UN-OHRLLS

Location: South western Asia

Capital: Baku

Population (2012):  9,493,600

Surface area: 86,600 sq km

Currency: Azerbaijani Manat

GDP per capita (2011): US $ 6,813

Azerbaijan’s high economic growth during 2006-08 was attributable to large and growing oil exports, but some non-export sectors also featured double-digit growth, spurred by growth in the construction, banking, and real estate sectors. In 2009, economic growth remained above 9% even as oil prices moderated and growth in the construction sector cooled. In 2010-2012, economic growth slowed to 3-4 %, although the impact of the global financial crisis was less severe than in many other countries in the region. The current global economic slowdown presents some challenges for the Azerbaijani economy as oil prices remain below their mid-2008 highs, highlighting Azerbaijan’s reliance on energy exports and lacklustre attempts to diversify its economy. Azerbaijan’s oil production increased dramatically in 1997, when Azerbaijan signed the first production-sharing arrangement (PSA) with the Azerbaijan International Operating Company. Oil exports through the Baku-Tbilisi-Ceyhan Pipeline remain the main economic driver while efforts to boost Azerbaijan’s gas production are underway.

Human Development Index ranking (2012): 82 out of 186

Net Official Development Assistance (ODA) (2011): US $ 292 million

Top Three Donors of gross ODA: IDA, United States, Germany

FDI inflows (2012): $ 2,005million

Total External Debt (2011): US $ 8.4 billion

External debt stock (% of GNI) (2011): 14.9

Merchandise exports (2011): US$ 34,494 million

Terms of trade index (2012): 207.7

Major export commodities: Petroleum oils, petroleum gases

Cost to export per container (2013): US $ 3,430

HIPC Position (2013): Not eligible