Markets Actual Q1 Q2 Q3 Q4 2020
Currency 1.69 1.69 1.69 1.69 1.69 1.69
Overview Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 2.50 2.5 2.5 2.7 2.8 2.8
Unemployment Rate (%) 5.20 4.9 4.9 4.9 4.9 4.9
Inflation Rate (%) 2.60 2.5 2.4 2.3 2.4 4
Interest Rate (%) 7.50 7.5 7.75 7.75 8 8.5
Balance of Trade (USD Thousand) 2008164.70 2419000 2419000 2419000 2108900 2108900
Current Account (USD Million) 941.00 1315 1315 1315 1400 1400
Current Account to GDP (%) 7.90 10 10 10 10 7.5
Government Debt to GDP (%) 48.40 50.1 50.1 50.1 50.1 53.4
Government Budget (% of GDP) -0.40 3 3 3 3 2.5
Corporate Tax Rate (%) 20.00 20 20 20 20 20
Personal Income Tax Rate (%) 25.00 25 25 25 25 25
GDP Actual Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 2.50 2.5 2.5 2.7 2.8 2.8
GDP (USD Billion) 46.94 49 49 49 49 50
GDP Constant Prices (AZN Million) 81681.00 18564 38771 60043 74892 76989
Gross Fixed Capital Formation (AZN Million) 3513.30 2338 3601 3608 3612 3713
GDP per capita (USD) 5769.00 5868 5868 5868 5868 5871
GDP per capita PPP (USD) 16011.00 17101 17101 17101 17101 17101
Gross National Product (AZN Million) 75956.30 69125 69125 69260 69328 71269
GDP From Agriculture (AZN Million) 509.20 180 522 523 523 538
GDP From Construction (AZN Million) 499.90 297 512 513 514 528
GDP From Manufacturing (AZN Million) 328.80 305 337 338 338 347
GDP From Mining (AZN Million ) 2425.00 2542 2486 2490 2493 2563
GDP From Public Administration (AZN Million) 124.10 103 127 127 128 131
GDP From Services (AZN Million ) 648.40 543 665 666 667 685
GDP From Transport (AZN Million) 893.00 768 915 917 918 944
GDP From Utilities (AZN Million) 31.60 32.6 32.39 32.45 32.48 33.39
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 5.20 4.9 4.9 4.9 4.9 4.9
Employed Persons (Thousand ) 4879.30 5008 5008 5008 5008 5008
Unemployed Persons (Thousand ) 253.80 245 245 245 245 245
Minimum Wages (AZN/Month) 143.00 151 151 151 151 159
Population (Million) 9.90 10.1 10.1 10.1 10.1 10.2
Living Wage Family (AZN/Month) 940.00 772 772 772 775 795
Living Wage Individual (AZN/Month) 865.00 482 482 482 485 485
Wages (AZN/Month) 623.10 560 560 560 570 570
Wages High Skilled (AZN/Month) 666.00 670 670 670 680 720
Wages In Manufacturing (AZN/Month) 554.10 590 590 590 620 620
Wages Low Skilled (AZN/Month) 341.00 415 415 415 440 450
Retirement Age Men 63.50 64.5 64.5 64.5 64.5 65
Retirement Age Women 60.50 61.5 61.5 61.5 61.5 62
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 2.60 2.5 2.4 2.3 2.4 4
Inflation Rate Mom (%) 0.50 0.5 -0.3 -0.3 0.7 0.6
Food Inflation (%) 3.80 4 3.5 3 3.5 3.5
Export Prices (points) 127.10 105 105 105 105 105
Consumer Price Index Cpi (points) 162.98 160 160 164 166 173
Import Prices (points) 123.40 102 102 102 102 102
Producer Prices (points) 104.30 117 117 117 120 138
Producer Prices Change (%) 3.10 9 12 12 15 15
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 7.50 7.5 7.75 7.75 8 8.5
Money Supply M2 (AZN Million) 16663.40 14190 14190 14190 14500 14500
Deposit Interest Rate (%) 10.28 6.43 10.28 10.53 6.43 8.43
Foreign Exchange Reserves (USD Million) 6034.10 6650 6950 7050 7350 8150
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Thousand) 2008164.70 2419000 2419000 2419000 2108900 2108900
Current Account (USD Million) 941.00 1315 1315 1315 1400 1400
Current Account to GDP (%) 7.90 10 10 10 10 7.5
Imports (USD Thousand) 3077246.60 2380000 2380000 2380000 2791100 2791100
Exports (USD Thousand) 5085411.30 4799000 4799000 4799000 4900000 4900000
Crude Oil Production (BBL/D/1K) 763.00 725 790 800 800 850
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Foreign Direct Investment (USD Million) 915.00 830 830 830 815 815
Tourist Arrivals 12777.00 19000 19000 19000 19000 19000
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 48.40 50.1 50.1 50.1 50.1 53.4
Government Budget (% of GDP) -0.40 3 3 3 3 2.5
Military Expenditure (USD Million) 1624.00 1490 1490 1490 1490 1490
Government Spending (AZN Million) 2265.80 1749 2322 2327 2329 2394
Government Spending To GDP (% of GDP) 28.50 26.1 26.1 26.1 26.1 24
Government Budget Value (AZN Million) 205.20 -280 -280 -280 -590 -590
Taxes Actual Q1 Q2 Q3 Q4 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 Q1 Q2 Q3 Q4 2020
Industrial Production (%) 1.80 1.8 1.8 1.8 1.8 1.8
Manufacturing Production (%) -2.00 4.8 4.8 4.8 4.8 4.8
Leading Economic Index (%) 2.10 2.4 2.3 2.7 3.1 3.1
Mining Production (%) -0.10 6 6 6 5.8 5.8
Car Registrations 1170672.00 1170000 1170000 1170000 1170000 1170000
Changes In Inventories (AZN Million) -126.80 36.6 36.6 36.6 22.9 22.9
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales YoY (%) 3.00 5.8 5.8 5.8 5.5 5.5
Gasoline Prices (USD/Liter) 0.53 0.58 0.6 0.61 0.63 0.63
Disposable Personal Income (AZN Million) 53688.60 55031 55031 55138 55192 56737
Consumer Spending (AZN Million) 11296.40 11125 11579 11601 11613 11938


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.