Editing Economy of Azerbaijan

{{Short description|none}}
{{Use dmy dates|date=September 2021}}
{{Infobox economy
| country = [[Azerbaijan]]
| image = Port Baku.jpg
| image_size = 310px
| caption = [[Baku]], the financial capital of Azerbaijan
| currency = [[Azerbaijani manat]] (AZN, ₼)
| fixed exchange = 
| year = Calendar year
| organs = [[Commonwealth of Independent States|CIS]], [[Economic Cooperation Organization|ECO]], [[GUAM]], [[WTO]]&nbsp;(observer)
| group = {{plainlist|
*[[Developing country|Developing/Emerging]]
*Upper-middle income economy <ref>{{cite web |url=https://datahelpdesk.worldbank.org/knowledgebase/articles/906519-world-bank-country-and-lending-groups|title=World Bank Country and Lending Groups |publisher=[[World Bank]] |website=datahelpdesk.worldbank.org |access-date=21 April 2024}}</ref>}}
| population = {{increaseNeutral}} 10,153,958 (2023)<ref>{{cite web |url=https://data.worldbank.org/indicator/SP.POP.TOTL?locations=AZ | title=World Bank Open Data }}</ref>
| gdp = {{plainlist|
*{{increase}} $75.649 billion (nominal, 2024)<ref name="IMFWEO.AZ">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/weo-report?c=912,&s=NGDP_RPCH,NGDPD,PPPGDP,NGDPDPC,PPPPC,PCPIPCH,&sy=2022&ey=2029&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, April 2024 Edition. (Azerbaijan) |publisher=[[International Monetary Fund]] |date=April 2024 |access-date=21 April 2024}}</ref>
*{{increase}} $253.12 billion ([[Purchasing power parity|PPP]], 2024 est.)<ref name="IMFWEO.AZ" />}}
| gdp rank = {{plainlist|
*[[List of countries by GDP (nominal)|83rd (nominal, 2024)]]
*[[List of countries by GDP (PPP)|71st (PPP, 2024)]]}}
| growth = {{plainlist|
*1.1%&nbsp;(2023) 
*3.2%&nbsp;(2024e)
*2.5%&nbsp;(2025f)<ref name="IMFWEO.AZ" />}}
| per capita = {{plainlist|
*{{increase}} $7,381 (nominal, 2024)<ref name="IMFWEO.AZ" />
*{{increase}} $24,698 (PPP, 2024 est.)<ref name="IMFWEO.AZ" />}}
| per capita rank = {{plainlist|
*[[List of countries by GDP (nominal) per capita|96th (nominal, 2024)]]
*[[List of countries by GDP (PPP) per capita|77th (PPP, 2024)]]}}
| sectors = {{plainlist|
*[[Primary sector of the economy|agriculture]]: 6.93%
*[[Secondary sector of the economy|industry]]: 41.38%
*[[Tertiary sector of the economy|services]]: 42.52%
*(2020 est.)<ref name="CIAWFAJ"/>}}
| components = 
| inflation = {{decreasePositive}} 2.1% (2024)<ref name="IMFWEO.AZ" />
| poverty = {{plainlist|
*4.9% (2015 est.)<ref name="CIAWFAJ"/> }}
| hdi = {{plainlist|
*{{increase}} 0.760 {{color|green|high}} (2022)<ref name="hdi">{{cite web |url=https://hdr.undp.org/data-center/specific-country-data#/countries/AZE |title=Human Development Index (HDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org |access-date=17 November 2022}}</ref> ([[List of countries by Human Development Index|89th]])
*{{increase}} 0.707 {{color|green|high}} [[List of countries by inequality-adjusted HDI|IHDI]] (2022)<ref name="hdi"/>}}
| gini = 33.7 {{color|darkorange|medium}} (2021)<ref name="CIAWFAJ"/>
| cpi = {{steady}} 23 out of 100 points (2023, [[Corruption Perceptions Index|154th rank]])
| labor = {{plainlist|
*{{increase}} 5,536,769 (2023)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=AZ |title=Labor force, total{{Snd}} Azerbaijan |publisher=[[World Bank]] |website=data.worldbank.org |access-date=3 November 2019}}</ref>
*{{increase}} 62.0% employment rate (2022)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.EMP.TOTL.SP.NE.ZS?locations=AZ&most_recent_value_desc=true |title=Employment to population ratio, 15+, total (%) (national estimate){{Snd}} Azerbaijan |publisher=[[World Bank]] |website=data.worldbank.org |access-date=3 November 2019}}</ref>}}
| occupations = {{plainlist|
*[[Primary sector of the economy|agriculture]]: 37%
*[[Secondary sector of the economy|industry]]: 14.3%
*[[Tertiary sector of the economy|services]]: 48.9%
*(2014)<ref name="CIAWFAJ">{{Cite CIA World Factbook|country=Azerbaijan|access-date=16 August 2019|year=2019}}</ref>}}
| unemployment = {{plainlist|
*{{decreasePositive}} 5.4% (2024 est.)<ref name="2020/01">{{cite web |title=World Economic Outlook Database, April 2022|url=https://www.imf.org/external/pubs/ft/weo/2020/01/weodata/weorept.aspx?pr.x=50&pr.y=10&sy=2017&ey=2021&scsm=1&ssd=1&sort=country&ds=.&br=1&c=912&s=NGDP_RPCH%2CPPPGDP%2CPCPIPCH%2CLUR&grp=0&a= |website=IMF.org |publisher=International Monetary Fund |access-date=20 April 2020}}</ref>
*{{decreasePositive}} 13.6% youth unemployment (2022)<ref>{{cite web |title=Unemployment, youth total (% of total labor force ages 15-24) (national estimate){{Snd}} Azerbaijan |url=https://data.worldbank.org/indicator/SL.UEM.1524.NE.ZS?locations=AZ |website=data.worldbank.org |publisher=World Bank |access-date=6 March 2020}}</ref>}}
| average gross salary = [[List of European countries by average wage|AZN 839 / €466 monthly (December, 2022)]]
| average net salary = [[List of European countries by average wage|AZN 720 / €400 monthly (December, 2022)]]
| industries = [[petroleum]] and [[natural gas]]; [[petroleum product]]s; oilfield equipment; [[steel]]; [[iron ore]]; [[cement]]; [[chemical industry|chemicals]]; [[petrochemicals]]; [[textile]]s; [[machinery]]; [[cotton]]; [[foodstuff]]s
