Markets Actual Q2 Q3 Q4 Q1 2020
Currency 1.69 1.69 1.69 1.69 1.69 1.69
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Annual Growth Rate (%) 3.00 2.1 2.3 2.6 2.5 2.8
Unemployment Rate (%) 5.20 5 5 5 4.5 4.5
Inflation Rate (%) 2.40 2.3 2.4 2.7 2.5 2.4
Interest Rate (%) 8.50 8 7.5 7 7 7
Balance of Trade (USD Thousand) 2506266.00 2172500 2407500 2419000 2419000 2108900
Current Account (USD Million) 963.00 1309 1300 1315 1315 1400
Current Account to GDP (%) 7.90 13.4 13.4 13.4 11 11
Government Debt to GDP (%) 48.40 47.5 47.5 47.5 50.1 50.1
Government Budget (% of GDP) -0.40 -1 -1 -1 -0.8 -0.8
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 25.00 25 25 25 25 25
GDP Actual Q2 Q3 Q4 Q1 2020
GDP Annual Growth Rate (%) 3.00 2.1 2.3 2.6 2.5 2.8
GDP (USD Billion) 40.75 57 57 57 65 65
GDP Constant Prices (AZN Million) 30608.70 38193 59784 82271 11772 84410
Gross Fixed Capital Formation (AZN Million) 4832.40 3245 3461 3448 3428 3538
GDP per capita (USD) 5805.10 6138 6138 6138 6159 6159
GDP per capita PPP (USD) 15847.40 16150 16150 16150 17101 17101
Gross National Product (AZN Million) 67439.50 69598 69800 69530 69125 71338
GDP From Agriculture (AZN Million) 362.20 450 716 714 710 732
GDP From Construction (AZN Million) 896.70 562 810 807 802 828
GDP From Manufacturing (AZN Million) 371.30 304 337 336 334 345
GDP From Mining (AZN Million ) 3968.20 2534 3631 3617 3596 3711
GDP From Public Administration (AZN Million) 220.40 131 203 202 201 208
GDP From Services (AZN Million ) 724.50 651 622 619 616 635
GDP From Transport (AZN Million) 1010.00 874 1023 1019 1013 1045
GDP From Utilities (AZN Million) 41.70 31.58 31.15 31.03 30.85 31.84
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 5.20 5 5 5 4.5 4.5
Unemployed Persons (Thousand ) 251.70 249 249 249 245 245
Minimum Wages (AZN/Month) 143.00 143 143 143 151 151
Population (Million) 9.90 10 10 9.9 10 10
Living Wage Family (AZN/Month) 940.00 772 772 772 772 775
Living Wage Individual (AZN/Month) 865.00 482 482 482 482 485
Wages (AZN/Month) 581.20 555 557 560 560 570
Wages High Skilled (AZN/Month) 666.00 670 670 670 670 680
Wages In Manufacturing (AZN/Month) 554.00 590 590 590 590 620
Wages Low Skilled (AZN/Month) 341.00 415 415 415 415 440
Retirement Age Men 63.50 64 64 64 64.5 64.5
Retirement Age Women 60.50 61 61 61 61.5 61.5
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 2.40 2.3 2.4 2.7 2.5 2.4
Inflation Rate Mom (%) -0.40 -0.2 0.7 0.6 0.5 0.7
Food Inflation (%) 2.30 4.3 4.7 5 5 4.5
Consumer Price Index Cpi (Index Points) 156.54 157 159 161 161 166
Producer Prices (Index Points) 107.10 133 136 121 121 139
Producer Prices Change (%) 6.10 35 31 29 29 15
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 8.50 8 7.5 7 7 7
Money Supply M2 (AZN Million) 14965.30 14000 14150 14190 14190 14500
Deposit Interest Rate (%) 8.43 7.43 6.93 6.43 6.43 6.43
Foreign Exchange Reserves (USD Million) 5778.60 5610 5630 5650 5650 5750
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (USD Thousand) 2506266.00 2172500 2407500 2419000 2419000 2108900
Current Account (USD Million) 963.00 1309 1300 1315 1315 1400
Current Account to GDP (%) 7.90 13.4 13.4 13.4 11 11
Imports (USD Thousand) 3058779.00 2497500 2319500 2380000 2380000 2791100
Exports (USD Thousand) 5565045.00 4670000 4727000 4799000 4799000 4900000
Crude Oil Production (BBL/D/1K) 813.00 801 803 805 805 803
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Foreign Direct Investment (USD Million) 1176.00 870 845 830 830 815
Tourist Arrivals 13455.00 17500 17500 17500 19000 19000
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 48.40 47.5 47.5 47.5 50.1 50.1
Government Budget (% of GDP) -0.40 -1 -1 -1 -0.8 -0.8
Government Spending (AZN Million) 2323.80 2262 2269 2260 2247 2319
Government Spending To GDP (% of GDP) 28.50 26.4 26.4 26.4 26.1 26.1
Taxes Actual Q2 Q3 Q4 Q1 2020
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 25.00 25 25 25 25 25
Sales Tax Rate (%) 18.00 18 18 18 18 18
Social Security Rate (%) 25.00 25 25 25 25 25
Social Security Rate For Companies (%) 22.00 22 22 22 22 22
Social Security Rate For Employees (%) 3.00 3 3 3 3 3
Business Actual Q2 Q3 Q4 Q1 2020
Industrial Production (%) 2.20 -0.8 -0.8 -0.8 1.8 1.8
Manufacturing Production (%) -2.00 5.3 5.3 5.3 4.8 4.8
Leading Economic Index (%) 2.20 1.8 1.9 2 2 3.1
Mining Production (%) 1.08 6.5 6.2 6 6 5.8
Car Registrations 1147437.00 1157000 1159000 1160000 1170000 1170000
Changes In Inventories (AZN Million) -120.20 38.2 41.1 36.6 36.6 22.9
Consumer Actual Q2 Q3 Q4 Q1 2020
Retail Sales YoY (%) 3.00 5.8 5.8 5.8 5.5 5.5
Gasoline Prices (USD/Liter) 0.53 0.51 0.5 0.49 0.48 0.48
Disposable Personal Income (AZN Million) 44983.30 46423 46558 46378 46108 47584
Consumer Spending (AZN Million) 11099.90 11281 11314 11270 11205 11563


This page has economic forecasts for Azerbaijan including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Azerbaijan economy.