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 | 54.62 USD Billion | 2021 |
| GDP Annual Growth Rate | 5.7 % | 2Q/22 |
| GDP per capita | 5344 USD | 2021 |
| Inflation Rate YoY | 13.9 % | Dec/22 |
| Interest Rate | 8.5 % | Feb/23 |
| Unemployment Rate | 6 % | 2021 |
| Wages | 830 AZN/Month | 488.235 USD/Month | Nov/22 |
| Balance of Trade | 8155674 USD Thousand | 8.156 B USD | 3Q/22 |
| Current Account | 7380 USD Million | 7.38 B USD | 3Q/22 |
| Foreign Exchange Reserves | 7667 USD Million | 7.667 B USD | Sep/22 |
GDP Indicators
| Indicator | Data | Period |
|---|---|---|
| GDP Value | 54.62 USD Billion | 2021 |
| GDP Annual Growth Rate | 5.7 % | 2Q/22 |
| GDP per capita | 5344 USD | 2021 |
| Gross National Product | 90923 AZN Million | 53.484 B USD | 2021 |
| GDP Constant Prices | 9118 AZN Million | 5.364 B USD | Sep/22 |
| GDP per capita PPP | 14432 USD | 2021 |
| GDP From Agriculture | 797 AZN Million | 0.469 B USD | 3Q/22 |
| GDP From Construction | 786 AZN Million | 0.462 B USD | 3Q/22 |
| GDP From Manufacturing | 507 AZN Million | 0.298 B USD | 3Q/22 |
| GDP From Mining | 3199 AZN Million | 1.882 B USD | 3Q/22 |
| GDP From Public Administration | 188 AZN Million | 0.111 B USD | 3Q/22 |
| GDP From Services | 679 AZN Million | 0.399 B USD | 3Q/22 |
| GDP From Transport | 1475 AZN Million | 0.868 B USD | 3Q/22 |
| GDP From Utilities | 38.1 AZN Million | 0.022 B USD | 3Q/22 |
Budget Indicators
| Indicator | Data | Period |
|---|---|---|
| Government Debt to GDP | 18.2 % | 2021 |
| Government Budget Value | 1348 AZN Million | 0.793 USD Billion | Dec/22 |
| Government Spending | 3340 AZN Million | 1.965 USD Billion | 3Q/22 |
| Government Revenues | 30661 AZN Million | 18.036 USD Billion | Dec/22 |
| Fiscal Expenditure | 32008 AZN Million | 18.828 B USD | Dec/22 |
| Government Budget to GDP | -1 % | 2022 |
| Government Spending to GDP | 29.5 % | 2021 |
| Military Expenditure | 2703 USD Million | 2.703 B USD | 2021 |
Inflation Indicators
| Indicator | Data | Period |
|---|---|---|
| Consumer Price Index (CPI) | 209 index points | Dec/22 |
| Export Prices | 127 index points | 2017 |
| Food Inflation | 19.5 % | Dec/22 |
| Gasoline Prices | 0.59 USD/Liter | Jan/23 |
| GDP Deflator | 145 index points | Sep/22 |
| Import Prices | 128 index points | 2020 |
| Inflation Rate YoY | 13.9 % | Dec/22 |
| Producer Prices | 170 index points | Dec/21 |
| Inflation Rate Mom | 1 % | Dec/22 |
| Producer Prices Change | 84.3 % | Dec/22 |
Trade Indicators
| Indicator | Data | Period |
|---|---|---|
| Current Account to GDP | 15.2 % | 2021 |
| Balance of Trade | 8155674 USD Thousand | 8.156 USD Billion | 3Q/22 |
| Capital Flows | 4299 USD Million | 4.299 USD Billion | 3Q/22 |
| Current Account | 7380 USD Million | 7.38 USD Billion | 3Q/22 |
| Exports | 11810775 USD Thousand | 11.811 USD Billion | 3Q/22 |
| External Debt | 14644712 USD Thousand | 14.645 B USD | 2021 |
| Foreign Exchange Reserves | 7667 USD Million | 7.667 USD Billion | Sep/22 |
| Imports | 3655101 USD Thousand | 3.655 USD Billion | 3Q/22 |
| Tourist Arrivals | 1848 Persons | 0.002 Million Persons | 2021 |
Money Indicators
| Indicator | Data | Period |
|---|---|---|
| Gold Reserves | 0 Tonnes | 3Q/22 |
| Interest Rate | 8.5 % | Feb/23 |
| Money Supply M0 | 13298 AZN Million | 7.822 USD Billion | Dec/22 |
| Money Supply M1 | 23717 AZN Million | 13.951 USD Billion | Sep/22 |
| Money Supply M2 | 29566 AZN Million | 17.392 USD Billion | Dec/22 |
| Money Supply M3 | 39065 AZN Million | 22.979 USD Billion | Aug/22 |
| Deposit Interest Rate | 8.71 % | 2021 |
| Foreign Direct Investment | 1406 USD Million | 1.406 B USD | 2Q/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 | 6 % | 2021 |
| Wages | 830 AZN/Month | 488.235 USD/Month | Nov/22 |
| Employed Persons | 4988 Thousand Person | 4.988 Million Person | 2021 |
| Living Wage Family | 940 AZN/Month | 552.941 USD/Month | 2018 |
| Living Wage Individual | 865 AZN/Month | 508.824 USD/Month | 2018 |
| Unemployed Persons | 316 Thousand Persons | 0.316 Million Persons | 2021 |
| 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 % | 2022 |
| Sales Tax Rate | 18 % | 2022 |
| Social Security Rate | 25 % | 2022 |
| Social Security Rate For Companies | 22 % | 2022 |
| Social Security Rate For Employees | 3 % | 2022 |
Production Indicators
| Indicator | Data | Period |
|---|---|---|
| Crude Oil Production | 661 BBL/D/1K | Oct/22 |
| Industrial Production | -1.1 % | 2022 |
| Mining Production | -1.1 % | Aug/22 |
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 | 19.8 % | 2021 |
| 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 % | 2022 |
| Consumer Spending | 15259 AZN Million | 8.976 USD Billion | 3Q/22 |
| Disposable Personal Income | 57182 AZN Million | 33.636 B USD | 2021 |
