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

Overview Actual Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) 35.51 2.8 3.2 3.2 3.2 1.6
Unemployment Rate (%) 6.27 6.1 6.1 5.7 5.7 5.7
Inflation Rate (%) 4.80 3.3 3 3.2 2.5 3.6
Interest Rate (%) 6.50 6.25 6.25 6.5 6.5 6.75
Balance of Trade (USD Thousand) 1548839.00 2108900 2108900 2108900 2108900 2108900
Current Account (USD Million) 628.00 1400 1400 1400 1400 1400
Current Account to GDP (% of GDP) -0.50 -4 -4 -4 -4 6.6
Government Debt to GDP (% of GDP) 20.10 50.1 53.4 53.4 53.4 53.4
Government Budget (% of GDP) -2.40 -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 Q3 Q4 Q1 Q2 2022
GDP Annual Growth Rate (%) 35.51 2.8 3.2 3.2 3.2 1.6
GDP (USD Billion) 42.61 50 50 50 50 51
GDP Constant Prices (AZN Million) 47262.30 53532 74750 19527 41192 75946
Gross Fixed Capital Formation (AZN Million) 2638.20 5113 3629 2723 2723 7131
GDP per capita (USD) 5593.22 5850 5850 5850 5850 5890
GDP per capita PPP (USD) 13699.67 14300 14300 14300 14300 14650
Gross National Product (AZN Million) 78178.20 72538 73193 73193 73193 74859
GDP From Agriculture (AZN Million) 185.70 739 751 192 192 430
GDP From Construction (AZN Million) 242.70 784 850 250 250 895
GDP From Manufacturing (AZN Million) 360.30 390 353 372 372 499
GDP From Mining (AZN Million ) 2246.70 3247 3808 2319 2319 3772
GDP From Public Administration (AZN Million) 171.10 189 213 177 177 172
GDP From Services (AZN Million ) 534.80 631 652 552 552 792
GDP From Transport (AZN Million) 859.00 1065 1072 886 886 1122
GDP From Utilities (AZN Million) 36.40 31.25 32.67 37.56 37.56 39.74

Labour Actual Q3 Q4 Q1 Q2 2022
Unemployment Rate (%) 6.27 6.1 6.1 5.7 5.7 5.7
Employed Persons (Thousand ) 4938.50 5008 5008 5008 5008 5008
Unemployed Persons (Thousand ) 251.60 245 245 245 245 245
Minimum Wages (AZN/Month) 250.00 290 290 290 290 340
Population (Million) 10.07 10.2 10.2 10.2 10.2 10.3
Retirement Age Men 65.00 64.5 65 65 65 65
Retirement Age Women 62.00 61.5 62 62 62 62
Wages (AZN/Month) 724.20 570 570 570 570 570
Wages In Manufacturing (AZN/Month) 632.30 620 620 620 620 620

Prices Actual Q3 Q4 Q1 Q2 2022
Inflation Rate (%) 4.80 3.3 3 3.2 2.5 3.6
Import Prices (points) 127.90 102 102 102 102 102
Food Inflation (%) 5.40 2.5 2.5 3.8 3.8 3.5
Export Prices (points) 127.10 105 105 105 105 105
Consumer Price Index CPI (points) 170.30 166 168 179 173 174
Producer Prices (points) 3.10 -7.13 14.58 4.86 5.98 16.77
Producer Prices Change (%) 54.10 8 8 8 15 15
Inflation Rate Mom (%) 0.50 0.5 0.3 0.2 0.4 0.6

Money Actual Q3 Q4 Q1 Q2 2022
Interest Rate (%) 6.50 6.25 6.25 6.5 6.5 6.75
Money Supply M2 (AZN Million) 21840.90 14500 14500 14500 14500 14500
Deposit Interest Rate (%) 8.69 8.69 8.43 8.94 8.94 8.94
Foreign Exchange Reserves (USD Million) 6455.30 7350 8150 8150 8150 8150

Trade Actual Q3 Q4 Q1 Q2 2022
Balance of Trade (USD Thousand) 1548839.00 2108900 2108900 2108900 2108900 2108900
Current Account (USD Million) 628.00 1400 1400 1400 1400 1400
Current Account to GDP (% of GDP) -0.50 -4 -4 -4 -4 6.6
Imports (USD Thousand) 2291785.00 2791100 2791100 2791100 2791100 2791100
Exports (USD Thousand) 3840624.00 4900000 4900000 4900000 4900000 4900000
Crude Oil Production (BBL/D/1K) 669.90 800 850 850 850 850
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Foreign Direct Investment (USD Million) 1400.00 815 815 815 815 815
Tourist Arrivals 30950.00 9000 9000 9000 9000 12000

Government Actual Q3 Q4 Q1 Q2 2022
Government Debt to GDP (% of GDP) 20.10 50.1 53.4 53.4 53.4 53.4
Government Budget (% of GDP) -2.40 -9.5 -9.5 -9.5 -9.5 -3.5
Government Spending (AZN Million) 2886.80 2826 2379 2979 2979 3619
Government Spending To GDP (% of GDP) 36.50 26.1 24 24 24 24
Government Budget Value (AZN Million) 367.70 -590 -590 -590 -590 -590
Military Expenditure (USD Million) 2173.00 1490 1490 1490 1490 1490

Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2022
Industrial Production (%) -3.60 1.8 1.8 1.8 1.8 1.8
Manufacturing Production (%) 11.60 4.8 4.8 4.8 4.8 4.8
Leading Economic Index (%) 3.60 4.5 3 2.5 2 3
Car Registrations 1214093.00 1170000 1170000 1170000 1170000 1170000
Changes In Inventories (AZN Million) 856.40 22.9 22.9 22.9 22.9 22.9
Mining Production (%) -5.50 2.5 2.5 2.5 2.5 3.5

Consumer Actual Q3 Q4 Q1 Q2 2022
Retail Sales YoY (%) 1.70 5.5 5.5 5.5 5.5 5.5
Disposable Personal Income (AZN Million) 57035.00 51273 48821 48821 48821 52913
Gasoline Prices (USD/Liter) 0.59 0.56 0.53 0.51 0.48 0.46
Consumer Spending (AZN Million) 11221.80 11327 11864 11581 11581 11527


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.