| edbr = {{decrease}} [[Ease of doing business index#Ranking|34th (very easy, 2020)]]<ref>{{cite web|url=http://www.doingbusiness.org/data/exploreeconomies/azerbaijan |title=Ease of Doing Business in Azerbaijan |publisher=Doingbusiness.org |access-date=2017-01-25 }}</ref>
| exports = {{increase}} $38.1
billion (2022 Dec.)<ref name="Azərbaycan Dövlət Gömrük Komitəsi">{{cite web | url=https://customs.gov.az/az/faydali/gomruk-statistikasi/xarici-ticaretin-veziyyeti-haqqinda | title=Azərbaycan Dövlət Gömrük Komitəsi }}</ref>
| export-goods = oil and gas, machinery, foodstuffs, cotton
| export-partners = {{plainlist|
*{{flag|Italy}} 46.6%
*{{flag|Turkey}} 9.29%
*{{flag|Israel}} 4.41%
*{{flag|India}} 4.36%
*{{flag|Greece}} 3.65%
*{{flag|Spain}} 2.65%
*{{flag|Russia}} 2.56%
*{{flag|Croatia}} 2.50%
*{{flag|Czech Republic}} 2.42%
*{{flag|United Kingdom}} 2.04% (2022)<ref name="ARDGK">{{cite web |title=Foreign trade partners of Azerbaijan |url=https://customs.gov.az/az/faydali/gomruk-statistikasi/xarici-ticaretin-veziyyeti-haqqinda |publisher=[[The States Customs Committee of the Republic of Azerbaijan]] |access-date=31 Dec 2022}}</ref>}}
| imports = {{increase}} $14.5 billion (2022 Dec.)<ref name="Azərbaycan Dövlət Gömrük Komitəsi"/>
| import-goods = machinery and equipment, foodstuffs, metals, chemicals
| import-partners = {{plainlist|
*{{flag|Russia}} 18.81%
*{{flag|Turkey}} 15.8%
*{{flag|China}} 14.35%
*{{flag|Germany}} 4.56%
*{{flag|Turkmenistan}} 3.51%
*{{flag|United States}} 3.3%
*{{flag|Iran}} 3.28%
*{{flag|Italy}} 2.34%
*{{flag|Japan}} 2% 
*{{flag|South Korea}} 1.85% (2022 Dec.)<ref name="ARDGK"/>}}
| current account = {{increase}} $4.65 billion (2024 est.)<ref name="IMFWEO.AZ" />
| FDI = {{plainlist|
*{{increase}} $79.53 billion (31 December 2017 est.)<ref name="CIAWFAJ"/>
*{{increase}} Abroad: $19.6 billion (31 December 2017 est.)<ref name="CIAWFAJ"/>}}
| gross external debt = {{increaseNegative}} $15.51 billion (2024 est.)<ref name="IMFWEO.AZ" />
| debt = {{decreasePositive}} 20.5% of GDP (2024 est.)<ref name="IMFWEO.AZ" />
| revenue = 17.175 billion (2022 est.)<ref>{{cite web | url=https://report.az/ru/finansy/dohody-i-rashody-gosbyudzheta-azerbajdzhana-na-2022-god-uvelichivayutsya/ | title=Доходы и расходы госбюджета Азербайджана на 2022 год увеличиваются | date=20 June 2022 }}</ref>
| expenses = 19.002 billion (2022 est.)<ref>{{cite web | url=https://report.az/ru/finansy/dohody-i-rashody-gosbyudzheta-azerbajdzhana-na-2022-god-uvelichivayutsya/ | title=Доходы и расходы госбюджета Азербайджана на 2022 год увеличиваются | date=20 June 2022 }}</ref>
| balance = 5.55% (of GDP) (2019 est.)<ref name="CIAWFAJ"/>
| aid = 
| credit = {{plainlist|
*[[Fitch Ratings|Fitch]]:<ref>{{cite news|title=Azerbaijan at BBB- according to Fitch Ratings. |url=http://www.socartrading.ch/en/azerbaijan-at-bbb-according-to-fitch-ratings-249.html |date=27 January 2012 |location=London |language=tr |url-status=dead |archive-url=https://web.archive.org/web/20131231000104/http://www.socartrading.ch/en/azerbaijan-at-bbb-according-to-fitch-ratings-249.html |archive-date=31 December 2013 }}</ref>
*BB+
*Outlook: Negative
*[[Moody's Investors Service|Moody's]]:<ref>{{cite web|title=Moody's changes outlook on Azerbaijan's sovereign ratings to positive from stable|date=8 March 2011 |url=http://www.moodys.com/research/Moodys-changes-outlook-on-Azerbaijans-sovereign-ratings-to-positive-from--PR_215309}}</ref>
*Ba2
*Outlook: Stable
*[[Standard & Poor's]]:<ref>{{cite web|title=Sovereigns Ratings List|url=http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/us/?subSectorCode=39}}</ref>
*BB+
*AAA (T&C Assessment)
*Outlook: Stable<ref>{{cite web|title=Azerbaijan Rating Stable|url=http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/us/?subSectorCode=39&ffFix=yes|location=London|date=13 January 2012|access-date=1 April 2012|archive-url=https://web.archive.org/web/20150130202445/http://www.standardandpoors.com/ratings/sovereigns/ratings-list/en/us/?subSectorCode=39&ffFix=yes|archive-date=30 January 2015|url-status=dead}}</ref>}}
| reserves = {{increase}} $70,1 billion (2024 est.)<ref name="CIAWFAJ"/>
| cianame = azerbaijan
| spelling = 
}}
The '''economy of Azerbaijan''' is highly dependent on oil and gas exports, in particular since the completion of the [[Baku-Tbilisi-Ceyhan pipeline|Baku-Tbilisi-Ceyhan Pipeline]]. The transition to oil production in the late 1990s led to rapid economic growth over the period 1995–2014.<ref name=":2">{{Cite news |last=Levine |first=Joshua |date=2012-08-15 |title=Big in Baku |language=en-US |work=The New York Times |url=https://www.nytimes.com/2012/08/15/t-magazine/big-in-baku.html |issn=0362-4331}}</ref><ref name=":3">{{Cite web |date=September 2022 |title=Azerbaijan: Country economic memorandum |url=https://documents1.worldbank.org/curated/en/099100009222236784/pdf/P17532606988e2056084e603c9c48ddc618.pdf |website=World Bank}}</ref> Since 2014, GDP growth has slowed down substantially.<ref name=":3" />

