Azerbaijan


Azerbaijan Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Azerbaijan; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Central Bank of Azerbaijan Republic
International Reserves US$ 10.274 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 72.182 billion (2011 estimate)
GDP (Purchasing Power Parity) 97.172 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
6.5% 8.1% 10.5% 10.2% 26.4% 34.5% 25% 10.8%
2009 2010 2011 2012*
9.3% 5% 0.1% 3.1%

*Estimate

GDP per capita - current prices US$ 7,850 (2009 estimate)
GDP per capita - PPP $10,568 International Dollars (2009 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
N/A N/A 0.05% 0.12% 0.11%

**Forecast

GDP - composition by sector
  • agriculture: 5.5% 
  • industry: 62.7% 
  • services: 31.8% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
1.6%(2008) 5.7% 7.9% 5.6%

*Estimate

Unemployment rate
2009 2010 2011 2012*
6% 6% 6%(2009) 6%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
7.3% 12.1% 11.4% 10.2% 11.2%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
20% 6.8% 14.3% 13.3% 10.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB-

Moody's rating: Baa3

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
N/A N/A N/A
Largest companies in Azerbaijan N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ 15.7 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP 21.8% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

55.1% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.19%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.06% (2011)(2007)

(Data were released in 2012)

Total exports US$30.58 billion (2012 estimate) 
Export commodities oil and gas 90%, machinery, cotton, foodstuffs
Total imports US$10.78 billion (2012 estimate) 
Import commodities machinery and equipment, oil products, foodstuffs, metals, chemicals
Exports - major partners Italy 32.4%, France 13.2%, US 7.5%, Germany 6.2%, Indonesia 5.4%, Czech Republic 5.3% (2011)
Imports - major partners Turkey 18.1%, Russia 15.5%, China 7.8%, Germany 7.2%, UK 6.1%, Ukraine 4.6%, Italy 4.2% (2011)
FDI inflows
2009 2010 2011
US$473 million US$563 million(2009) US$1,465 million(2009)
FDI outflows
2009 2010 2011
US$326 million US$232 million US$533 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$519 million N/A(2009) N/A(2009) US$2 million
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 67 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 18 out of 185 countries(2009)

Enforcing Contracts: 25 out of 185 countries

Registering Property: 9 out of 185 countries

Getting credit: 53 out of 185 countries

Protecting investors: 25 out of 185 countries

Trading across border: 169 out of 185 countries

Paying Taxes: 76 out of 185 countries

Dealing with Construction Permits: 177 out of 185 countries

Getting Electricity: 175 out of 185 countries

Resolving Insolvency: 95 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
46

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 91 Score: 58.9 (Mostly Unfree) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+4
Total area 86,600 km2 (2006)
Capital Baku (Baki, Baky) (2009)
Currency Azerbaijani manats (AZN) (2009)
Government type republic (2009)
Languages Azerbaijani (Azeri) 90.3%, Lezgi 2.2%, Russian 1.8%, Armenian 1.5%, other 3.3%, unspecified 1% (1999 census)
Religions Muslim 93.4%, Russian Orthodox 2.5%, Armenian Orthodox 2.3%, other 1.8% (1995 estimate)
Total population
1980 1990 2000 2012* 2017**
N/A N/A 8.14 million 9.2 million 9.57 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
47.7% 52.8% 51.2% 53.6%
Population median age 30 years (2010)
Population growth rate 1.2% (2011)
Life expectancy 71 years (2010)
Adult literacy 100% (2005/2010)
% of population living on less than $2 a day 7.75% (2011)
Inequality of wealth distribution (Gini index)

33.71 (2008)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:6
Civil Liberties:5 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

126.84% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 50% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Baku: 48th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

5.4127 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2009:
  • COUNTRY WINNERS / Best Consumer Internet Banks Rakbank (National, 2009)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Rakbank (Middle East, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS International Bank of Azerbaijan (National, 2012)
2011:
  • COUNTRY WINNERS AccessBank (Middle East, 2011)
2010:
  • COUNTRY WINNERS International Bank of Azerbaijan (National, 2010)
2009:
  • COUNTRY WINNERS International Bank of Azerbaijan (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE