Azerbaijan

Azerbaijan with Nagorno Karabakh region

We offer a data-driven country report for Azerbaijan that explores inter alia population, international trading relationships, energy consumption, GDP growth, current account balances, and R&D investment. Additionally, CFI quotes from the Big Mac Index (courtesy of The Economist) which gives a rough idea of purchasing power parity. Other authoritative sources include The United Nations Conference on Trade and Development, The World Bank, and The International Money Fund. Visit us regularly for updates and new sources of key economic information on Azerbaijan.

Its population in 2018 was 9,923,914 [1]

In 2015, 2.31% of its total energy
consumption was renewable [2]

In 2021, its GDP grew by 5.60% [2]

In 2021 it had a positive Current
Account Balance of US$bn 8.29 [3]

Its unemployment rate in 2021 was 5.95% [3]

Its Expenditure on R&D (as a percentage of
GDP) in 2020 was 0.22% [2]

A Big Mac will set you back the
local equivalent of US$2.33 [4]



What free trade areas or economic unions is it a member of?

Member of the Organization of the Black Sea Economic Cooperation (BSEC) since 05/06/1998

Other members:

Albania, Armenia, Bulgaria, Georgia, Greece, Republic of Moldova, Romania, Russian Federation, Serbia, Türkiye, Ukraine


What trade deals are there between Organization of the Black Sea Economic Cooperation and other countries and economic unions?

None


What trade deals are there with other countries and economic unions?

Georgia - Azerbaijan free trade agreement (from 10/07/1996)

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Azerbaijan is a country with wide range of investment opportunities and is undoubtedly one of the
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Trade with the United Kingdom

Source: UK Office for National Statistics, October 2019.

Contains public sector information licensed under the Open Government Licence v3.0.