Large [[Petroleum|oil]] reserves are a major contributor to [[Azerbaijan]]'s economy. Gas and oil make up two-thirds of Azerbaijan's GDP, making it one of the top ten most fossil fuel-dependent economies in the world.<ref>{{Cite web |last=Lo |first=Joe |date=2023-12-09 |title=Oil-reliant Azerbaijan chosen to host Cop29 climate talks |url=https://www.climatechangenews.com/2023/12/09/oil-reliant-azerbaijan-chosen-to-host-cop29-climate-talks/ |access-date=2023-12-09 |website=Climate Home News |language=en}}</ref> Gas and oil make up 90% of Azerbaijan's export revenues and 60% of its finances.<ref>{{Cite web |date=2024 |title=Oil-rich nations 'pushback' against fossil fuel phaseout |url=https://www.ft.com/content/c1e13d08-9917-44d3-bd63-5916a320e451 |website=www.ft.com}}</ref>

Azerbaijan's economy is characterized by corruption and inequality.<ref name=":2" /> The country's oil wealth has significantly strengthened the stability of [[Ilham Aliyev]]'s regime and enriched ruling elites in Azerbaijan.<ref name=":12">{{Cite book |last=Altstadt |first=Audrey L. |url=https://books.google.com/books?id=RgbRDgAAQBAJ |title=Frustrated Democracy in Post-Soviet Azerbaijan |date=2017 |publisher=Columbia University Press |isbn=978-0-231-80141-6 |pages=114–120 |language=en}}</ref><ref name=":22">{{Cite book |last=Waal |first=Thomas de |url=https://books.google.com/books?id=8dp1DwAAQBAJ |title=The Caucasus: An Introduction |date=2018-11-02 |publisher=Oxford University Press |isbn=978-0-19-068311-5 |pages=185–186, 226–229 |language=en}}</ref><ref>{{Cite book |last=Ross |first=Michael |url=https://books.google.com/books?id=jUuSO0F9oIMC |title=The Oil Curse: How Petroleum Wealth Shapes the Development of Nations |date=2012 |publisher=Princeton University Press |isbn=978-0-691-14545-7 |pages=60 |language=en}}</ref><ref>{{Cite book |last=Cornell |first=Svante E. |url=https://books.google.com/books?id=TaZzCQAAQBAJ |title=Azerbaijan Since Independence |date=2015 |publisher=Routledge |isbn=978-1-317-47621-4 |pages=210–211, 235 |language=en}}</ref> The country's oil wealth has enabled the state to host lavish international events, as well as engage in extensive lobbying efforts abroad.<ref name=":02">{{Cite web |last=Project |first=Organized Crime and Corruption Reporting |title=The Azerbaijani Laundromat |url=https://www.occrp.org/en/azerbaijanilaundromat/ |website=OCCRP}}</ref><ref>{{Cite web |last1=Harding |first1=Luke |last2=Barr |first2=Caelainn |last3=Nagapetyants |first3=Dina |date=September 4, 2017 |title=Everything you need to know about the Azerbaijani Laundromat |work=The Guardian |url=https://www.theguardian.com/world/2017/sep/04/everything-you-need-to-know-about-the-azerbaijani-laundromat |via=www.theguardian.com}}</ref>

The national currency is the [[Azerbaijani manat]]. The private sector is weak in Azerbaijan, as the economy is dominated by state-owned enterprises.<ref name=":3" /> More than half of the formal labor force works for the government in Azerbaijan.<ref name=":3" />

==Economic history of Azerbaijan==
{{main|Economic history of Azerbaijan}}

===Republic era===
Oil and gas are the most prominent products of Azerbaijan's economy. More than $60 billion was invested into Azerbaijan's oil sector by major international oil companies in AIOC consortium operated by [[BP]]. Oil production under the first of these production sharing agreements (PSAs), with the Azerbaijan International Operating Company, began in November 1997 and was about 500,000 barrels per day in 2006. People visit petroleum spas (or "oil spas") to bathe in the local crude in [[Naftalan, Azerbaijan|Naftalan]].<ref>[http://www.iht.com/articles/2006/11/28/news/journal.php Azerbaijani answer to oil glut: Bathe in it – Asia – Pacific – International Herald Tribune<!-- Bot generated title -->] {{webarchive |url=https://web.archive.org/web/20061128193000/http://www.iht.com/articles/2006/11/28/news/journal.php |date=28 November 2006 }}</ref> A leading [[caviar]] producer and exporter in the past, Azerbaijan's [[fishing industry]] today is concentrated on the dwindling stocks of [[sturgeon]] and [[beluga (sturgeon)|beluga]] in the [[Caspian Sea]].

