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Azerbaijan

Headline economic indicators for Azerbaijan, with the most recent official readings.

Prices

Prices — Azerbaijan
Indicator Value Change
Inflation rate · 5.6% +3.41 (+154.1%)
Consumer price index · 229.9 +12.24 (+5.6%)
GDP deflator inflation · 0.6% +1.92 (+142.6%)

GDP

GDP — Azerbaijan
Indicator Value Change
GDP growth rate · 1.4% -2.71 (-65.1%)
GDP per capita · 7,410.72 +116.08 (+1.6%)
GDP per capita, long-run history · 17,683 +711.22 (+4.2%)
GDP · 75,937,647,058.82 +1,511,647,059 (+2.0%)
GDP, PPP · 267,574,997,457 +11,010,972,640 (+4.3%)
GDP per capita, PPP · 26,113 +966.17 (+3.8%)
GDP per capita growth · 1.0% -2.65 (-72.3%)
GNI per capita · 7,360 +20.00 (+0.3%)
Agriculture to GDP · 5.9% +0.34 (+6.1%)
Industry to GDP · 39.5% -2.94 (-6.9%)
Manufacturing to GDP · 6.0% +0.43 (+7.8%)
Services to GDP · 45.3% +2.79 (+6.6%)
Household consumption to GDP · 59.4% +3.42 (+6.1%)
Gross capital formation to GDP · 18.9% -1.81 (-8.8%)
Gross savings to GDP · 23.5% -3.74 (-13.7%)

Labour

Labour — Azerbaijan
Indicator Value Change
Unemployment rate · 5.5% -0.19 (-3.4%)
Labour force participation rate · 63.3% -0.61 (-1.0%)
Female labour force participation rate · 60.8% -0.59 (-1.0%)
Youth unemployment rate · 13.1% -0.45 (-3.3%)
Employment to population ratio · 59.8% -0.46 (-0.8%)
Employment in agriculture · 34.2% -0.46 (-1.3%)
Employment in industry · 15.5% +0.10 (+0.7%)
Employment in services · 50.2% +0.36 (+0.7%)

Money

Money — Azerbaijan
Indicator Value Change
Real interest rate · 14.7% -1.55 (-9.6%)
Broad money to GDP · 38.6% +1.88 (+5.1%)
Private sector credit to GDP · 24.9% -1.50 (-5.7%)
Lending rate · 15.3% +0.66 (+4.5%)
Bank deposit rate · 9.4% +0.76 (+8.9%)
Stock market capitalization to GDP · 2.1% -0.13 (-5.7%)
Bank nonperforming loans · 2.0% +0.04 (+1.8%)
Official exchange rate · 1.7 +0.00 (+0.0%)

Trade

Trade — Azerbaijan
Indicator Value Change
Current account to GDP · 4.6% -1.70 (-27.1%)
Exports to GDP · 43.0% -2.81 (-6.1%)
Imports to GDP · 36.8% +0.07 (+0.2%)
Trade to GDP · 79.8% -2.74 (-3.3%)
Exports of goods and services · 32,670,058,823.53 -1,442,823,529 (-4.2%)
Imports of goods and services · 27,950,647,058.82 +611,823,529 (+2.2%)
Trade balance, goods and services (annual) · 4,719,396,000 -2,054,703,000 (-30.3%)
Current account balance (annual) · 3,475,054,000 -1,196,054,000 (-25.6%)
Foreign direct investment to GDP · 0.5% +0.18 (+58.6%)
Remittances received to GDP · 2.0% +0.15 (+8.2%)
Total reserves, including gold · 13,555,767,940.95 +856,643,641 (+6.7%)
Reserves in months of imports · 5.0 +0.29 (+6.2%)
External debt to GNI · 17.0% -4.57 (-21.2%)

Government

Government — Azerbaijan
Indicator Value Change
Government debt to GDP · 6.4% +0.09 (+1.4%)
Government revenue to GDP · 38.9% -0.89 (-2.2%)
Government expense to GDP · 23.0% -4.14 (-15.2%)
Tax revenue to GDP · 17.3% -0.48 (-2.7%)
Government budget balance to GDP · 3.9% -1.88 (-32.4%)
Government consumption to GDP · 15.5% +1.28 (+9.0%)
Education spending to GDP · 3.7% +0.61 (+20.1%)
Health spending to GDP · 4.3% +0.86 (+25.1%)

Demography

Demography — Azerbaijan
Indicator Value Change
Population · 10,246,996 +44,166 (+0.4%)
Population, long-run history · 9,918 +43.16 (+0.4%)
Population growth · 0.4% -0.05 (-10.0%)
Life expectancy · 74.6 +0.15 (+0.2%)
Fertility rate · 1.43 -0.12 (-7.7%)
Birth rate · 10.0 -1.10 (-9.9%)
Death rate · 5.8 -0.10 (-1.7%)
Urban population share · 58.6% +0.06 (+0.1%)
Population aged 65 and over · 9.2% +0.61 (+7.2%)
Under-five mortality rate · 17.9 -0.80 (-4.3%)
Population density · 123.4 +0.59 (+0.5%)
Net migration · 8,731 -2,133 (-19.6%)
Gini index · 26.6 +0.00 (+0.0%)

Source: Bolt, J. and van Zanden, J.L. (2024), Maddison style estimates of the evolution of the world economy: A new 2023 update, Journal of Economic Surveys, 1-41, DOI 10.1111/joes.12618. Licensed under CC BY 4.0. The original sources are listed on each page.

All data sources

Original sources of these estimates

GDP pc: 2008 - 2022: Total Economy Database the Conference Board for all countries included in TED. Otherwise UN national accounts statistics

No separate list is published for Azerbaijan; the database as a whole is cited above.

Economies nearby

Comparable readings from neighbouring economies.