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Azerbaijan GDP and Economic Data

Country Report 2017 - Includes Azerbaijan real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.

Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Azerbaijan economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Azerbaijan best banks and safest banks are also available.

 
 
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Central bank

The Central Bank of the Republic of Azerbaijan

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International Reserves

USD 6.7 billion (2018)
World Bank, data retrieved October 2019

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Gross Domestic Product - GDP

USD 45.4 billion (2018, estimate)

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GDP (Purchasing Power Parity)

Intl$ 179.7 billion (2018, estimate)

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Real GDP growth
2007 2008 2009 2010 2011 2012 2013
25.5% 10.6% 9.4% 4.8% -1.6% 2.2% 5.8%
2014 2015 2016 2017* 2018*    
2.8% 1.1% -3.1% 0.1% 1.4%    

*Estimate

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GDP per capita - current prices

USD 4,569.2 (2018, estimate)

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GDP per capita - PPP

Intl$ 18,075.9 (2018, estimate)

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GDP (PPP) - share of world total
1980 1990 2000 2010 2019*
N/A N/A 0.06% 0.16% 0.13%

*Estimate

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GDP - composition by sector
  • agriculture: 5.3% 
  • industry: 52.2% 
  • services: 35.2%

(2018 estimate)

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Gross domestic expenditure on R&D; (% of GDP)

N/A

 

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Inflation
2015 2016 2017 2018* 2019*
4% 12.4% 12.8% 2.3% 2.8%

*Estimate

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Unemployment rate
2015 2016 2017 2018* 2019*
5% 5% 5% 5% 5%

*Estimate

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Household saving rates

N/A

 

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Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018* 2019*
18% 20.6% 22.5% 18.8% 19.7%

*Estimate

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Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018* 2019*
-4.8% -1.1% -1.4% -5.6% -5.3%

*Estimate

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Government bond ratings

Standard & Poor's: BB+

Moody's: Ba2

Standard & Poor's / Moody's

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Market value of publicly traded shares
2016 2017 2018
N/A N/A N/A
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Largest companies

N/A

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Current account balance

USD 1.2 billion (2017 estimate)

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Current account balance by percentage of GDP

3.1% (2017 estimate)

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Exports as percent of GDP (Exports of goods and services)

37.8% (2015)

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Shares in world total merchandising export

0.09% (2015)

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Shares in world total commercial services export

0.09% (2015)

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Total exports

USD 12.5 billion (2016 estimate)

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Export commodities

Oil and gas 90%, machinery, foodstuffs, cotton

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Total imports

USD 7.7 billion (2016 estimate)

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Import commodities

Machinery and equipment, foodstuffs, metals, chemicals

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Exports - major partners

Italy 26.3%, Germany 13.3%, Indonesia 7%, France 6.9%, Czech Republic 6% (2015)

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Imports - major partners

Russia 19.9%, Turkey 16.5%, UK 8.6%, Germany 6.6%, Italy 6.3%, US 4.1% (2015)

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FDI inflows
2013 2014 2015
USD 2,632 million USD 4,430 million USD 4,048 million
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FDI outflows
2013 2014 2015
USD 1,490 million USD 3,230 million USD 3,260 million
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Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
USD 747.8 million N/A USD 255.6 million USD -457.6 million
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Cross-border M&A deals worth over $3 billion completed in 2014

N/A

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

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Cross-border M&A deals worth over $3 billion completed in 2015

N/A

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

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Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking: 65 out of 190 countries (2016)

Subcategories:

Starting a business: 5 out of 190 countries

Enforcing Contracts: 44 out of 190 countries

Registering Property: 22 out of 190 countries

Getting credit: 118 out of 190 countries

Protecting investors: 32 out of 190 countries

Trading across border: 83 out of 190 countries

Paying Taxes: 40 out of 190 countries

Dealing with Construction Permits: 127 out of 190 countries

Getting Electricity: 105 out of 190 countries

Resolving Insolvency: 86 out of 190 countries

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Global competitiveness ranking

37 out of 138 countries

(2016-2017)

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Index of Economic Freedom

Ranking: 91 / Score: 60.2 (Moderately free) (2017)

(100=totally free 0=totally repressed)

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Time zone

UTC+4

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Total area

86,600 sq km

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Capital

Baku

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Currency

Azerbaijani manats (AZN)

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Government type

Presidential republic

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Languages

Azerbaijani (Azeri) (official) 92.5%, Russian 1.4%, Armenian 1.4%, other 4.7% (2009 est.)

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Religions

Muslim 96.9% (predominantly Shia), Christian 3%, other <0.1, unaffiliated <0.1 (2010 est.)

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Total population
1990 2000 2010 2016* 2021*
N/A 8.139 million 9.049 million 9.492 million 9.878 million

*Estimate

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Urban population as % of total population
1960 1980 2000 2015
53% 53% 51% 55%
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Population median age

30.9 years (2016 estimate)

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Population growth rate

0.92% (2016 estimate)

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Life expectancy

72.5 years (2016 estimate)

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Literacy

Total population: 99.8%
Male: 99.9%
Female: 99.8% (2015 est.)

(age 15 and over can read and write) 

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% of population living on less than $3.10 a day

N/A

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Inequality of wealth distribution (Gini index)

N/A

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Freedom House rating

Political Rights: 7
Civil Liberties: 6 (2017)

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

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Total telephone subscribers as % of population

Fixed 18.68%   Mobile 111.28% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)

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Internet users as % of total population

77% (2015)

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Mercer Cost of living index

Baku: 172nd (2016) 

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CO2 emissions

3.8 (2013)

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World's Best Developed & Emerging Markets Banks

2013
2012
2011
2010
2009

World's Best Internet Banks

2009

World's Best Banks By Region

2014
2013
2012
2011
2003

World's Best Banks

2014
2013
2013

Best of…

2012
2009
2005
2004

Additional Awards

2018
2014
2009
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