Markets Actual Q1 Q2 Q3 Q4 2022
Currency 1.69 1.7 1.7 1.7 1.7 1.7

Overview Actual Q1 Q2 Q3 Q4 2022
GDP Annual Growth Rate (%) -12.35 -4.5 2.8 2.8 3.2 1.6
Unemployment Rate (%) 4.80 6.1 6.1 6.1 6.1 5.7
Inflation Rate (%) 2.80 2.8 2.6 2.3 3 3
Interest Rate (%) 6.25 6.25 6.25 6.25 6.25 6.5
Balance of Trade (USD Thousand) 56543.50 2108900 2108900 2108900 2108900 2108900
Current Account (USD Million) -806.00 1400 1400 1400 1400 1400
Current Account to GDP (%) 9.10 -4 -4 -4 -4 6.6
Government Debt to GDP (%) 48.40 50.1 50.1 50.1 53.4 53.4
Government Budget (% of GDP) -0.30 -9.5 -9.5 -9.5 -9.5 -3.5
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 2022
GDP Annual Growth Rate (%) -12.35 -4.5 2.8 2.8 3.2 1.6
GDP (USD Billion) 48.05 50 50 50 50 51
GDP Constant Prices (AZN Million) 72432.20 78005 17497 34750 86605 80502
Gross Fixed Capital Formation (AZN Million) 4974.00 5481 2840 3057 3629 5656
GDP per capita (USD) 5880.00 5850 5850 5850 5850 5890
GDP per capita PPP (USD) 14403.90 14300 14300 14300 14300 14650
Gross National Product (AZN Million) 75956.30 72538 72538 78083 73193 74859
GDP From Agriculture (AZN Million) 711.40 374 174 187 751 386
GDP From Construction (AZN Million) 762.60 798 239 257 850 823
GDP From Manufacturing (AZN Million) 378.90 378 340 366 353 390
GDP From Mining (AZN Million ) 3159.00 3775 2294 2469 3808 3896
GDP From Public Administration (AZN Million) 184.00 154 150 162 213 159
GDP From Services (AZN Million ) 613.90 725 516 556 652 749
GDP From Transport (AZN Million) 1035.90 998 773 832 1072 1030
GDP From Utilities (AZN Million) 30.40 41.83 35.14 37.83 32.67 43.17

Labour Actual Q1 Q2 Q3 Q4 2022
Unemployment Rate (%) 4.80 6.1 6.1 6.1 6.1 5.7
Employed Persons (Thousand ) 4938.50 5008 5008 5008 5008 5008
Unemployed Persons (Thousand ) 251.60 255 245 245 245 245
Minimum Wages (AZN/Month) 250.00 290 290 290 290 340
Population (Million) 10.00 10.2 10.2 10.2 10.2 10.3
Retirement Age Men 65.00 64.5 64.5 64.5 65 65
Retirement Age Women 62.00 61.5 61.5 61.5 62 62
Wages (AZN/Month) 703.50 570 570 570 570 570
Wages In Manufacturing (AZN/Month) 631.40 620 620 620 620 620

Prices Actual Q1 Q2 Q3 Q4 2022
Inflation Rate (%) 2.80 2.8 2.6 2.3 3 3
Inflation Rate Mom (%) 0.80 0.3 0.5 0.5 0.6 0.6
Import Prices (points) 123.40 102 102 102 102 102
Food Inflation (%) 5.00 3.5 3.5 3.5 3.5 3.5
Export Prices (points) 127.10 105 105 105 105 105
Consumer Price Index CPI (points) 165.25 167 171 170 171 172
Producer Prices (points) 0.80 139 114 70.2 160 160
Producer Prices Change (%) -29.10 8 8 8 15 15

Money Actual Q1 Q2 Q3 Q4 2022
Interest Rate (%) 6.25 6.25 6.25 6.25 6.25 6.5
Money Supply M2 (AZN Million) 18613.80 14500 14500 14500 14500 14500
Deposit Interest Rate (%) 9.69 9.69 9.69 9.69 8.43 9.69
Foreign Exchange Reserves (USD Million) 6491.40 7350 7350 7350 8150 8150

Trade Actual Q1 Q2 Q3 Q4 2022
Balance of Trade (USD Thousand) 56543.50 2108900 2108900 2108900 2108900 2108900
Current Account (USD Million) -806.00 1400 1400 1400 1400 1400
Current Account to GDP (%) 9.10 -4 -4 -4 -4 6.6
Imports (USD Thousand) 2629910.60 2791100 2791100 2791100 2791100 2791100
Exports (USD Thousand) 2686454.10 4900000 4900000 4900000 4900000 4900000
Crude Oil Production (BBL/D/1K) 653.00 800 800 800 850 850
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Foreign Direct Investment (USD Million) 1284.00 815 815 815 815 815
Tourist Arrivals 30950.00 9000 9000 9000 9000 12000

Government Actual Q1 Q2 Q3 Q4 2022
Government Debt to GDP (%) 48.40 50.1 50.1 50.1 53.4 53.4
Government Budget (% of GDP) -0.30 -9.5 -9.5 -9.5 -9.5 -3.5
Military Expenditure (USD Million) 1624.00 1490 1490 1490 1490 1490
Government Budget Value (AZN Million) 1744.00 -590 -590 -590 -590 -590
Government Spending (AZN Million) 2749.00 2439 1815 1954 2379 2518
Government Spending To GDP (% of GDP) 29.90 26.1 26.1 26.1 24 24

Taxes Actual Q1 Q2 Q3 Q4 2022
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 2022
Industrial Production (%) -4.70 1.8 1.8 1.8 1.8 1.8
Manufacturing Production (%) 16.20 4.8 4.8 4.8 4.8 4.8
Leading Economic Index (%) -4.30 1.5 3.5 4.5 3 3
Car Registrations 1214093.00 1170000 1170000 1170000 1170000 1170000
Changes In Inventories (AZN Million) 529.60 22.9 22.9 22.9 22.9 22.9
Mining Production (%) -6.60 2.5 2.5 2.5 2.5 3.5

Consumer Actual Q1 Q2 Q3 Q4 2022
Retail Sales YoY (%) -1.40 5.5 5.5 5.5 5.5 5.5
Gasoline Prices (USD/Liter) 0.53 0.48 0.48 0.46 0.45 0.45
Disposable Personal Income (AZN Million) 57035.00 51273 51273 55192 48821 52913
Consumer Spending (AZN Million) 11018.60 11674 10722 11541 11864 12048


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.