Source
Central bank

The Central Bank of the Republic of Azerbaijan

International Reserves

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

Gross Domestic Product - GDP

USD 45.4 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 179.7 billion (2018, estimate)

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

GDP per capita - current prices

USD 4,569.2 (2018, estimate)

GDP per capita - PPP

Intl$ 18,075.9 (2018, estimate)

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

*Estimate

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

(2018 estimate)

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

N/A

 

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

*Estimate

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

*Estimate

Household saving rates

N/A

 

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

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

Government bond ratings

Standard & Poor's: BB+

Moody's: Ba2

Standard & Poor's / Moody's

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

N/A

 
 
Source
Current account balance

USD 6.1 billion (2018 estimate)

Current account balance by percentage of GDP

12.9 % (2018 estimate)

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

54.3% (2018)

Shares in world total merchandising export

0.11% (2018)

Shares in world total commercial services export

0.08% (2018)

Total exports

USD 25.5 billion (2018)

Export commodities

Oil and gas roughly 90%, machinery, foodstuffs, cotton

Total imports

USD 17.7 billion (2018 estimate)

 
 
Source
Import commodities

Machinery and equipment, foodstuffs, metals, chemicals

Exports - major partners

Italy 23.2%, Turkey 13.6%, Israel 6.1%, Russia 5.4%, Germany 5%, Czech Republic 4.6%, Georgia 4.3% (2017)

Imports - major partners

Russia 17.7%, Turkey 14.8%, China 9.9%, US 8.3%, Ukraine 5.3%, Germany 5.1% (2017)

FDI inflows
2016 2017 2018
USD 4,500 million USD 2,867 million USD 1,403 million
FDI outflows
2016 2017 2018
USD 2,574 million USD 2,564 million USD 1,761 million
Value of cross-border M&A, by country of purchaser
2015 2016 2017 2018
USD -458 million USD 106 million N/A USD 277 million
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

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

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

N/A

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

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:

34 out of 190 countries

​Subcategories:
Starting a Business: 9 out of 190 countries
Dealing with Construction Permits: 59 out of 190 countries
Getting Electricity: 80 out of 190 countries
Registering Property: 44 out of 190 countries
Getting Credit: 1 out of 190 countries
Protecting Minority Investors: 105 out of 190 countries
Paying Taxes: 40 out of 190 countries
Trading across Borders: 83 out of 190 countries
Enforcing Contracts: 28 out of 190 countries
Resolving Insolvency: 47 out of 190 countries

Global competitiveness ranking

58 out of 141 countries

(2019)

Index of Economic Freedom

Ranking: 60 / Score: 65.4 (Moderately free)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC+4

Total area

86,600 sq km

Capital

Baku (Baki, Baky)

Currency

Azerbaijani manats (AZN)

Government type

Presidential republic

Languages

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

Religions

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

Total population
1990 2000 2010 2015 2020*
N/A 8.03 million 9 million 9.59 million 10.18 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
52.7% 52.8% 51.4% 55.7%
Population median age

31.7 years 

Population growth rate

0.83% (2018 estimate)

Life expectancy

73 years (2018 estimate)

Literacy

"Total population: 99.8% 
Male: 99.9% 
Female: 99.7%
Definition: age 15 and over can read and write (2016 est.)"

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

Freedom House rating

Not Free
Political Rights: 7
Civil Liberties: 6 (2019)
(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 16.9%

Mobile: 103.9%

(2018)

(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

79.8 % (2018)

Mercer Cost of living index

Baku: 178th (2019)

CO2 emissions

3.93 metric tons per capita (2014)

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