Azerbaijan shares all the problems of the former Soviet republics in making the transition from a [[command economy|command]] to a [[market economy]], but its energy resources brighten its long-term prospects. Azerbaijan has begun making progress on economic reform, and old economic ties and structures are slowly being replaced. An obstacle to economic progress, including foreign investment, is the continuing conflict with Armenia over the [[Nagorno-Karabakh]] region.<ref>{{cite web|last1=Zhalko-Tytarenko|first1=Andrew|title=Iran's other side: the South Caucasus|url=http://diplomatonline.com/mag/2014/04/irans-other-side-the-south-caucasus/|website=diplomatonline.com|access-date=14 August 2014}}</ref>

In 1992 Azerbaijan became a member of the [[Economic Cooperation Organization]].<ref>{{cite web|title=Brief Introduction of ECO's history|url=http://www.ecosecretariat.org/detail_info/about_eco_d.htm|website=ecosecretariat.org|access-date=14 August 2014|archive-url=https://web.archive.org/web/20131022070355/http://www.ecosecretariat.org/Detail_info/About_ECO_D.htm|archive-date=22 October 2013|url-status=usurped}}</ref> In 2002, the Azerbaijani [[merchant marine]] had 54 ships.<ref>{{cite web| title =Azerbaijan Transportation | publisher = NationsEncyclopedia.com| url = http://www.nationsencyclopedia.com/Asia-and-Oceania/Azerbaijan-TRANSPORTATION.html| access-date = 24 May 2007}}</ref> 

In 2010 Azerbaijan entered into the top eight biggest oil suppliers to EU countries with €9.46 billion.<ref>{{cite web |url=http://today.az/news/business/82397.html |title=Azerbaijan among top 8 biggest oil suppliers to EU countries |website=Today.AZ |access-date=3 March 2015 |archive-date=23 September 2016 |archive-url=https://web.archive.org/web/20160923134549/http://today.az/news/business/82397.html |url-status=dead }}</ref> In 2011, the amount of foreign investments in Azerbaijan was $20 billion, a 61% increase from 2010. According to [[Ministry of Economic Development (Azerbaijan)|Minister of Economic Development of Azerbaijan]], [[Shahin Mustafayev]], in 2011, "$15.7 billion was invested in the non-oil sector, while the rest{{Snd}}in the oil sector".<ref>{{cite news |url=https://www.reuters.com/article/azerbaijan-investment-idUSL6E8CH3QF20120117 |title=Azerbaijan investment up 61 pct to $20 bln in 2011 |work=Reuters |author=Lada Yevgrashina |date=17 January 2012 |access-date=17 January 2012}}</ref>

[[File:2006Azerbaijani exports.PNG|thumb|right|Azerbaijani exports in 2006]]
In 2012, because of its economic performance after the Soviet breakup, Azerbaijan was predicted to become "[[Tiger economy|Tiger of Caucasus]]".<ref>{{cite web|title=Is Azerbaijan the new "Caucasus tiger"?|url=http://www.agccommunication.eu/geopolitica/366-is-azerbaijan-the-new-caucasus-tiger|website=agccommunication.eu|access-date=14 August 2014}}</ref><ref>{{cite web|last1=Safarov|first1=Fuad|title=Muhammad Asif Noor: "Tiger of Caucasus" pose as an opportunity for Pakistan to get involved in mutually beneficial cooperative engagements"|url=http://vestnikkavkaza.net/interviews/politics/42900.html|website=vestnikkavkaza.net|access-date=14 August 2014|archive-date=14 August 2014|archive-url=https://web.archive.org/web/20140814213930/http://vestnikkavkaza.net/interviews/politics/42900.html|url-status=dead}}</ref><ref>{{cite web|last1=Afag|first1=Aliyeva|script-title=ru:Известное СМИ Германии: Азербайджан{{Snd}} "тигр Кавказа"|url=http://aze.az/news_izvestnoe_smi_germanii_75709.html|website=aze.az|date=14 April 2012 |access-date=14 August 2014|language=ru}}</ref> In 2012, [[Globalization and World Cities Research Network]] study ranked Baku as a Gamma-level [[global city]].<ref>{{cite web|title=The World According to GAWC 2012|url=http://www.lboro.ac.uk/gawc/world2012t.html|publisher=GAWC|access-date=7 April 2014|archive-date=20 March 2014|archive-url=https://web.archive.org/web/20140320212149/http://www.lboro.ac.uk/gawc/world2012t.html|url-status=dead}}</ref>

In 2015, Turkey and Azerbaijan agreed to boost mutual trade to US$15 billion by 2023.<ref>{{cite news|title=Turkey, Azerbaijan intend to boost mutual trade to $15 billion by 2023|url=http://itar-tass.com/en/economy/771401|archive-url=https://archive.today/20150118152136/http://itar-tass.com/en/economy/771401|url-status=dead|archive-date=18 January 2015|access-date=16 January 2015|date=15 January 2015}}</ref>

==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.

==Sectors of the economy==

===Agriculture===
{{Main|Agriculture in Azerbaijan}}
Azerbaijan has the largest agricultural basin in the region. About 54.9 percent of Azerbaijan is agricultural lands. At the beginning of 2007 there were {{Convert|4.76|e6ha|e6acre|sigfig=3|abbr=off}} of utilized agricultural area.<ref name="AG">{{cite web|title=Natural resources |publisher=The State Statistical Committee of the Republic of Azerbaijan |url=http://www.azstat.org/publications/azfigures/2007/en/003.shtml |access-date=2007-05-26 |archive-url=https://web.archive.org/web/20070610085820/http://www.azstat.org/publications/azfigures/2007/en/003.shtml |archive-date=10 June 2007 |url-status=dead }}</ref> In the same year, the total wood resources counted {{Convert|136|e6m3|e6yd3|sigfig=3|abbr=off}}.<ref name="AG"/> Azerbaijan's agricultural scientific research institutes are focused on meadows and pastures, horticulture and [[subtropical]] crops, [[leaf vegetable]]s, [[viticulture]] and [[Azerbaijani wine|wine-making]], cotton growing and [[medicinal plants]].<ref>{{cite web|title=Azerbaijan: Status of Database |publisher=Central Asia and Caucasus Institute |url=http://www.cac-biodiversity.org/aze/aze_database.htm |access-date=28 May 2007 |url-status=dead |archive-url=https://web.archive.org/web/20070320100930/http://www.cac-biodiversity.org/aze/aze_database.htm |archive-date=20 March 2007 }}</ref> In some lands, it is profitable to grow grain, potatoes, [[sugar beet]]s, cotton and tobacco. Livestock, [[dairy product]]s, and wine and [[Distilled beverage|spirits]] are also important farm products. The Caspian [[fishing industry]] is concentrated on the dwindling stocks of [[sturgeon]] and [[Beluga (sturgeon)|beluga]].

