Azerbaijan

Description of Azerbaijan

Azerbaijan, a country situated at the crossroads of Eastern Europe and Western Asia, boasts a rich cultural heritage and a strategic geopolitical position. With a diverse landscape that includes the Caspian Sea coast, the Caucasus Mountains, and vast plains, Azerbaijan is not only known for its natural beauty but also for its significant oil and gas reserves. As a former Soviet republic, Azerbaijan has undergone a transformation in recent years, experiencing rapid economic growth and modernization. This website aims to delve into the macroeconomic factors shaping Azerbaijan's development, analyzing how trends in key statistics impact the country's trajectory on the global stage.

Population And Age Structure

Population, total: Azerbaijan's total population is 10,093,121, which is below the average population of 40,097,746. Azerbaijan ranks 91st out of 194 countries in terms of total population.

Population ages 0-14 (% of total population): Azerbaijan's population aged 0-14 accounts for 24.22% of the total population, lower than the average of 27.34%. Azerbaijan ranks 105th out of 194 countries in this age group.

Population ages 0-14, total: Azerbaijan has a total of 2,444,968 individuals aged 0-14, significantly below the average of 10,327,380. Azerbaijan ranks 91st out of 194 countries in this category.

Population ages 15-64 (% of total population): Azerbaijan's population aged 15-64 makes up 69.30% of the total population, higher than the average of 63.44%. Azerbaijan ranks 30th out of 194 countries in this age group.

Population ages 15-64, total: Azerbaijan has a total of 6,994,975 individuals aged 15-64, below the average of 26,003,407. Azerbaijan ranks 83rd out of 194 countries in this demographic.

Population ages 65 and above (% of total population): Individuals aged 65 and above constitute 6.47% of Azerbaijan's population, lower than the average of 9.22%. Azerbaijan ranks 98th out of 194 countries in this age category.

Population ages 65 and above, total: Azerbaijan's population aged 65 and above is 653,178, well below the average of 3,766,959. Azerbaijan ranks 87th out of 194 countries in this age group.

Summary

Azerbaijan has a relatively small total population compared to the global average, with a significant proportion of individuals in the working-age bracket (15-64 years) and a lower percentage of children (0-14 years) and elderly citizens (65 and above). This demographic distribution indicates a potential demographic dividend with a large workforce supporting a smaller dependent population, which could be beneficial for economic development initiatives such as productivity growth, innovation, and investment in human capital.

Population Miscellaneous

Analysis of key demographic statistics for Azerbaijan:

Summary

Azerbaijan exhibits a demographic profile with a lower rural population and urban population compared to global averages. The country also has a relatively low age dependency ratio and fertility rate, coupled with lower crude birth and death rates. These indicators are crucial as they provide insights into the country's population distribution, workforce dynamics, healthcare needs, and demographic trends which are vital for policymakers in planning future development strategies and social welfare programs.

Military

1. Military expenditure (current USD): Azerbaijan's military expenditure is $2,237,764,705.88 which is below the average of $12,904,993,617.17. Azerbaijan ranks 57th out of 149 countries in this attribute.

2. Military expenditure (% of GDP): Azerbaijan's military expenditure is 5.39% of GDP, significantly higher than the average of 1.90%. Azerbaijan ranks 5th out of 148 countries in this attribute.

3. Arms imports (SIPRI trend indicator values): Azerbaijan's arms imports amount to $37,000,000, which is below the average of $205,522,123.89. Azerbaijan ranks 62nd out of 113 countries in this attribute.

4. Armed forces personnel, total: Azerbaijan has 82,000 total armed forces personnel, below the average of 165,908.54. Azerbaijan ranks 55th out of 164 countries in this attribute.

5. Armed forces personnel (% of total labor force): Azerbaijan's armed forces personnel account for 1.59% of the total labor force, higher than the average of 1.28%. Azerbaijan ranks 38th out of 164 countries in this attribute.

Summary

Azerbaijan displays a noteworthy pattern in its military indicators compared to global averages and rankings. The country has lower military expenditure in current USD than the average but a significantly higher percentage of GDP spent on the military. Additionally, Azerbaijan has a smaller number of armed forces personnel compared to the average, but a higher proportion relative to its total labor force. These indicators suggest that Azerbaijan prioritizes a relatively higher portion of its economic resources towards its military capabilities, potentially emphasizing security and defense strategies over other areas of development.

