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Economy of Azerbaijan. Statistics, Data and Indicators

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Azerbaijan
55BB+ Credit rank #54
N/A Quality of life #
157 Corruption rank#142
34 Ease of doing business#25
Azerbaijan


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



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