Some portions of most products that were previously imported from abroad have begun to be produced locally (among them are Coca-Cola by Coca-Cola Bottlers LTD, beer by Baki-Kastel, parquet by Nehir and oil pipes by EUPEC Pipe Coating Azerbaijan).<ref>{{cite web|title=Industry |publisher=Statistical Yearbook of Azerbaijan 2004 |url=http://www.azstat.org/publications/yearbook/SYA2004/Pdf/18en.pdf |access-date=2007-05-26 |archive-url=https://web.archive.org/web/20070202100114/http://www.azstat.org/publications/yearbook/SYA2004/Pdf/18en.pdf |archive-date=2 February 2007 |url-status=dead }}</ref>

A new program which is prepared by the European Union is aimed to supporting the economic diversification of Azerbaijan.<ref>https://ec.europa.eu/neighbourhood-enlargement/news_corner/news/eu4lankaran-%E2%80%93-new-eu-action-boost-rural-and-regional-competitiveness-azerbaijan_en {{Dead link|date=January 2022}}</ref>

===Manufacturing===
[[File:Parad 878.jpg|thumb|[[Marauder (vehicle)|Marauder (Mine Protected Vehicle)]] is manufactured in Azerbaijan.]]
In 2007, mining and hydrocarbon industries accounted for well over 95 percent of the Azerbaijani economy. Diversification of the economy into manufacturing industries remains a long-term issue.<ref>{{cite web|last1=Snow|first1=Nick|title=Azerbaijan looks beyond energy successes for economic growth|url=http://www.ogj.com/articles/2014/04/azerbaijan-looks-beyond-energy-successes-for-economic-growth.html|website=ogj.com|date=30 April 2014 |publisher=[[Oil & Gas Journal]]|access-date=14 August 2014}}</ref>

As of the late 2000s, the defense industry of Azerbaijan has emerged as an autonomous entity with a growing defense production capability. The ministry is cooperating with the defense sectors of Ukraine, Belarus and Pakistan.<ref name="autogenerated1">{{cite news|url=http://www.rferl.org/featuresarticle/2007/02/2b0bdd2d-49a6-4bff-826d-05edefe4dbdb.html|title=Azerbaijan: Baku Signals New Determination For Defense Reform|work=RadioFreeEurope/RadioLiberty|date=2 February 2012 |access-date=3 March 2015|last1=Giragosian |first1=Richard }}</ref> Along with other contracts, Azerbaijani defense industries and Turkish companies, Azerbaijan will produce 40&nbsp;mm revolver grenade launchers, 107&nbsp;mm and 122&nbsp;mm MLRS systems, Cobra 4×4 vehicles and joint modernization of BTR vehicles in Baku.<ref name="brothership1">{{cite web |url=http://www.news.az/articles/politics/26065 |title=Azerbaijan, Turkey to produce revolver grenade launchers |website=Today.AZ |access-date=3 March 2015}}</ref><ref name="brothership2">[http://en.apa.az/news.php?id=136785 Azerbaijan’s Ministry of Defense Industry plans to assume several projects on technical modernization of Armed Forces] {{webarchive |url=https://web.archive.org/web/20120402090426/http://en.apa.az/news.php?id=136785 |date=2 April 2012 }}</ref><ref name="brothership3">{{cite web|url=http://www.news.az/articles/politics/25988|title=News.Az{{Snd}} Azerbaijan, Turkey sign contract on joint rocket production|access-date=3 March 2015|archive-date=8 November 2010|archive-url=https://web.archive.org/web/20101108063414/http://www.news.az/articles/politics/25988|url-status=dead}}</ref><ref name="brothership4">[http://en.apa.az/news.php?id=136603 Azerbaijani Defense Industry Ministry conducts negotiations with Turkish "Otokar" Company on production of armored vehicles] {{webarchive |url=https://web.archive.org/web/20120325182937/http://en.apa.az/news.php?id=136603 |date=25 March 2012 }}</ref>

====Financial and business services====
{{Main|Banking in Azerbaijan}}
The banking sector remains small in relation to the size of the Azerbaijani economy.

====Telecommunications====
{{Main|Communications in Azerbaijan}}

The Azerbaijan telecommunications sector is embroiled in corruption. Azerbaijan President Ilham Aliyev and his family own two of Azerbaijan's largest mobile providers ([[Nar (company)|Azerfon]] and [[Azercell]]) through offshore companies and potentially control three-quarters of the mobile market in Azerbaijan.<ref name=":4">{{Cite news |last=Ismayilova |first=Khadija |date=2014-07-15 |title=TeliaSonera's Behind-The-Scenes Connection To Azerbaijani President's Daughters |language=en |work=Radio Free Europe/Radio Liberty |url=https://www.rferl.org/a/teliasonera-azerbaijan-aliyev-corruption-investigation-occrp/25457907.html}}</ref> The third large mobile provider is Bakcell, which is registered as a company in an offshore tax haven and whose owners are unknown.<ref name=":4" /> Ownership of the mobile providers in Azerbaijan enables the ruling Aliyev family to monitor phone calls and internet activity.<ref name=":4" />

