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 (%) 1.30 2.8 3.2 3.5 3.1 2.6
Unemployment Rate (%) 5.00 5 5 5 5 4.5
Inflation Rate (%) 2.30 3.8 3.1 2.5 3.3 3
Interest Rate (%) 9.75 9 8 7.5 7 7
Balance of Trade (USD Thousand) 2316121.00 2137000 2172500 2407500 2419000 2108900
Current Account (USD Million) 1565.00 1315 1309 1300 1315 1400
Current Account to GDP (%) 5.60 8.2 8.2 8.2 8.2 8.7
Government Debt to GDP (%) 46.40 47.5 47.5 47.5 47.5 39.9
Government Budget (% of GDP) -1.60 -1 -1 -1 -1 -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 Q1 Q2 Q3 Q4 2020
GDP Annual Growth Rate (%) 1.30 2.8 3.2 3.5 3.1 2.6
GDP (USD Billion) 40.75 57 57 57 57 65
GDP Constant Prices (AZN Million) 72432.10 17666 38193 59784 74677 76619
Gross Fixed Capital Formation (AZN Million) 2706.10 2366 2793 2801 2790 2863
GDP per capita (USD) 5805.10 6138 6138 6138 6138 6159
GDP per capita PPP (USD) 15847.40 16150 16150 16150 16150 17101
Gross National Product (AZN Million) 67439.50 69328 69598 69800 69530 71338
GDP From Agriculture (AZN Million) 449.50 173 464 465 463 475
GDP From Construction (AZN Million) 549.70 340 567 569 567 581
GDP From Manufacturing (AZN Million) 303.60 261 313 314 313 321
GDP From Mining (AZN Million ) 2450.10 2472 2529 2536 2526 2592
GDP From Public Administration (AZN Million) 137.20 112 142 142 141 145
GDP From Services (AZN Million ) 629.40 527 650 651 649 666
GDP From Transport (AZN Million) 831.30 755 858 860 857 879
GDP From Utilities (AZN Million) 29.90 29.3 30.86 30.95 30.83 31.63
Labour Actual Q1 Q2 Q3 Q4 2020
Unemployment Rate (%) 5.00 5 5 5 5 4.5
Employed Persons (Thousand ) 4822.10 4946 4946 4946 4946 5008
Unemployed Persons (Thousand ) 251.70 249 249 249 249 245
Minimum Wages (AZN/Month) 143.00 145 145 145 145 150
Population (Million) 9.80 10 10 10 10 10.1
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) 540.00 553 555 557 560 570
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 63.5 63.5 63.5 63.5 63.5
Retirement Age Women 60.50 60.5 60.5 60.5 60.5 61
Prices Actual Q1 Q2 Q3 Q4 2020
Inflation Rate (%) 2.30 3.8 3.1 2.5 3.3 3
Inflation Rate Mom (%) 0.80 0.6 0.4 0.7 0.9 1
Food Inflation (%) 1.70 3.9 4.3 4.7 5 4.5
Export Prices (Index Points) 127.10 91 91 91 91 105
GDP Deflator (Index Points) 114.90 123 125 122 118 116
Consumer Price Index Cpi (Index Points) 156.21 159 157 159 161 165
Import Prices (Index Points) 123.40 103 104 103 104 102
Producer Prices (Index Points) 103.90 134 133 136 134 154
Producer Prices Change (%) 30.60 33 35 31 29 15
Money Actual Q1 Q2 Q3 Q4 2020
Interest Rate (%) 9.75 9 8 7.5 7 7
Money Supply M0 (AZN Million) 7309.10 7520 7600 7660 7700 7860
Money Supply M2 (AZN Million) 14130.00 13900 14000 14150 14190 14500
Deposit Interest Rate (%) 8.43 7.68 6.68 6.18 5.68 5.68
Money Supply M1 (AZN Million) 11108.10 10850 10920 10980 11050 11100
Foreign Exchange Reserves (USD Million) 5534.50 5600 5610 5630 5650 5750
Money Supply M3 (AZN Million) 23146.40 22800 22820 22855 22864 22950
Trade Actual Q1 Q2 Q3 Q4 2020
Balance of Trade (USD Thousand) 2316121.00 2137000 2172500 2407500 2419000 2108900
Current Account (USD Million) 1565.00 1315 1309 1300 1315 1400
Current Account to GDP (%) 5.60 8.2 8.2 8.2 8.2 8.7
Imports (USD Thousand) 2994870.00 2423000 2497500 2319500 2380000 2791100
Exports (USD Thousand) 5310991.00 4560000 4670000 4727000 4799000 4900000
Capital Flows (USD Million) 675.00 250 280 310 290 350
Crude Oil Production (BBL/D/1K) 797.00 795 801 803 805 803
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Foreign Direct Investment (USD Million) 1036.00 895 870 845 830 815
Tourist Arrivals 13455.00 17500 17500 17500 17500 19000
Remittances (USD Million) 184.00 140 137 132 128 160
Government Actual Q1 Q2 Q3 Q4 2020
Government Debt to GDP (%) 46.40 47.5 47.5 47.5 47.5 39.9
Government Budget (% of GDP) -1.60 -1 -1 -1 -1 -0.8
Government Revenues (AZN Million) 20144.70 5000 10000 13170 17420 17510
Fiscal Expenditure (AZN Million) 19670.10 4600 9700 13500 17700 18100
Military Expenditure (USD Million) 1478.58 1515 1515 1515 1515 1490
Government Spending (AZN Million) 2192.30 1760 2262 2269 2260 2319
Government Spending To GDP (% of GDP) 25.10 23.5 23.5 23.5 23.5 22.2
Government Budget Value (AZN Million) 474.60 400 300 -330 -280 -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 (%) 1.50 -0.8 -0.8 -0.8 -0.8 1.8
Manufacturing Production (%) -2.00 5.3 5.3 5.3 5.3 4.8
Leading Economic Index (%) 1.00 1.8 1.8 1.9 2 3.1
Mining Production (%) 5.16 6.8 6.5 6.2 6 5.8
Car Registrations 1147437.00 1154000 1157000 1159000 1160000 1170000
Changes In Inventories (AZN Million) 93.80 35.1 38.2 41.1 36.6 22.9
Consumer Actual Q1 Q2 Q3 Q4 2020
Retail Sales YoY (%) 2.50 5.8 5.8 5.8 5.8 5.5
Gasoline Prices (USD/Liter) 0.53 0.5 0.49 0.48 0.46 0.46
Disposable Personal Income (AZN Million) 44983.30 44200 44200 44200 44200 45000
Consumer Spending (AZN Million) 10931.40 10884 11281 11314 11270 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.