Economic Trivia

Azerbaijan's economy relies on oil and gas which accounts for 90% of all exports.

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 3 Exported Goods (2021): Oil & Mineral Fuels, Plastics, and Fruit & Nuts

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) $180,753,518,095 (2022)
GDP Growth Rate (annual %) 4.617% (2022)
GDP Per Capita, PPP (current international) $17,764 (2022)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 79/197 (2022)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 13.852% (2022)
External debt stocks, total (DOD, current US$) $14,644,711,893 (2021)
Total tax rate (% of commercial profits) 40.7% (2019)
Real Interest Rate (5 year average %) -16.509% (2022)
Manufacturing, value added (% of GDP) 5.006% (2022)
Current Account Balance (BoP, current US$) $23,478,081,000 (2022)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 5,160,258 (2022)
Employment in Agriculture (% of total employment) 34.187% (2021)
Employment in Industry (% of total employment) 15.445% (2021)
Employment in Services (% of total employment) 50.368% (2021)
Unemployment Rate 5.462% (2022)
Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $21,274,411,765 (2022)
Exports of goods and services (current US$) $47,274,117,647 (2022)
Total Merchandise Trade (% of GDP) 71.382% (2022)
FDI, net inflows (BoP, current US$) ($4,474,481,000) (2022)
Commercial Service Exports (current US$) $6,370,173,000 (2022)
Click on a row to display its 5-year graph on the right.

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.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment


  1. The World Bank