Investigative reporting revealed that Azerbaijani President Ilham Aliyev and his family made more than $1 billion when state shares of mobile operators were transferred to a purportedly "local partner" which was in reality owned by the Aliyev family's offshore companies.<ref>{{Cite web |date=2015 |title=Offshores Close to President Paid Nothing for State Share of Telecom - Corruptistan |url=https://www.occrp.org/en/corruptistan/azerbaijan/azerbaijan-telecom/offshores-paid-nothing-for-share-of-state-telecom |website=OCCRP |language=en |access-date=2 January 2024 |archive-date=2 January 2024 |archive-url=https://web.archive.org/web/20240102163914/https://www.occrp.org/en/corruptistan/azerbaijan/azerbaijan-telecom/offshores-paid-nothing-for-share-of-state-telecom |url-status=dead }}</ref>

Azerbaijan has relatively expensive call rates relative to comparable countries. The high prices are possibly due to consolidated control of the mobile market and a lack of competition.<ref name=":4" />

The Azerbaijan government has stated that it wants to create a high-tech sector in Azerbaijan.<ref>{{cite web|title=Azerbaijan aims for hi-tech state|work=euronews |url=http://www.euronews.net/2010/11/26/azerbaijan-aims-for-hi-tech-state/|publisher=[[Euronews]]|access-date=19 December 2010}}</ref>

====Tourism====
{{See also|Tourism in Azerbaijan}}
[[File:Ancient Azerbaijan 4.jpg|thumb|[[Petroglyphs]] in [[Gobustan State Reserve|Gobustan]] dating back to 10,000&nbsp;BC indicating a thriving culture. It is a UNESCO [[World Heritage Site]] considered to be of "outstanding universal value".]]
Tourism is an important part of the economy of Azerbaijan. The country was a well-known tourist spot in the 1980s. However, the fall of the Soviet Union, and the [[First Nagorno-Karabakh War]] during the 1988–1994 period, damaged the tourist industry and the image of Azerbaijan as a tourist destination.<ref>{{cite web |url=http://www.osce.org/baku/27857 |title=Rapid Tourism Assessment for the Azerbaijan Tourism Sector Development Program |website=[[Organization for Security and Cooperation in Europe]] |access-date=2013-09-09 }}</ref>

It was not until the 2000s that the tourism industry began to recover, and the country has since experienced a high rate of growth in the number of tourist visits and overnight stays.<ref>[http://www.azadliq.org/content/article/388501.html Azərbaycan Qarabağın turizm imkanlarını təbliğ edir] {{in lang|az}}</ref> In recent years, Azerbaijan has also become a popular destination for religious, spa, and health care tourism.<ref name="Baku Boom Has Yet to Hit Regions">{{cite web|last=Ismayilov |first=Rovshan |title=Azerbaijan: Baku Boom Has Yet to Hit Regions |publisher=EurasiaNet |url=http://www.eurasianet.org/departments/insight/articles/eav081307.shtml |access-date=12 August 2007 |archive-url=https://web.archive.org/web/20070819211953/http://www.eurasianet.org/departments/insight/articles/eav081307.shtml |archive-date=19 August 2007 |url-status=live }}</ref> During winter, the [[Shahdag Winter Complex]] offers skiing.

The [[government of Azerbaijan]] has set the development of Azerbaijan as an elite tourist destination a top priority.<ref>{{cite web|last1=Cree |first1=Richard |title=Azerbaijan on Director magazine |url=http://www.director.co.uk/magazine/2010/7_July_August/azerbaijan_63_11.html |website=director.co.uk |access-date=14 August 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140702121348/http://director.co.uk/MAGAZINE/2010/7_July_August/azerbaijan_63_11.html |archive-date=2 July 2014 }}</ref> It is a national strategy to make tourism a major, if not the single largest, contributor to the Azerbaijani economy.<ref>{{cite web|url=http://www.tourism.az/?menu=1&submenu=12&lang=eng |title=Ministry of Culture and Tourism of Azerbaijan: Goals |publisher=Tourism.az |date=6 February 2004 |access-date=4 January 2011 |archive-url=https://web.archive.org/web/20101128233315/http://tourism.az/?menu=1&submenu=12&lang=eng |archive-date=28 November 2010 |url-status=live }}</ref> These activities are regulated by the [[State Tourism Agency]] and [[the Ministry of Culture]].
The [[List of Formula One Grands Prix|Formula One Grand Prix]] is held in [[Baku]], the capital city, and has been held here for years.

==Currency system==
{{See also|Azerbaijani manat}}
The [[Azerbaijani manat]] is the currency of Azerbaijani, denominated as the [[Azerbaijani manat|manat]], subdivided into 100 [[Azerbaijani manat|qapik]]. The manat is issued by the [[Central Bank of Azerbaijan]], the monetary authority of Azerbaijan. The [[ISO 4217]] abbreviation is AZN. The Latinised symbol is ([[File:Azeri manat symbol.svg|13px]]).

The manat is held in a floating [[exchange-rate]] system, managed primarily against the US dollar. The [[Exchange rate|rate of exchange]] (Azerbaijani manat per US$1) for 28 January 2016, was AZN 1.60.

There is a complex relationship between Azerbaijan's [[balance of trade]], inflation, measured by the [[consumer price index]] and the value of its currency. Despite allowing the value of the manat to "float", Azerbaijan's [[central bank]] has decisive ability to control its value in relationship to other currencies.

