Europe & Central Asia · Upper middle income
Azerbaijan: the economy in numbers
Per person: $7,411, or $26,113 at purchasing power parity. Population: 10.2 million (2025).
GDP in 2025, current US dollars: #87 of 204 economies. IMF forecast for 2026: +1.7%.
GDP
Adjusted for US inflation, in 2025 dollars: $21.9 billion in 1990, $75.9 billion in 2025.
GDP per capita
In 2025 dollars: $3,054 per person in 1990, $7,411 in 2025.
Real GDP growth
Average over 2016–2025: 1.4% a year. Years of falling GDP since 1991: 8 of 35.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Inflation
Consumer prices rose 4.7 times from 2000 to 2025. Highest annual inflation: 1,662% in 1994. Years with inflation above 100%: 3. The chart cuts the scale at 100%; “Full scale” shows everything.
Source: International Monetary Fund, World Economic Outlook (October 2026)
Government debt, % of GDP
Highest since 1995: 26.3% of GDP in 2021. IMF forecast for 2031: 16.7%.
Source: World Bank, World Development Indicators (CC BY 4.0)
Stock market capitalization, % of GDP
In 2025 listed domestic companies were worth $1.57 billion, or 2.1% of GDP.
Population
1960: 3.89 million · 2025: 10.2 million.
Unemployment rate
1991: 0.9% · 2025: 5.5%.
Life expectancy at birth
1960: 50.9 years · 2024: 74.6 years.
Exports of goods and services
1990: 43.9% · 2025: 43.0%.
Data by year
Show the year-by-year table
| Year | GDP | GDP per capita | Per capita, PPP | Real growth | Inflation | Gov. debt, % GDP | Population | Unemployment | Stock market, % GDP | Life expectancy | Exports, % GDP |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2031 | 2.5%f | 4.0%f | 16.7%f | ||||||||
| 2030 | 2.5%f | 4.0%f | 16.6%f | ||||||||
| 2029 | 2.5%f | 4.0%f | 16.5%f | ||||||||
| 2028 | 2.5%f | 4.8%f | 16.5%f | ||||||||
| 2027 | 2.3%f | 5.6%f | 16.4%f | ||||||||
| 2026 | 1.7%f | 5.8%f | 16.5%f | ||||||||
| 2025 | $75.9B | $7,411 | $26,113 | 1.4% | 5.6% | 20.1% | 10.2M | 5.5% | 2.1% | 43.0% | |
| 2024 | $74.4B | $7,295 | $25,146 | 4.2% | 2.2% | 21.6% | 10.2M | 5.6% | 2.2% | 74.6 | 45.8% |
| 2023 | $72.4B | $7,133 | $23,671 | 1.4% | 8.8% | 21.8% | 10.2M | 5.6% | 2.2% | 74.4 | 49.0% |
| 2022 | $78.8B | $7,771 | $22,549 | 4.7% | 13.9% | 17.3% | 10.1M | 5.7% | 1.9% | 74.1 | 60.0% |
| 2021 | $54.8B | $5,408 | $20,111 | 5.6% | 6.7% | 26.3% | 10.1M | 6.0% | 2.9% | 71.0 | 46.5% |
| 2020 | $42.7B | $4,230 | $15,164 | −4.2% | 2.8% | 21.3% | 10.1M | 7.2% | 3.4% | 70.3 | 35.6% |
| 2019 | $48.2B | $4,806 | $16,675 | 2.5% | 2.6% | 17.7% | 10M | 5.0% | 4.5% | 73.3 | 49.1% |
| 2018 | $47.1B | $4,740 | $15,283 | 1.5% | 2.3% | 18.7% | 9.94M | 4.9% | 73.0 | 54.1% | |
| 2017 | $40.9B | $4,147 | $14,316 | 0.2% | 12.9% | 22.5% | 9.85M | 5.0% | 72.7 | 48.5% | |
| 2016 | $37.9B | $3,881 | $14,536 | −3.1% | 12.4% | 20.6% | 9.76M | 5.0% | 72.6 | 46.4% | |
| 2015 | $53.1B | $5,501 | $15,075 | 1.0% | 4.0% | 18.0% | 9.65M | 5.0% | 72.3 | 37.8% | |
| 2014 | $75.2B | $7,891 | $17,564 | 2.8% | 1.4% | 8.5% | 9.54M | 4.9% | 71.9 | 43.3% | |
