Economy - overview:
Azerbaijan's high economic growth during 2006-08 was attributable to large and growing oil exports, but some non-export sectors also featured double-digit growth, spurred by growth in the construction, banking, and real estate sectors. In 2009, economic growth remained above 9% even as oil prices moderated and growth in the construction sector cooled. In 2011, economic growth slowed to 0.2%, although the impact of the global financial crisis was less severe than in many other countries in the region. The current global economic slowdown presents some challenges for the Azerbaijani economy as oil prices remain below their mid-2008 highs, highlighting Azerbaijan's reliance on energy exports and lackluster attempts to diversify its economy. Azerbaijan's oil production increased dramatically in 1997, when Azerbaijan signed the first production-sharing arrangement (PSA) with the Azerbaijan International Operating Company. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline remain the main economic driver while efforts to boost Azerbaijan's gas production are underway. However, Azerbaijan has made only limited progress on instituting market-based economic reforms. Pervasive public and private sector corruption and structural economic inefficiencies remain a drag on long-term growth, particularly in non-energy sectors. Several other obstacles impede Azerbaijan's economic progress: the need for stepped up foreign investment in the non-energy sector and the continuing conflict with Armenia over the Nagorno-Karabakh region. Trade with Russia and the other former Soviet republics is declining in importance, while trade is building with Turkey and the nations of Europe. Long-term prospects will depend on world oil prices, the location of new oil and gas pipelines in the region, and Azerbaijan's ability to manage its energy wealth to promote sustainable growth in non-energy sectors of the economy and spur employment.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: 1) The information regarding Azerbaijan on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Azerbaijan Economy 2012 information contained here. All suggestions for corrections of any errors about Azerbaijan Economy 2012 should be addressed to the CIA.
$93.02 billion (2011 est.)
country comparison to the world: 76
note: data are in 2011 US dollars
[see also: GDP country ranks ]
$68.5 billion (2011 est.)
[see also: GDP (official exchange rate) country ranks ]
0.2% (2011 est.)
country comparison to the world: 195
[see also: GDP - real growth rate country ranks ]
$10,200 (2011 est.)
country comparison to the world: 107
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 5.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 62.7%
[see also: GDP - composition by sector - industry country ranks ]
services: 31.8% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]
6.119 million (2011 est.)
country comparison to the world: 64
[see also: Labor force country ranks ]
agriculture: 38.3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 12.1%
[see also: Labor force - by occupation - industry country ranks ]
services: 49.6% (2008)
[see also: Labor force - by occupation - services country ranks ]
1% (2011 est.)
country comparison to the world: 5
[see also: Unemployment rate country ranks ]
11% (2009 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 3.4%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27.4% (2008)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
33.7 (2008)
country comparison to the world: 96
[see also: Distribution of family income - Gini index country ranks ]
17% of GDP (2011 est.)
country comparison to the world: 151
[see also: Investment (gross fixed) country ranks ]
revenues: $7.784 billion
[see also: Budget revenues country ranks ]
expenditures: $20.56 billion (2011 est.)
[see also: Budget expenditures country ranks ]
11.4% of GDP (2011 est.)
country comparison to the world: 202
[see also: Taxes and other revenues country ranks ]
-18.7% of GDP (2011 est.)
country comparison to the world: 210
[see also: Budget surplus (+) or deficit (-) country ranks ]
4.7% of GDP (2011 est.)
country comparison to the world: 134
[see also: Public debt country ranks ]
7.8% (2011 est.)
country comparison to the world: 168
[see also: Inflation rate (consumer prices) country ranks ]
3% (31 December 2010 est.)
country comparison to the world: 109
note: this is the Refinancing Rate, the key policy rate for the National Bank of Azerbaijan
[see also: Central bank discount rate country ranks ]
19.4% (31 December 2011 est.)
country comparison to the world: 17
[see also: Commercial bank prime lending rate country ranks ]
$9.235 billion (31 December 2011 est.)
country comparison to the world: 76
[see also: Stock of narrow money country ranks ]
$14.27 billion (31 December 2011 est.)
country comparison to the world: 95
[see also: Stock of broad money country ranks ]
$12.3 billion (31 December 2011 est.)
country comparison to the world: 90
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
cotton, grain, rice, grapes, fruit, vegetables, tea, tobacco; cattle, pigs, sheep, goats
petroleum and natural gas, petroleum products, oilfield equipment; steel, iron ore; cement; chemicals and petrochemicals; textiles
-3% (2011 est.)
country comparison to the world: 158
[see also: Industrial production growth rate country ranks ]
22.55 billion kWh (2008 est.)
country comparison to the world: 67
[see also: Electricity - production country ranks ]
18.8 billion kWh (2008 est.)
country comparison to the world: 70
[see also: Electricity - consumption country ranks ]
812 million kWh (2008 est.)
[see also: Electricity - exports country ranks ]
596 million kWh (2008 est.)
[see also: Electricity - imports country ranks ]
1.041 million bbl/day (2010 est.)
country comparison to the world: 22
[see also: Oil - production country ranks ]
104,000 bbl/day (2010 est.)
country comparison to the world: 73
[see also: Oil - consumption country ranks ]
651,700 bbl/day (2009 est.)
country comparison to the world: 25
[see also: Oil - exports country ranks ]
1,439 bbl/day (2009 est.)
country comparison to the world: 188
[see also: Oil - imports country ranks ]
16.52 billion cu m (2009 est.)
country comparison to the world: 32
[see also: Natural gas - production country ranks ]
10.59 billion cu m (2009 est.)
country comparison to the world: 45
[see also: Natural gas - consumption country ranks ]
5.93 billion cu m (2009 est.)
country comparison to the world: 27
[see also: Natural gas - exports country ranks ]
0 cu m (2009 est.)
country comparison to the world: 149
[see also: Natural gas - imports country ranks ]
849.5 billion cu m (1 January 2011 est.)
country comparison to the world: 27
[see also: Natural gas - proved reserves country ranks ]
$11.12 billion (2011 est.)
country comparison to the world: 27
[see also: Current account balance country ranks ]
$23.48 billion (2011 est.)
country comparison to the world: 71
[see also: Exports country ranks ]
oil and gas 90%, machinery, cotton, foodstuffs
Italy 26.8%, US 8.4%, Germany 7.1%, France 6.7%, Czech Republic 4.9%, Russia 4.4% (2010)
$7.083 billion (2011 est.)
country comparison to the world: 108
[see also: Imports country ranks ]
machinery and equipment, oil products, foodstuffs, metals, chemicals
Turkey 17.7%, Russia 14.5%, Germany 9.9%, China 9.6%, UK 7.2%, Ukraine 7% (2010)
$7.146 billion (31 December 2011 est.)
country comparison to the world: 80
[see also: Reserves of foreign exchange and gold country ranks ]
$3.886 billion (31 December 2011 est.)
country comparison to the world: 126
[see also: Debt - external country ranks ]
$9.631 billion (31 December 2011 est.)
country comparison to the world: 81
[see also: Stock of direct foreign investment - at home country ranks ]
$6.34 billion (31 December 2011 est.)
country comparison to the world: 59
[see also: Stock of direct foreign investment - abroad country ranks ]
Azerbaijani manats (AZN) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12