Table of Contents

    The Economy of Azerbaijan

    📊Economic Indicators

    Major Indicators

    Azerbaijan
    Global Median

    Latest Indicator Releases

    Mar 23, 2023LatestPrevious
    Labor Cost Index274.22270.30
    Unemployment Rate (Monthly)5.6005.600
    Mar 22, 2023LatestPrevious
    Employment5.0605.050
    Mar 7, 2023LatestPrevious
    Industrial Production-4.300-1.100
    Mar 2, 2023LatestPrevious
    Exchange Rate1.7001.700
    Feb 25, 2023LatestPrevious
    Real GDP Growth4.5905.690
    Government Expenditure3.3403.690
    GDP34.6733.55
    Capital Formation (Local Currency)3.6603.670
    Investment Growth0.58011.73

    🔁Trade

    Source: United Nations

    Trade Balance

    Imports
    Exports

    Major Trade Partners

    Country
    Trade Value
    % of Trade
    Import Value
    Export Value
    Balance
    		Region
    Italy$9.56b81.73$419.41m$9.14b$8.72bEurope
    Russia$3.11b26.54$2.07b$1.03b-$1.04bAsia
    Turkey$2.59b22.18$1.84b$751.29m-$1.09bMiddle East
    China$1.84b15.77$1.64b$205.03m-$1.43bAsia
    Germany$1.47b12.54$632.75m$834.38m$201.63mEurope
    Ukraine$1.12b9.58$468.86m$651.71m$182.84mEurope
    Spain$779.67m6.66$81.38m$698.29m$616.91mEurope
    Croatia$760.01m6.5$3.38m$756.63m$753.25mEurope
    Georgia$700.68m5.99$102.31m$598.38m$496.07mEurope
    Tunisia$686.71m5.87$2.52m$684.19m$681.67mAfrica

    🗞News

    Azerbaijan's Economy
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