| 2013 | $74.2B | $7,875 | $17,268 | 5.8% | 2.4% | 6.2% | 9.42M | 5.0% | 71.5 | 48.4% | |
| 2012 | $69.7B | $7,496 | $15,994 | 2.2% | 1.1% | 5.8% | 9.3M | 5.2% | 71.1 | 53.0% | |
| 2011 | $66B | $7,190 | $14,805 | −1.6% | 7.9% | 5.0% | 9.17M | 5.4% | 70.6 | 56.4% | |
| 2010 | $52.9B | $5,844 | $14,930 | 4.8% | 5.7% | 5.0% | 9.05M | 5.6% | 70.3 | 54.3% | |
| 2009 | $44.3B | $4,950 | $14,246 | 9.4% | 1.5% | 4.7% | 8.95M | 5.7% | 69.9 | 51.6% | |
| 2008 | $48.9B | $5,574 | $13,217 | 10.6% | 20.8% | 3.2% | 8.76M | 5.9% | 69.4 | 65.8% | |
| 2007 | $33B | $3,851 | $11,974 | 25.5% | 16.7% | 4.0% | 8.58M | 6.3% | 68.7 | 68.1% | |
| 2006 | $21B | $2,473 | $9,398 | 34.5% | 8.3% | 5.3% | 8.48M | 6.6% | 68.5 | 66.5% | |
| 2005 | $13.2B | $1,578 | $6,855 | 28.0% | 9.7% | 6.9% | 8.39M | 7.3% | 67.7 | 62.9% | |
| 2004 | $8.68B | $1,045 | $5,248 | 9.3% | 6.7% | 9.7% | 8.31M | 8.0% | 67.5 | 48.8% | |
| 2003 | $7.28B | $884 | $4,718 | 10.2% | 2.2% | 10.7% | 8.23M | 9.2% | 67.0 | 42.0% | |
| 2002 | $6.24B | $763 | $4,230 | 9.4% | 2.8% | 11.9% | 8.17M | 10.0% | 66.8 | 42.8% | |
| 2001 | $5.71B | $704 | $3,835 | 9.9% | 1.5% | 13.0% | 8.11M | 10.9% | 66.0 | 41.5% | |
| 2000 | $5.27B | $655 | $3,439 | 11.1% | 1.8% | 13.1% | 8.05M | 11.8% | 65.4 | 40.2% | |
| 1999 | $4.58B | $574 | $3,052 | 7.4% | −8.5% | 25.4% | 7.98M | 10.9% | 0.1% | 64.7 | 28.0% |
| 1998 | $4.45B | $562 | $2,827 | 10.0% | −0.8% | 14.3% | 7.91M | 10.0% | 0.1% | 63.8 | 22.7% |
| 1997 | $3.96B | $506 | $2,565 | 5.8% | 3.7% | 11.4% | 7.84M | 9.1% | 63.0 | 29.0% | |
| 1996 | $3.18B | $409 | $2,407 | 1.3% | 19.8% | 16.7% | 7.76M | 8.1% | 62.7 | 24.9% | |
| 1995 | $2.42B | $315 | $2,357 | −11.8% | 411.8% | 19.2% | 7.68M | 7.2% | 61.9 | 32.5% | |
| 1994 | $1.19B | $157 | $2,648 | −19.7% | 1,662% | 7.6M | 6.3% | 60.3 | 24.7% | ||
| 1993 | $1.57B | $210 | $3,272 | −23.1% | 1,128% | 7.49M | 4.5% | 61.4 | 57.5% | ||
| 1992 | $445M | $60 | $4,220 | −22.6% | −10.6% | 7.38M | 1.8% | 60.8 | 86.2% | ||
| 1991 | $5.34B | $735 | $5,412 | −0.7% | 7.27M | 0.9% | 62.5 | 45.7% | |||
| 1990 | $8.88B | $1,238 | $5,343 | 7.18M | 62.8 | 43.9% | |||||
| 1989 | 7.08M | 62.9 | |||||||||
| 1988 | 6.97M | 62.7 | |||||||||
| 1987 | 6.88M | 62.8 | |||||||||
| 1986 | 6.77M | 62.6 | |||||||||
| 1985 | 6.67M | 62.7 | |||||||||
| 1984 | 6.57M | 62.1 | |||||||||
| 1983 | 6.46M | 62.5 | |||||||||
| 1982 | 6.36M | 62.2 | |||||||||
| 1981 | 6.26M | 61.9 | |||||||||
| 1980 | 6.16M | 61.4 | |||||||||
| 1979 | 6.07M | 60.9 | |||||||||
| 1978 | 5.98M | 60.5 | |||||||||
| 1977 | 5.88M | 60.0 | |||||||||
| 1976 | 5.78M | 59.5 | |||||||||
| 1975 | 5.69M | 58.7 | |||||||||
| 1974 | 5.59M | 58.3 | |||||||||
| 1973 | 5.49M | 57.9 | |||||||||
| 1972 | 5.39M | 57.5 | |||||||||
| 1971 | 5.28M | 57.0 | |||||||||
| 1970 | 5.17M | 56.6 | |||||||||
| 1969 | 5.06M | 56.1 | |||||||||
| 1968 | 4.95M | 55.6 | |||||||||
| 1967 | 4.83M | 55.0 | |||||||||
| 1966 | 4.71M | 54.5 | |||||||||
| 1965 | 4.57M | 53.9 | |||||||||
