Azerbaijan GDP

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Azerbaijan GDP

Azerbaijan country overview

Before we start to discuss Azerbaijan GDP, first we start to discuss Azerbaijan country overview. Azerbaijan is officially called the Republic of Azerbaijan.

Azerbaijan GDP
Azerbaijan GDP

This country is located in Western Asia. Its capital and largest city name are Baku. Its official language is Azerbaijani.

When we talk about its ethnic groups, so 91% of Azerbaijani, 2% Talysh and 7% other ethnic groups live in Azerbaijan. In the religious divide, 97% of Islam and 3% other live in Azerbaijan.

When we talk about its government system, so its government system is the Unitary semi-presidential constitutional republic.

Azerbaijan’s president name is Liham Aliyev. Its total land is 86,605 km2. Its land area rank is 112th in the world. Azerbaijan’s total population is 10,130,200 in the year 2021.

Its population rank is 90th in the world. Its population density is 115 / km2 Which is considered a medium in the world. Its population density rank is 99th in the world. 

Azerbaijan Economy

Azerbaijan’s currency is called the Azerbaijani manat. Azerbaijan economy is generally called the emerging and the developing economy.

The inflation rate in Azerbaijan is 3.4% in the year 2020. 5% of the Azerbaijani population live below the poverty line.

The unemployment rate in Azerbaijan is 5% in the year 2020. Its gross external debt is $9 billion in the year 2020. Its total foreign reserves are $53 billion in the year 2021. 

Azerbaijan GDP

Its total GDP is $42 billion (nominal)  and $180 billion (PPP) in the year 2020. Its GDP rank is 91th (nominal) and 60th (PPP) in the year 2020.

Its GDP growth is 4.8% in the year 2021. Its GDP per capita is $4,100 (nominal) and $17,500 (PPP) in the year 2020. Its GDP per capita rank is 119th (nominal) and 113th (PPP) in the year 2020.

When we talk about GDP by sector, so agriculture is 7%, the industry is 41% and services are 43% in the year  2020. 

Exports

Its total exports are $26 billion in the year 2019. Its main export goods are oil, gas, machinery and others. Its main export partners are India, China, Turkey, Russia, Spain and others. 

Imports

Azerbaijan’s total imports are $17 billion in the year 2019. Its main import goods are machinery, food products and others. Its main import partners are the United Kingdom, Russia, China, Turkey, Iran and others.  

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