to the total GDP, accounting for 6.1 percent and then 6.8 percent of the overall GDP respectively. These figures shed light on the potential for robust economic health and progress in the forthcoming years.