Azerbaijan

Country Summary

Introduction

Background

Azerbaijan was part of the Soviet Union for over seventy years, until winning its independence in 1991.  A long-running conflict with Armenia over the status of the Nagorno-Karabakh region ended in 2023 when Azerbaijan seized control. The ALIYEV family has been in power in Azerbaijan since 1993.


Geography

Area

total: 86,600 sq km
land: 82,629 sq km
water: 3,971 sq km

Climate

dry, semiarid steppe

Natural resources

petroleum, natural gas, iron ore, nonferrous metals, bauxite

People and Society

Population

10,420,515 (2023 est.)

Ethnic groups

Azerbaijani 91.6%, Lezghin 2%, Russian 1.3%, Armenian 1.3%, Talysh 1.3%, other 2.4% (2009 est.)

Languages

Azerbaijani (Azeri) (official) 92.5%, Russian 1.4%, Armenian 1.4%, other 4.7% (2009 est.)

Religions

Muslim 97.3% (predominantly Shia), Christian 2.6%, other <0.1, unaffiliated <0.1 (2020 est.)

Population growth rate

0.43% (2023 est.)

Government

Government type

presidential republic

Capital

name: Baku (Baki, Baky)

Executive branch

chief of state: President Ilham ALIYEV (since 31 October 2003); First Vice President Mehriban ALIYEVA (since 21 February 2017)
head of government: Prime Minister Ali ASADOV (since 8 October 2019); First Deputy Prime Minister Yaqub EYYUBOV (since 13 February 2003)

Legislative branch

description: unicameral National Assembly or Milli Mejlis (125 seats, current 116; members directly elected in single-seat constituencies by simple majority vote to serve 5-year terms)

Economy

Economic overview

oil-based economy; macroeconomic instabilities due to demand shocks; recent state bailout of largest lender; potential economic gains from Nagorno-Karabakh conflict; negatively impacted by COVID-19; investing in human capital to diversify and retain younger generation

Real GDP (purchasing power parity)

$153.083 billion (2022 est.)
$146.327 billion (2021 est.)
$138.546 billion (2020 est.)

Real GDP per capita

$15,100 (2022 est.)
$14,400 (2021 est.)
$13,700 (2020 est.)

Agricultural products

milk, wheat, potatoes, barley, tomatoes, watermelons, cotton, apples, maize, onions

Industries

petroleum and petroleum products, natural gas, oilfield equipment; steel, iron ore; cement; chemicals and petrochemicals; textiles

Exports

$47.274 billion (2022 est.)
$25.494 billion (2021 est.)
$15.214 billion (2020 est.)

Exports - partners

Italy 28%, Turkey 15%, Israel 7%, Germany 5%, India 5% (2017)

Exports - commodities

crude petroleum, natural gas, refined petroleum, cotton, gold (2021)

Imports

$21.274 billion (2022 est.)
$16.432 billion (2021 est.)
$15.632 billion (2020 est.)

Imports - partners

United Kingdom 17%, Russia 17%, Turkey 12%, China 6% (2019)

Imports - commodities

gold, cars, refined petroleum, wheat, packaged medical supplies (2019)

Exchange rates

Azerbaijani manats (AZN) per US dollar -
Exchange rates:
1.7 (2022 est.)
1.7 (2021 est.)
1.7 (2020 est.)
1.7 (2019 est.)
1.7 (2018 est.)


Page last updated: Friday, April 12, 2024