Natural Resources

Forest area in Azerbaijan is 11,317.7 sq. km, which is significantly below the average of 211,606.1 sq. km, ranking 120 out of 191 countries.

Land area in Azerbaijan is 82,646 sq. km, lower than the average of 665,166.5 sq. km, placing it at rank 112 out of 194 countries.

Surface area in Azerbaijan is 86,600 sq. km, below the average of 689,779.6 sq. km, with a rank of 114 out of 194 countries.

Azerbaijan's arable land is 2,084,300 hectares, significantly below the average of 7,329,543.2 hectares, ranking 82 out of 190 countries.

Land under cereal production in Azerbaijan is 976,402 hectares, lower than the average of 4,206,011.6 hectares, with a rank of 80 out of 174 countries.

The average precipitation in depth in Azerbaijan is 447 mm per year, below the average of 1,157.8 mm per year, ranking 145 out of 178 countries.

Azerbaijan's renewable internal freshwater resources total 8.115 billion cubic meters, far below the average of 240.41 billion cubic meters, with a rank of 130 out of 178 countries.

Summary

Azerbaijan's key macroeconomic indicators show significant disparities compared to global averages, with lower forest, land, and surface areas, arable land, land under cereal production, average precipitation, and renewable freshwater resources. These statistics are crucial as they highlight the country's limited natural resources and agricultural potential, which could impact its environmental sustainability, food security, and economic development strategies.

Resource Rents

Total natural resources rents (% of GDP): Azerbaijan's value of 13.00% is significantly higher than the average of 4.63%. This places Azerbaijan at rank 22 out of 175 countries.

Forest rents (% of GDP): With a value of 0.02%, Azerbaijan's forest rents are below the average of 1.53%. This puts Azerbaijan at rank 140 out of 174 countries.

Oil rents (% of GDP): Azerbaijan's value of 11.15% for oil rents is much higher than the average of 2.51%. This ranks Azerbaijan at 8 out of 117 countries.

Natural gas rents (% of GDP): Azerbaijan's natural gas rents at 1.59% are above the average of 1.25%. The country ranks 18 out of 96 countries in this aspect.

Mineral rents (% of GDP): Azerbaijan's mineral rents account for 0.24% of GDP, which is lower than the average of 1.23%. This places Azerbaijan at rank 44 out of 86 countries.

Summary

In summary, Azerbaijan stands out with significantly higher total natural resources rents and oil rents compared to global averages, ranking 22nd and 8th respectively. However, the country falls behind in forest rents, mineral rents, and to some extent in natural gas rents, ranking lower in these indicators compared to the world averages.

These findings are crucial as they highlight Azerbaijan's heavy reliance on oil resources for its economy, which can pose risks in terms of economic diversification and sustainability. Diversifying revenue sources beyond oil and addressing the lower performance in other resource sectors could help strengthen Azerbaijan's economy in the long run.

Commodities

Azerbaijan's cereal production is 3,151,182 metric tons, significantly below the average of 17,249,945. Azerbaijan ranks 77 out of 174 countries in this category.

The aquaculture production in Azerbaijan is 533 metric tons, well below the average of 679,642. Azerbaijan is ranked 137 out of 180 countries in this aspect.

Azerbaijan's capture fisheries production is 2,089 metric tons, much lower than the average of 467,453. Azerbaijan is ranked 158 out of 190 countries in this metric.

In terms of total fisheries production, Azerbaijan produces 2,622 metric tons, significantly lower than the average of 1,153,914. Azerbaijan ranks 166 out of 182 countries in total fisheries production.

Azerbaijan's fertilizer consumption, at 105.83 kilograms per hectare of arable land, is below the average of 159.04. Azerbaijan is ranked 84 out of 187 countries in fertilizer consumption.

Summary

Azerbaijan's agricultural sector faces challenges as evidenced by its below-average production levels in cereals, aquaculture, capture fisheries, and total fisheries. Additionally, the country's fertilizer consumption per hectare of arable land is also lower than the global average. These indicators highlight the need for increased investment and innovation in Azerbaijan's agricultural industry to improve productivity and ensure food security for its population.