==Infrastructure==

===Energy===
{{main|Energy in Azerbaijan}} {{Further|Petroleum industry in Azerbaijan}}
[[File:Baku pipelines.svg|thumb|right|The [[Baku-Tbilisi-Ceyhan pipeline]] (green) is one of several pipelines running from Baku.]]
Two-thirds of Azerbaijan is rich in oil and natural gas.<ref name="AZ">{{cite web|title=Azerbaijan{{Snd}} General Information |publisher=Heydar Aliyev Foundation |url=http://www.azerbaijan.az/_Geography/_GeneralInfo/_generalInfo_e.html |access-date=2007-05-22 |archive-url=https://web.archive.org/web/20070528033940/http://www.azerbaijan.az/_Geography/_GeneralInfo/_generalInfo_e.html |archive-date=28 May 2007 |url-status=live }}</ref> The region of the [[Lesser Caucasus]] accounts for most of the country's gold, silver, iron, copper, [[titanium]], [[chromium]], [[manganese]], [[cobalt]], [[molybdenum]], complex [[ore]] and [[antimony]].<ref name="AZ"/> In September 1994, a 30-year contract was signed between the [[State Oil Company of Azerbaijan Republic]] (SOCAR) and 13&nbsp;oil companies, among them [[Amoco]], [[BP]], [[ExxonMobil]], [[Lukoil]] and [[Statoil]].<ref name="AZE">{{cite web|title=Azerbaijan{{Snd}} General Information |publisher=Heydar Aliyev Foundation |url=http://www.azerbaijan.az/_Economy/_GeneralInfo/_generalInfo_e.html |access-date=2007-05-22 |archive-url=https://web.archive.org/web/20070505020428/http://www.azerbaijan.az/_Economy/_GeneralInfo/_generalInfo_e.html |archive-date=5 May 2007 |url-status=live }}</ref> As Western oil companies are able to tap deep-water [[oil field|oilfields]] untouched by the Soviet exploitation, Azerbaijan is considered one of the most important spots in the world for [[Hydrocarbon exploration|oil exploration]] and development.<ref>{{cite web| title = Azerbaijan: Economy| publisher = globalEDGE| url = http://globaledge.msu.edu/countryInsights/economy.asp?countryID=11&regionID=3| archive-url = https://web.archive.org/web/20071012194537/http://globaledge.msu.edu/countryInsights/economy.asp?countryID=11&regionID=3| url-status = dead| archive-date = 12 October 2007| access-date = 29 May 2007}}</ref>  Azeriqaz, a sub-company of SOCAR, intends to ensure full gasification of the country by 2021.<ref>{{cite web|url=http://abc.az/eng/news_13_02_2010_42618.html |title=SOCAR plans to completed full gasification of Azerbaijan only by 2021 |publisher=Azerbaijan Business Center |access-date=6 June 2010}}</ref>

===Transportation===
{{Main|Transportation in Azerbaijan}}
The convenient location of Azerbaijan on the crossroad of major international traffic arteries, such as the [[Silk Road]] and the south–north corridor, highlights the strategic importance of the transportation sector for the country's economy.<ref>{{cite web | last =Ziyadov | first =Taleh | author-link =Taleh Ziyadov | title =The New Silk Roads | publisher =Central Asia-Caucasus Institute Silk Road Studies Program | url =http://www.silkroadstudies.org/new/docs/publications/GCA/GCAPUB-10.pdf | url-status =dead | archive-url =https://web.archive.org/web/20130725084438/http://www.silkroadstudies.org/new/docs/publications/GCA/GCAPUB-10.pdf | archive-date =25 July 2013 }}</ref> The transport sector in the country includes roads, railways, aviation, and maritime transport.

Azerbaijan is also an important economic hub in the transportation of raw materials. The [[Baku-Tbilisi-Ceyhan pipeline]] (BTC) became operational in May 2006 and extends more than 1,774&nbsp;kilometers through the territories of Azerbaijan, Georgia and Turkey. The BTC is designed to transport up to 50&nbsp;million tons of crude oil annually and carries oil from the Caspian Sea oilfields to global markets.<ref>{{cite journal
 |publisher=The Central Asia-Caucasus Institute, Silk Road Studies Program
 |author=Zeyno Baran
 |author-link=Zeyno Baran
 |title=The Baku-Tbilisi-Ceyhan Pipeline: Implications for Turkey
 |url=http://www.silkroadstudies.org/BTC_6.pdf
 |journal=The Baku-Tbilisi-Ceyhan Pipeline: Oil Window to the West
 |pages=103–118
 |year=2005
 |access-date=30 December 2007
 |url-status=dead
 |archive-url=https://web.archive.org/web/20080227022300/http://www.silkroadstudies.org/BTC_6.pdf
 |archive-date=27 February 2008
}}
</ref> The [[South Caucasus Pipeline]], also stretching through the territory of Azerbaijan, Georgia and Turkey, became operational at the end of 2006 and offers additional gas supplies to the European market from the [[Shah Deniz gas field]]. Shah Deniz is expected to produce up to 296&nbsp;billion cubic meters of natural gas per year.<ref>{{cite press release|title=SCP Commissioning Commences |publisher=[[BP]] |url=http://www.bp.com/genericarticle.do?categoryId=9006615&contentId=7018471 |date=1 June 2006 |access-date=4 June 2008 |url-status=dead |archive-url=https://web.archive.org/web/20071011104709/http://www.bp.com/genericarticle.do?categoryId=9006615&contentId=7018471 |archive-date=11 October 2007 }}</ref> Azerbaijan also plays a major role in the EU-sponsored Silk Road Project.

In 2012, the construction of [[Kars–Tbilisi–Baku railway]] expected to provide transportation between Asia and Europe through connecting the railways of China and [[Kazakhstan]] in the east with Turkey's [[Marmaray]] to the European railway system in the west. [[Russian gauge|Broad gauge]] railways in 2010 stretched for {{convert|2918|km|0|abbr=on}} and [[electrified railway]]s numbered {{convert|1278|km|0|abbr=on}}. By 2010, there were 35 airports and one [[heliport]].<ref name="CIAWFAJ"/>

