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Azerbaijan Economy 2015

SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES











Azerbaijan Economy 2015
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on June 23, 2014

Economy - overview:
Azerbaijan's high economic growth has been attributable to large and growing oil and gas exports, but some non-export sectors also featured double-digit growth, including construction, banking, and real estate. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline, the Baku-Novorossiysk, and the Baku-Supsa pipelines remain the main economic driver, but efforts to boost Azerbaijan's gas production are underway. The eventual completion of the geopolitically important Southern Gas Corridor between Azerbaijan and Europe will open up another, albeit, smaller source of revenue from gas exports. 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, including 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 depend on world oil prices, Azerbaijan's ability to negotiate export routes for its growing gas production, and its ability to use its energy wealth to promote growth and spur employment in non-energy sectors of the economy.

GDP (purchasing power parity):
$102.7 billion (2013 est.)
country comparison to the world: 75

$97.04 billion (2012 est.)
$94.98 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$76.01 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5.8% (2013 est.)
country comparison to the world: 40

2.2% (2012 est.)
0.1% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$10,800 (2013 est.)
country comparison to the world: 114

$10,500 (2012 est.)
$10,400 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
41% of GDP (2013 est.)
country comparison to the world: 10

44.4% of GDP (2012 est.)
45.1% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 41.4%
government consumption: 10.5%
investment in fixed capital: 23.3%
investment in inventories: 0.1%
exports of goods and services: 49.9%
imports of goods and services: -25.2%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 6.2%
industry: 63%
services: 30.8% (2013 est.)

Agriculture - products:
cotton, grain, rice, grapes, fruit, vegetables, tea, tobacco; cattle, pigs, sheep, goats

Industries:
petroleum and petroleum products, natural gas, oilfield equipment; steel, iron ore; cement; chemicals and petrochemicals; textiles

Industrial production growth rate:
3% (2013 est.)
country comparison to the world: 100
[see also: Industrial production growth rate country ranks ]

Labor force:
4.68 million (2012 est.)
country comparison to the world: 83
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 38.3%
industry: 12.1%
services: 49.6% (2008)

Unemployment rate:
6% (2013 est.)
country comparison to the world: 60

5.7% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
6% (2012 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 3.4%
highest 10%: 27.4% (2008)

Distribution of family income - Gini index:
33.7 (2008)
country comparison to the world: 98

36.5 (2001)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $27.61 billion
expenditures: $27.24 billion (2013 est.)

Taxes and other revenues:
36.3% of GDP (2013 est.)
country comparison to the world: 60
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0.5% of GDP (2013 est.)
country comparison to the world: 34
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
7.5% of GDP (2013 est.)
country comparison to the world: 153

7.8% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
2.4% (2013 est.)
country comparison to the world: 91

1.1% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
5% (31 December 2012 est.)
country comparison to the world: 65

5.25% (31 December 2011 est.)
note: this is the Refinancing Rate, the key policy rate for the National Bank of Azerbaijan
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
17% (31 December 2013 est.)
country comparison to the world: 20

18.5% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$17.17 billion (31 December 2013 est.)
country comparison to the world: 66

$14.15 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$21.88 billion (31 December 2013 est.)
country comparison to the world: 83

$17.59 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$21.76 billion (31 December 2013 est.)
country comparison to the world: 80

$17.01 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$13.28 billion (2013 est.)
country comparison to the world: 20

$14.98 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$34.46 billion (2013 est.)
country comparison to the world: 63

$32.63 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
oil and gas 90%, machinery, cotton, foodstuffs

Exports - partners:
Italy 25%, Indonesia 11.6%, Thailand 7%, Germany 5.7%, Israel 5.3%, France 4.7%, India 4.6%, Russia 4.5%, USA 4.1% (2013 est.)

Imports:
$10.72 billion (2013 est.)
country comparison to the world: 97

$9.65 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, oil products, foodstuffs, metals, chemicals

Imports - partners:
Russia 14.1%, Turkey 13.7%, UK 12.5%, Germany 7.7%, Ukraine 5.5%, China 5.3%, France 4% (2013 est.)

Reserves of foreign exchange and gold:
$13.08 billion (31 December 2013 est.)
country comparison to the world: 70

$11.28 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$9.552 billion (31 December 2013 est.)
country comparison to the world: 101

$9.11 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$14.35 billion (31 December 2013 est.)
country comparison to the world: 83

$12.35 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$8.616 billion (31 December 2013 est.)
country comparison to the world: 56

$7.516 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Azerbaijani manats (AZN) per US dollar -

0.785 (2013 est.)
0.7857 (2012 est.)
0.8027 (2010 est.)
0.8038 (2009)
0.8219 (2008)


NOTE: 1) The information regarding Azerbaijan on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Azerbaijan Economy 2015 information contained here. All suggestions for corrections of any errors about Azerbaijan Economy 2015 should be addressed to the CIA.
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






This page was last modified 10-Feb-15
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