Editing Economy of Azerbaijan (section)

==Macroeconomic trend==
[[File:GPD per capita development of Azerbaijan.jpg|thumb|right|Change in per capita GDP of Azerbaijan since 1973. Figures are inflation-adjusted to 2011 International dollars.]]
The following is a chart of trend of gross domestic product of Azerbaijan at market prices<ref>[http://www.imf.org/external/pubs/ft/weo/2016/02/weodata/index.aspx estimated] {{webarchive |url=https://web.archive.org/web/20170113113412/http://www.imf.org/external/pubs/ft/weo/2016/02/weodata/weoselgr.aspx |date=2017-01-13 }} by the International Monetary Fund</ref> with figures in USD.
{| class="wikitable"
|-
! Year || Gross domestic product PPP || Per capita income<br /> (as % of USA)
|-
| 1995 || 19,497,000,000 || 8.78
|-
| 2000 || 29,683,000,000 || 10.01
|-
| 2005 || 59,087,000,000 || 15.52
|-
| 2010 || 138,947,000,000 || 31.78
|-
| 2015 || 169,789,000,000 || 32.15
|-
|}
For purchasing power parity comparisons, the US dollar was exchanged at 1,565.88 Manats only. Currently, the new Manat is in use, with an exchange rate of about 1 manat = $0.59. Mean graduate pay was $5.76 per man-hour in 2010.

The following table shows the main economic indicators in 1980–2017.
{| class="wikitable" style="text-align: center;"
!Year
!GDP (in bil. US$ PPP)
!GDP per capita (in US$ PPP)
!GDP
(in bil. US$ nominal)
!GDP growth (real)
!Inflation (in Percent)
!Government debt (in % of GDP)
|-
!1993
|27.4
|3,658
|1.3
|−27.4%
|1,129.7%
|...
|-
!1995
|20.0
|2,610
|2.4
|−13.0%
|411.8%
|19%
|-
!2000
|30.4
|3,781
|5.3
|6.2%
|1.8%
|23%
|-
!2005
|61.3
|7,252
|13.3
|28.0%
|9.6%
|14%
|-
!2006
|84.9
|9,927
|21.0
|34.5%
|8.2%
|11%
|-
!2007
|109.3
|12,619
|33.1
|25.5%
|16.7%
|8%
|-
!2008
|123.3
|14,046
|49.0
|10.6%
|20.8%
|7%
|-
!2009
|135.9
|15,231
|44.3
|9.4%
|1.5%
|12%
|-
!2010
|143.9
|15,995
|52.9
|4.6%
|5.7%
|13%
|-
!2011
|144.5
|15,861
|66.0
|−1.6%
|7.8%
|11%
|-
!2012
|150.2
|16,271
|69.7
|2.1%
|1.1%
|14%
|-
!2013
|161.6
|17,277
|74.2
|5.9%
|2.5%
|13%
|-
!2014
|168.9
|17,824
|75.2
|2.7%
|1.5%
|14%
|-
!2015
|171.8
|17,915
|50.8
|0.6%
|4.1%
|35%
|-
!2016
|168.6
|17,378
|37.8
|−3.1%
|12.6%
|51%
|-
!2017
|171.8
|17,492
|41.4
|0.1%
|13.0%
|55%
|}
Source: IMF<ref>{{cite web|title=Report for Selected Countries and Subjects|url=https://www.imf.org/external/pubs/ft/weo/2018/01/weodata/weorept.aspx?sy=1992&ey=2023&scsm=1&ssd=1&sort=country&ds=.&br=1&c=912&s=NGDP_RPCH,PPPGDP,PPPPC,PCPIPCH,GGXWDG_NGDP&grp=0&a=&pr.x=70&pr.y=9|access-date=2018-08-28|language=en-US}}</ref>

For more than a century the backbone of the Azerbaijani economy has been [[petroleum]], which represented 50 percent of Azerbaijan's GDP in 2005, and is projected to double to almost 125 percent of GDP in 2007.<ref>''[http://www.energypublisher.com/article.asp?id=13024 Azerbaijan: Energy profile] {{webarchive |url=https://web.archive.org/web/20081004122202/http://www.energypublisher.com/article.asp?id=13024 |date=4 October 2008 }}'' (Enerpub, 13 December 2007)</ref> Now that Western oil companies are able to tap deep-water oilfields untouched by the [[Soviet Union|Soviets]] because of poor technology, Azerbaijan is considered one of the most important areas in the world for oil exploration and development. Proven [[oil reserves]] in the [[Caspian Sea|Caspian Basin]], which Azerbaijan shares with Russia, [[Kazakhstan]], Iran, and [[Turkmenistan]], are comparable in size to the [[North Sea oil|North Sea]], although exploration is still in the early stages.