Markets Actual Q2 Q3 Q4 Q1 2021
Currency 1.69 1.69 1.69 1.69 1.69 1.69

Overview Actual Q2 Q3 Q4 Q1 2021
GDP Annual Growth Rate (%) 2.20 2.5 2.7 2.8 2.8 2.8
Unemployment Rate (%) 4.80 5.9 5.9 5.9 6.1 6.1
Inflation Rate (%) 3.00 2.4 2.3 2.4 2.4 4
Interest Rate (%) 7.25 7.25 6.75 6.25 6 6
Balance of Trade (USD Thousand) 1636262.10 2419000 2419000 2108900 2108900 2108900
Current Account (USD Million) 362.00 1315 1315 1400 1400 1400
Current Account to GDP (%) 7.90 10 10 10 7.5 7.5
Government Debt to GDP (%) 48.40 50.1 50.1 50.1 50.1 53.4
Government Budget (% of GDP) -0.40 -12.5 -12.5 -12.5 -9.5 -9.5
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 2021
GDP Annual Growth Rate (%) 2.20 2.5 2.7 2.8 2.8 2.8
GDP (USD Billion) 57.00 49 49 49 50 50
GDP Constant Prices (AZN Million) 22400.50 38771 60043 83968 12930 86319
Gross Fixed Capital Formation (AZN Million) 5739.30 3977 4970 4975 4975 5114
GDP per capita (USD) 5769.00 5868 5868 5868 5871 5871
GDP per capita PPP (USD) 16011.00 17052 17101 17101 17052 17608
Gross National Product (AZN Million) 75956.30 77855 78007 78083 78083 80269
GDP From Agriculture (AZN Million) 391.70 479 762 763 763 785
GDP From Construction (AZN Million) 835.40 536 771 772 772 794
GDP From Manufacturing (AZN Million) 395.70 339 377 378 378 388
GDP From Mining (AZN Million ) 3953.10 2486 2490 2493 2493 2563
GDP From Public Administration (AZN Million) 161.40 130 202 202 202 208
GDP From Services (AZN Million ) 759.50 665 635 635 635 653
GDP From Transport (AZN Million) 1045.40 946 1095 1096 1096 1127
GDP From Utilities (AZN Million) 43.80 32.39 31.43 31.46 31.46 32.34

Labour Actual Q2 Q3 Q4 Q1 2021
Unemployment Rate (%) 4.80 5.9 5.9 5.9 6.1 6.1
Employed Persons (Thousand ) 4938.50 5008 5008 5008 5008 5008
Unemployed Persons (Thousand ) 251.60 255 255 255 255 245
Minimum Wages (AZN/Month) 250.00 250 250 250 290 290
Population (Million) 10.00 10.1 10.1 10.1 10.2 10.2
Living Wage Family (AZN/Month) 940.00 772 772 775 775 795
Living Wage Individual (AZN/Month) 865.00 482 482 485 485 485
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
Wages (AZN/Month) 744.50 560 560 570 570 570
Wages High Skilled (AZN/Month) 666.00 670 670 680 680 720
Wages In Manufacturing (AZN/Month) 631.40 590 590 620 620 620

Prices Actual Q2 Q3 Q4 Q1 2021
Inflation Rate (%) 3.00 2.4 2.3 2.4 2.4 4
Inflation Rate Mom (%) 0.10 -0.3 -0.3 0.7 0.7 0.6
Import Prices (points) 123.40 102 102 102 102 102
Food Inflation (%) 5.40 3.5 3 3.5 3.5 3.5
Export Prices (points) 127.10 105 105 105 105 105
Consumer Price Index Cpi (points) 165.11 160 164 167 169 174
Producer Prices (points) 65.00 94.32 98.56 114 74.75 131
Producer Prices Change (%) -13.20 -10 -5.5 8 15 15

Money Actual Q2 Q3 Q4 Q1 2021
Interest Rate (%) 7.25 7.25 6.75 6.25 6 6
Money Supply M2 (AZN Million) 16484.20 14190 14190 14500 14500 14500
Deposit Interest Rate (%) 10.28 10.28 10.28 10.28 10.03 10.03
Foreign Exchange Reserves (USD Million) 6393.80 6950 7050 7350 7350 8150

Trade Actual Q2 Q3 Q4 Q1 2021
Balance of Trade (USD Thousand) 1636262.10 2419000 2419000 2108900 2108900 2108900
Current Account (USD Million) 362.00 1315 1315 1400 1400 1400
Current Account to GDP (%) 7.90 10 10 10 7.5 7.5
Imports (USD Thousand) 3212064.50 2380000 2380000 2791100 2791100 2791100
Exports (USD Thousand) 4848326.50 4799000 4799000 4900000 4900000 4900000
Crude Oil Production (BBL/D/1K) 758.00 790 800 800 800 850
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Foreign Direct Investment (USD Million) 915.00 830 830 815 815 815
Tourist Arrivals 12777.00 19000 19000 19000 19000 19000

Government Actual Q2 Q3 Q4 Q1 2021
Government Debt to GDP (%) 48.40 50.1 50.1 50.1 50.1 53.4
Government Budget (% of GDP) -0.40 -12.5 -12.5 -12.5 -9.5 -9.5
Military Expenditure (USD Million) 1624.00 1490 1490 1490 1490 1490
Government Budget Value (AZN Million) 2306.50 -280 -280 -590 -590 -590
Government Spending (AZN Million) 2554.40 2100 2313 2315 2315 2380
Government Spending To GDP (% of GDP) 28.50 26.1 26.1 26.1 26.1 24

Taxes Actual Q2 Q3 Q4 Q1 2021
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 2021
Industrial Production (%) 1.80 1.8 1.8 1.8 1.8 1.8
Manufacturing Production (%) 8.00 4.8 4.8 4.8 4.8 4.8
Leading Economic Index (%) 0.20 1.5 2.7 3.1 3.1 3.1
Car Registrations 1170672.00 1170000 1170000 1170000 1170000 1170000
Changes In Inventories (AZN Million) 803.00 36.6 36.6 22.9 22.9 22.9
Mining Production (%) -1.80 -3.5 -0.5 1.5 2.5 2.5

Consumer Actual Q2 Q3 Q4 Q1 2021
Retail Sales YoY (%) 3.00 5.8 5.8 5.5 5.5 5.5
Gasoline Prices (USD/Liter) 0.53 0.5 0.48 0.46 0.43 0.41
Disposable Personal Income (AZN Million) 53688.60 55031 55138 55192 55192 56737
Consumer Spending (AZN Million) 12224.60 12134 12610 12622 12622 12976


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.