Azerbaijan

MINISTRY OF
ECONOMIC
DEVELOPMENT

Sahil R.Babayev
Head of Department

Azerbaijan Country Presentation

MINISTRY OF
ECONOMIC
DEVELOPMENT

I Establishment: 28 May 1918
I Independence: 18 October 1991
I Language:

Azerbaijanian

I Area:

86.6 ths. km2

I Population:

9 million

I Capital:

Baku

I Currency:

Manat *

* (0.8 AZN=1 USD)

Basic information

MINISTRY OF
ECONOMIC
DEVELOPMENT

Interesting facts

I 50% of world oil production in XIX century

I 80% of total Soviet oil production during World War II

I First Baku ‘oil boom’

I Nobel’s first Kerosene factory I First Baku-Batumi Pipeline I Nobel’s distribution system

I 1846–first hand-dug oil wells I First rail tank cars

MINISTRY OF
ECONOMIC
DEVELOPMENT

Macroeconomic figures

2010
2010

GDP growth rate

5%

GDP per capita ($)

GDP growth

5,697

5 %
Income growth rate of population

Investments ($)

17.4 bln

FDI ($)

3.3 bln

Inflation

5.7 %

Unemployment rate

6%

Poverty level

9.1%

Non-oil investments

Average monthly salary ($)

406

12.1 bln $

12.3%
Total investments

17.4 bln $

Strategic currency reserves

29 bln $

MINISTRY OF
ECONOMIC
DEVELOPMENT

Macroeconomic figures
34,5
26,4

I GDP growth rate (%)
I GDP per capita ($)

11,2 10,1

25
10,8 9.3

5

2003 2004 2005 2006 2007 2008 2009 2010

MINISTRY OF
ECONOMIC
DEVELOPMENT

GDP share in the region

I GDP share in the South Caucasus (%)
80
60
50
40
30
20
10

52

50
31
20

52

30

29
19 19

52

52

28
20

50
28

29
21
20

54

60

26
20

66

63

22
18

19
18

productivity

70

17
16

69

17
14

71

16
13

0
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Azerbaijan
Georgia
Armenia

MINISTRY OF
ECONOMIC
DEVELOPMENT

Investments

*1995-2010

MINISTRY OF
ECONOMIC
DEVELOPMENT

Poverty reduction