===Regulation===
[[Single-window system|Single window system]] shares needed information through a single gateway with all organizations serving in trade field, as well as abolishes useless processes and raises the effectiveness of cooperation among different parties. 73 economies implement single window system in the world. [[Azerbaijan]] started to implement this system in 2009.<ref name=":0">{{Cite book|url=https://www.doingbusiness.org/content/dam/doingBusiness/media/Annual-Reports/English/DB14-Full-Report.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.doingbusiness.org/content/dam/doingBusiness/media/Annual-Reports/English/DB14-Full-Report.pdf |archive-date=2022-10-09 |url-status=live |edition=11th |title=Doing Business 2014 |publisher=[[The World Bank]] |date=29 October 2013 |isbn=978-0-8213-9983-5 |pages=60–65 |doi=10.1596/978-0-8213-9984-2 |hdl=10986/16204 }}</ref> It implemented an [[E-Government]] portal as well.<ref>{{Cite web|url=http://president.az/articles/564|title=2010-2012 State Program on Development of Communication and Information Technologies in the Republic of Azerbaijan (Electronic Azerbaijan)|website=president.az|language=az|access-date=2017-10-06}}</ref><ref>{{Cite web|url=https://www.e-gov.az/en/content/read/7|title=Service providers|website=e-gov.az|language=en|access-date=2017-10-06|archive-date=6 October 2017|archive-url=https://web.archive.org/web/20171006162839/https://www.e-gov.az/en/content/read/7|url-status=dead}}</ref>

A [[single-window system]] was established by a decree of the [[President of Azerbaijan|Azerbaijani President]] issued in 2007, 30 April, in order to simplify export-import procedures, innovate customs services, and improve the trade environment.<ref name=":0" />  The president appointed the [[State Customs Committee (Azerbaijan)|State Customs Committee]] as the leading body of controlling goods and transportation passing through the borders of the country in 2008.<ref name=":1">{{Cite web |title=Single-window: Decree of the President of Azerbaijan (11 November 2008) |url=http://customs.gov.az/az/faydali/innovativ-layiheler/bir-pencere/ |access-date=2017-10-04 |website=customs.gov.az |language=az}}</ref>

The [[State Migration Service (Azerbaijan)|State Migration Service]] issues appropriate permits for foreigners and stateless persons coming to Azerbaijan to live and work. The "single window" principle has been applied on migration management processes starting from 1 July 2009 according to the Decree.<ref>{{Cite web|url=http://mfa.gov.az/files/file/32_32.pdf|title=Decree of the President of Azerbaijan on Implementation of the "single window" principle in the management of migration processes|website=mfa.gov.az|access-date=2017-10-04|archive-date=17 October 2012|archive-url=https://web.archive.org/web/20121017073141/http://mfa.gov.az/files/file/32_32.pdf|url-status=dead}}</ref>

==Poverty==
{{excerpt|Poverty in Azerbaijan}}

==Other economic indicators==
:''Data from CIA World Factbook<ref name="CIAWFAJ"/> unless noted otherwise''

;Investment (gross fixed):
17% of GDP (2011 est.)

;Household income or consumption by percentage share:
* ''lowest 10%:'' 3.4%
* ''highest 10%:'' 27.4% (2008)

;Inflation rate (consumer prices):
1.1% (2012 est.)

;Agriculture:
* ''utilized agricultural land:'' {{convert|47584|km2}} (2011)<ref name="AG"/>
* ''total wood resources:'' 144,2 million cubic meters
* ''crops:'' [[Cotton production in Azerbaijan|cotton]], rice and other grains, grapes, fruit, vegetables, tea, tobacco
* ''livestock products:'' beef, [[mutton]], poultry, milk, eggs

;Industrial production growth rate:
-3% (2011 est.)

;Electricity:
* ''production:'' 22,55 billion kWh (2008)
* ''consumption:'' 18,8 billion kWh (2008)
* ''exports:'' 812 million kWh (2008)
* ''imports:'' 596 million kWh (2008)

;Current account balance:
* $11,12 billion (2011 est.)

;Exports{{Snd}} commodities:
* [[petroleum]] and [[natural gas]], [[petroleum products]], oilfield equipment; steel, [[iron ore]], cement; chemicals, [[petrochemicals]], textiles, machinery, cotton, [[Sheep farming in Azerbaijan|foodstuffs]].

;Reserves of foreign exchange and gold:
* $7,146 billion (2011 est.)

;Debt{{Snd}} external:
* $3.89 billion (2011 est.)

;Currency:
* 1 [[Azerbaijani manat|Manat]] = 100 gepik

;Exchange rates:
* Azerbaijani manat per US dollar{{Snd}} 1.7 (for 22 November 2020)<ref name="autogenerated2">http://www.cbar.az/ {{Webarchive|url=https://web.archive.org/web/20100314050016/http://www.cbar.az/ |date=14 March 2010 }} Central Bank of the Azerbaijan Republic, accessed 24 July 2015</ref>
* Azerbaijani manat per Euro{{Snd}} 2.01 (for 22 November 2020)<ref name="autogenerated2"/>

;Fiscal year:
* Calendar year

==See also==
{{Portal|Money}}
* [[Azerbaijan and the International Monetary Fund]]
* [[List of companies of Azerbaijan]]
* [[Baku-Tbilisi-Ceyhan pipeline]]
* [[State Oil Company of Azerbaijan]]
* [[Petroleum industry in Azerbaijan]]
* [[Agriculture in Azerbaijan]]
* [[Tourism in Azerbaijan]]
* [[Sheep farming in Azerbaijan]]

==References==
{{Reflist}}

==Further reading==
* Habibov, Nazim: "Poverty in Azerbaijan" in the [http://www.laender-analysen.de/cad/pdf/CaucasusAnalyticalDigest34.pdf Caucasus Analytical Digest No. 34]
* {{cite book|last=Küpeli|first=Ismail|title=Aserbaidschan{{Snd}} ein autoritärer Rentierstaat? Politik und Ökonomie unter dem Aliyev-Regime|publisher=Optimus Verlag|location=Göttingen|year=2013|isbn=978-3-86376-042-7}}

==External links==
* Hübner, Gerald: "As If Nothing Happened? How Azerbaijan's Economy Manages to Sail Through Stormy Weather" in the [http://www.laender-analysen.de/cad/pdf/CaucasusAnalyticalDigest18.pdf Caucasus Analytical Digest No. 18]

{{Azerbaijan topics}}
{{Asia in topic|Economy of}}
{{Economy of Europe}}

{{DEFAULTSORT:Economy of Azerbaijan}}
[[Category:Economy of Azerbaijan| ]]
[[Category:Economies of Europe by country|Azerbaijan]]