APPROACH TO THE AZERBAIJAN ECONOMIC STRUCTURE: NON-OIL SECTOR

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.