Economy of Azerbaijan. Statistics, Data and Indicators
Azerbaijan
| 55BB+ | Credit rank #54 |
| N/A | Quality of life # |
| 157 | Corruption rank#142 |
| 34 | Ease of doing business#25 |
Azerbaijan Major Economic Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 78.72 USD Billion | 2022 |
| GDP Annual Growth Rate | 0.2 % | 1Q/23 |
| GDP per capita | 5572 USD | 2022 |
| Inflation Rate YoY | 10.9 % | Sep/23 |
| Interest Rate | 9 % | Sep/23 |
| Unemployment Rate | 5.5 % | 2022 |
| Wages | 925 AZN/Month | 544.118 USD/Month | Aug/23 |
| Balance of Trade | 2768252 USD Thousand | 2.768 B USD | 2Q/23 |
| Current Account | 1778 USD Million | 1.778 B USD | 2Q/23 |
| Foreign Exchange Reserves | 9044 USD Million | 9.044 B USD | Feb/23 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 78.72 USD Billion | 2022 |
| GDP Annual Growth Rate | 0.2 % | 1Q/23 |
| GDP per capita | 5572 USD | 2022 |
| Gross National Product | 124842 AZN Million | 73.436 B USD | 2022 |
| GDP Constant Prices | 5942 AZN Million | 3.495 B USD | Mar/23 |
| GDP per capita PPP | 15045 USD | 2022 |
| GDP From Agriculture | 198 AZN Million | 0.116 B USD | 1Q/23 |
| GDP From Construction | 315 AZN Million | 0.185 B USD | 1Q/23 |
| GDP From Manufacturing | 448 AZN Million | 0.264 B USD | 1Q/23 |
| GDP From Mining | 2127 AZN Million | 1.251 B USD | 1Q/23 |
| GDP From Public Administration | 172 AZN Million | 0.101 B USD | 1Q/23 |
| GDP From Services | 610 AZN Million | 0.359 B USD | 1Q/23 |
| GDP From Transport | 1012 AZN Million | 0.595 B USD | 1Q/23 |
| GDP From Utilities | 40.7 AZN Million | 0.024 B USD | 1Q/23 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 11.7 % | 2022 |
| Government Budget Value | 1146 AZN Million | 0.674 USD Billion | Jul/23 |
| Government Spending | 3077 AZN Million | 1.81 USD Billion | 1Q/23 |
| Government Revenues | 20431 AZN Million | 12.018 USD Billion | Aug/23 |
| Fiscal Expenditure | 20650 AZN Million | 12.147 B USD | Aug/23 |
| Government Budget to GDP | -1 % | 2022 |
| Government Spending to GDP | 29.5 % | 2021 |
| Military Expenditure | 2991 USD Million | 2.991 B USD | 2022 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 212 index points | Sep/23 |
| Export Prices | 127 index points | 2017 |
| Food Inflation | 12.4 % | Sep/23 |
| Gasoline Prices | 0.59 USD/Liter | Sep/23 |
| GDP Deflator | 105 index points | Feb/23 |
| Import Prices | 128 index points | 2020 |
| Inflation Rate YoY | 10.9 % | Sep/23 |
| Producer Prices | 184 index points | Dec/22 |
| Inflation Rate Mom | 0.3 % | Sep/23 |
| Producer Prices Change | -14.9 % | Aug/23 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 30.5 % | 2022 |
| Balance of Trade | 2768252 USD Thousand | 2.768 USD Billion | 2Q/23 |
| Capital Flows | 784 USD Million | 0.784 USD Billion | 2Q/23 |
| Current Account | 1778 USD Million | 1.778 USD Billion | 2Q/23 |
| Exports | 6673532 USD Thousand | 6.674 USD Billion | 2Q/23 |
| External Debt | 14644712 USD Thousand | 14.645 B USD | 2021 |
| Foreign Exchange Reserves | 9044 USD Million | 9.044 USD Billion | Feb/23 |
| Imports | 3905280 USD Thousand | 3.905 USD Billion | 2Q/23 |
| Tourist Arrivals | 9493 Persons | 0.009 Million Persons | 2022 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 0 Tonnes | 2Q/23 |
| Interest Rate | 9 % | Sep/23 |
| Money Supply M0 | 14605 AZN Million | 8.591 USD Billion | Aug/23 |
| Money Supply M1 | 24681 AZN Million | 14.518 USD Billion | Feb/23 |
| Money Supply M2 | 32028 AZN Million | 18.84 USD Billion | Aug/23 |
| Money Supply M3 | 41733 AZN Million | 24.549 USD Billion | Feb/23 |
| Deposit Interest Rate | 8.98 % | 2022 |
| Foreign Direct Investment | 1698 USD Million | 1.698 B USD | 4Q/22 |
Labor Indicators
| Indicator | Data | Period |
|---|---|---|
| Minimum Wages | 345 AZN/Month | 202.941 USD/Month | 2023 |
| Retirement Age Men | 65 | 2022 |
| Retirement Age Women | 63 | 2022 |
| Unemployment Rate | 5.5 % | 2022 |
| Wages | 925 AZN/Month | 544.118 USD/Month | Aug/23 |
| Employed Persons | 4901 Thousand Person | 4.901 Million Person | 2022 |
| Living Wage Family | 940 AZN/Month | 552.941 USD/Month | 2018 |
| Living Wage Individual | 865 AZN/Month | 508.824 USD/Month | 2018 |
| Unemployed Persons | 293 Thousand Persons | 0.293 Million Persons | 2022 |
| Wages High Skilled | 666 AZN/Month | 391.765 USD/Month | 2018 |
| Wages in Manufacturing | 685 AZN/Month | 402.941 USD/Month | 2021 |
| Wages Low Skilled | 341 AZN/Month | 200.588 USD/Month | 2018 |
Taxes
| Indicator | Data | Period |
|---|---|---|
| Corporate Tax Rate | 20 % | 2022 |
| Personal Income Tax Rate | 25 % | 2023 |
| Sales Tax Rate | 18 % | 2023 |
| Social Security Rate | 25 % | 2023 |
| Social Security Rate For Companies | 22 % | 2023 |
| Social Security Rate For Employees | 3 % | 2023 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Crude Oil Production | 609 BBL/D/1K | May/23 |
| Industrial Production | -1.1 % | 2023 |
| Mining Production | -1.8 % | Sep/23 |
Business Indicators
| Indicator | Data | Period |
|---|---|---|
| Corruption Index | 23 index points | 2022 |
| Corruption Rank | 157 place | 2022 |
| Ease of Doing Business | 34 place | 2019 |
| Manufacturing Production | 4.7 % | 2022 |
| Competitiveness Index | 62.72 Index Points | 2019 |
| Competitiveness Rank | 58 | 2019 |
| Leading Economic Index | 2.1 % | Jun/21 |
Consumer Indicators
| Indicator | Data | Period |
|---|---|---|
| Retail Sales YoY | 3.1 % | 2023 |
| Consumer Spending | 15385 AZN Million | 9.05 USD Billion | 1Q/23 |
| Disposable Personal Income | 57182 AZN Million | 33.636 B USD | 2021 |
