Azerbaijan: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
In Transition |
| Economic Trivia | Azerbaijan's economy relies on oil and gas which accounts for 90% of all exports. |
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Trade
Source: United Nations Comtrade Note: Top 3 trade partners are calculated by imports + exports. |
Top 3 Trade Partners (2021): Italy, Turkey, and Russia |
| Top Industries Source: CIA World Factbook | petroleum and petroleum products, natural gas, oilfield equipment; steel, iron ore; cement; chemicals and petrochemicals; textiles |
Gross Domestic Product (GDP) [1]
| GDP, PPP (current international) | $160,729,472,761 (2021) |
| GDP Growth Rate (annual %) | 5.6% (2021) |
| GDP Per Capita, PPP (current international) | $15,855 (2021) |
GDP Country Rank 80/197 (2021)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 6.65% (2021) |
| External debt stocks, total (DOD, current US$) | $14,644,711,893 (2021) |
| Total tax rate (% of commercial profits) | 40.7% (2019) |
| Real Interest Rate (5 year average %) | -3.905% (2021) |
| Manufacturing, value added (% of GDP) | 6.825% (2021) |
| Current Account Balance (BoP, current US$) | $8,291,580,000 (2021) |
Labor and Employment [1]
| Labor Force, Total | 4,919,135 (2021) |
| Employment in Agriculture (% of total employment) | 35.508% (2020) |
| Employment in Industry (% of total employment) | 14.96% (2020) |
| Employment in Services (% of total employment) | 49.533% (2020) |
| Unemployment Rate | 6.583% (2021) |
Trade [1]
| Imports of goods and services (current US$) | $16,336,941,176 (2021) |
| Exports of goods and services (current US$) | $25,487,647,059 (2021) |
| Total Merchandise Trade (% of GDP) | 62.087% (2021) |
| FDI, net inflows (BoP, current US$) | ($1,707,666,000) (2021) |
| Commercial Service Exports (current US$) | $3,763,413,000 (2021) |
Economic Snapshot [1]
Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.
How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Azerbaijan’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.