Key Facts

GDP (ppp) per CAPITA

$9,500 (2008 est.)

Inflation Rate

20.8% (2008 est.)

Population

8,238,672 (July 2009 est.)

Country Risk Ratings

C

Ease of Doing Business

33/181

Global Competitiveness

69/134

Country Map

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Azerbaijan : Introduction

Azerbaijan - a nation with a majority-Turkic and majority-Muslim population - was briefly independent from 1918 to 1920; it regained its independence after the collapse of the Soviet Union in 1991. Despite a 1994 cease-fire, Azerbaijan has yet to resolve its conflict with Armenia over the Azerbaijani Nagorno-Karabakh enclave (largely Armenian populated). Azerbaijan has lost 16% of its territory and must support some 600,000 internally displaced persons as a result of the conflict. Corruption is ubiquitous, and the government has been accused of authoritarianism. Although the poverty rate has been reduced in recent years, the promise of widespread wealth from development of Azerbaijan's energy sector remains largely unfulfilled.

Azerbaijan: The National Bank of the Azerbaijan Republic

The National Bank of the Azerbaijan Republic is the supreme state bank, which has exclusive rights of banknotes issue and fulfills the function of reserve system. Available in English and Azerbaijani.

Sources:
CIA World Factbook (September 2009)
U.S. Dept. of State Country Background Notes (March 2009)