Economy Overview
Long-term prospects depend on world oil prices, Azerbaijan's ability to implement export routes for its growing gas production, and its ability to improve the business environment and diversify the economy. In late 2016, the President approved a strategic roadmap that identified key non-energy segments of the economy for development, such as agriculture, logistics, and tourism.
Agriculture Products
fruit, vegetables, grain, rice, grapes, tea, cotton, tobacco; cattle, pigs, sheep, goats
Industries
petroleum and petroleum products, natural gas, oilfield equipment; steel, iron ore; cement; chemicals and petrochemicals; textiles
Industrial Production Growth Rate
-4.2% (2016 est.)
Labor Force
5.032 million (2016 est.)
Labor Force by Occupation
Agriculture: 37%
Industry: 14.3%
Services: 48.9% (2014)
Unemployment Rate
5.8% (2015 est.)
Population Below Poverty Line
4.9% (2015 est.)
Household Income or Consumption by Percentage Share
Lowest 10%: 3.4%
Highest 10%: 27.4% (2008)
Distribution of Family Income Gini Index
36.5 (2001)
Budget
Revenues: $10.97 billion
Expenditures: $11.12 billion (2016 est.)
Public Debt
28.3% of GDP (2015 est.)
Central Bank Discount Rate
15% (14 September 2016)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$4.423 billion (31 December 2015 est.)
Stock of Broad Money
$5.523 billion (31 December 2015 est.)
Stock of Domestic Credit
$14.82 billion (31 December 2015 est.)
Market Value of Publicly Traded Shares
$NA
Reserves of Foreign Exchange and Gold
$7.91 billion (31 December 2015 est.)
Debt External
$13.22 billion (31 December 2015 est.)
Stock of Direct Foreign Investment at Home
$66.5 billion (31 December 2015 est.)
Stock of Direct Foreign Investment Abroad
$14.48 billion (31 December 2015 est.)
Exchange Rates
0.79 (2012 est.)
