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) $160,729,472,761 (2021)
GDP Growth Rate (annual %) 5.6% (2021)
GDP Per Capita, PPP (current international) $15,855 (2021)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 80/197 (2021)

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 %) 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)
Click on a row to display its 5-year graph on the right.

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)
Click on a row to display its 5-year graph on the right.

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)
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