Worlddata.info

Indicators of economy in Azerbaijan

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12.259 USD per capita. GDP in Azerbaijan, on the other hand, reached USD 5.384 per capita, or 54.62 billion USD in the whole country. Azerbaijan is therefore currently ranked 86 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then Azerbaijan is in the list of the world's richest countries in place 83.

Inflation in Azerbaijan was in 2021 at around 6.65%. Within the EU, the average in the same year was 2.55%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 70.2% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Azerbaijan

Impact of the Covid-19 pandemic

The consequences of the Covid pandemic in 2020 were considerable in Azerbaijan. Overall, gross domestic product in 2020 fell from 48.17 billion US Dollar auf 42.69 billion US Dollar. With a large drop of 11.38 percent, the economy in Azerbaijan has struggled significantly more than other countries. The tourism sector alone slumped by around 83 percent. The unemployment rate rose from 4.8 to 6.5 percent. The consumer inflation rate has risen from 2.6% previously to 2.8% now.

Unemployment rates in percent 1991 - 2021

Economic performance 2021

 Azerbaijan
Total
Azerbaijan
per capita
EU
Total
EU
per capita
GDP54.62 bn USD5,384.03 USD17.09 tn USD33,228.68 USD
Gross national product49.50 bn USD4,879.53 USD16.78 tn USD32,621.03 USD


Development of the Gross domestic product in billion US Dollar 1990 - 2021



Im- and Exports 2021

 Azerbaijan
Total
Azerbaijan
per capita
EU
Total
EU
per capita
Imports16.34 bn USD1,610.31 USD8,916.24 bn USD17,337.55 USD
Exports25.49 bn USD2,512.29 USD9,554.34 bn USD18,578.33 USD


Development of imports and exports in billions of USD 1995 - 2021

Exports
Imports



Azerbaijan: AirportsLargest airports and airlines in AzerbaijanThe 6 biggest airports and Azal in Azerbaijan with further information and data
Pariah StatesList of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.
Venezuela: InflationInflation rates in VenezuelaDevelopment of inflation rates over the last 40 years in Venezuela incl. comparison with the U.S.