| 1964 | 4.44M | 53.3 | |||||||||
| 1963 | 4.29M | 52.7 | |||||||||
| 1962 | 4.17M | 52.1 | |||||||||
| 1961 | 4.05M | 51.4 | |||||||||
| 1960 | 3.89M | 50.9 |
e: IMF estimate; f: IMF forecast.
Nearby economies in Europe & Central Asia
Nearest by distance between capitals, with GDP per capita.
Albania · Andorra · Armenia · Austria · Azerbaijan · Belarus · Belgium · Bosnia and Herzegovina · Bulgaria · Channel Islands · Croatia · Cyprus · Czechia · Denmark · Estonia · Faroe Islands · Finland · France · Georgia · Germany · Gibraltar · Greece · Greenland · Hungary · Iceland · Ireland · Isle of Man · Italy · Kazakhstan · Kosovo · Kyrgyzstan · Latvia · Liechtenstein · Lithuania · Luxembourg · Moldova · Monaco · Montenegro · Netherlands · North Macedonia · Norway · Poland · Portugal · Romania · Russia · San Marino · Serbia · Slovakia · Slovenia · Spain · Sweden · Switzerland · Tajikistan · Turkmenistan · Türkiye · Ukraine · United Kingdom · Uzbekistan
Rankings
GDP by country · GDP per capita · Real GDP growth · Inflation by country · Government debt to GDP · Stock market to GDP · Population by country · Unemployment by country
Data and methods
- GDP: gross domestic product in current US dollars, converted from the local currency at market exchange rates (World Bank); not adjusted for inflation.
- Purchasing power parity (PPP): GDP per person in international dollars, which buy the same basket of goods and services in every country. It compares living standards across countries in the same year; it is not adjusted for inflation over time.
- In 2025 dollars: the charts can remove US inflation (US consumer price index, annual average) so that dollar amounts from different years compare in today's money. Exchange rate swings still show.
- Growth and inflation: World Bank data (calendar years). Years the World Bank does not cover yet, and the estimates and forecasts, come from the IMF World Economic Outlook (October 2026): its forecasts start in 2026, and the years after a country's last actual year are IMF estimates.
- Government debt: gross debt of the general government (central, state and local government and social security funds) as a percentage of GDP, IMF. The World Bank's central government debt is narrower and covers fewer countries.
- Stock market capitalization: the end-of-year value of domestic companies listed on the country's exchanges (World Federation of Exchanges via the World Bank; before 2016, Standard & Poor's), as a percentage of GDP: the “Buffett indicator”. Investment funds are excluded, and so are companies listed only abroad; companies from elsewhere that list on an exchange count for its country (Hong Kong lists many mainland Chinese companies).
- Unemployment: ILO modeled estimates (share of the labor force); comparable across countries, but they may differ from national figures.
Source: World Bank, World Development Indicators (CC BY 4.0)
Source: International Monetary Fund, World Economic Outlook (October 2026)