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
total: 10,650,239
male: 5,330,233
female: 5,320,006 (2024 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% (2024 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, onions, maize (2022)
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 47%, Turkey 9%, Israel 4%, India 4%, Greece 4% (2022)
Exports - commodities
crude petroleum, natural gas, refined petroleum, fertilizers, aluminum (2022)
Imports
$21.274 billion (2022 est.)
$16.432 billion (2021 est.)
$15.632 billion (2020 est.)
Imports - partners
Russia 17%, Turkey 17%, China 10%, UAE 5%, Georgia 5% (2022)
Imports - commodities
cars, refined petroleum, crude petroleum, wheat, packaged medicine (2022)
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: Tuesday, May 07, 2024