Intellectual Property

Analysis of key statistics for Azerbaijan:

Industrial design applications by nonresidents: Azerbaijan's value is 551, below the average of 1415.83. It ranks 40th out of 112 countries.

Industrial design applications by residents: Azerbaijan's value is 32, significantly below the average of 9799.58. It ranks 87th out of 113 countries.

Patent applications by nonresidents: Azerbaijan's value is 18, well below the average of 6538.40. It ranks 89th out of 129 countries.

Patent applications by residents: Azerbaijan's value is 90, much lower than the average of 19037.56. It ranks 68th out of 117 countries.

Trademark applications by nonresidents: Azerbaijan's value is 8348, below the average of 15878.93. It ranks 45th out of 130 countries.

Trademark applications by residents: Azerbaijan's value is 3967, significantly lower than the average of 111055.78. It ranks 68th out of 129 countries.

Scientific and technical journal articles: Azerbaijan's value is 993.56, well below the average of 15103.76. It ranks 82nd out of 192 countries.

Charges for the use of intellectual property - payments: Azerbaijan's value is 94,135,897.56, much below the average of 3,218,843,494.39. It ranks 72nd out of 143 countries.

Charges for the use of intellectual property - receipts: Azerbaijan's value is 5,402,440.86, significantly below the average of 3,191,687,117.58. It ranks 74th out of 122 countries.

Researchers in R&D per million people: Azerbaijan's value is 1712.17, below the average of 2556.45. It ranks 39th out of 72 countries.

Summary

Azerbaijan ranks lower than the global averages in various key macroeconomic indicators related to innovation and intellectual property, such as industrial design, patent and trademark applications, scientific articles, and charges for intellectual property use. This indicates a potential need for increased investment in research and development (R&D) as well as policies to enhance intellectual property protection and innovation. Improving these indicators can lead to greater economic diversification, competitiveness, and long-term sustainable growth for Azerbaijan.

Broad Economy Attributes

1. Azerbaijan's GDP (current US$) is $42,693,000,000. This is significantly below the average GDP of $442,870,224,838.68. Azerbaijan ranks 88th out of 189 countries in this attribute.

2. For GDP, PPP (current international $), Azerbaijan's value is $146,306,419,794.21, which is notably lower than the average GDP of $734,141,122,350.78. Azerbaijan ranks 75th out of 181 countries in this category.

3. Azerbaijan's GDP per capita (current US$) stands at $4,229.91, well under the average of $15,462.11. The country ranks 112th out of 190 nations for this measure.

4. In terms of GDP per capita, PPP (current international $), Azerbaijan's value of $14,495.66 falls short of the average of $21,251.89. Azerbaijan holds the 85th position out of 181 countries in this metric.

5. Azerbaijan's GNI (current US$) is $42,422,882,352.94, significantly lower than the average GNI of $452,040,815,370.70. Azerbaijan ranks 87th out of 185 countries in this aspect.

6. The country's GNI, PPP (current international $) is $145,380,742,379.55, which is notably below the average GNI of $730,698,223,823.47. Azerbaijan ranks 75th out of 181 countries for this indicator.

7. For GNI per capita, PPP (current international $), Azerbaijan's value is $14,400, below the average of $20,615.75. The country ranks 80th out of 181 nations in this specific category.

Summary

Despite its strategic location and oil-rich resources, Azerbaijan lags behind global averages in key macroeconomic indicators such as GDP, GDP per capita, and GNI. The country's lower-than-average rankings signify potential challenges in economic development, investment attractiveness, and overall standard of living for its citizens. Addressing these disparities will be crucial for Azerbaijan to enhance its economic competitiveness and ensure sustainable growth in the long term.

Broad Value Added

- Gross value added at basic prices (GVA) (current US$): Azerbaijan's GVA is $38,664,529,412. It is below the average GVA of $360,070,943,595, ranking 82 out of 176 countries. - Agriculture, forestry, and fishing, value added (% of GDP): Azerbaijan's value added in this sector is 6.74% of its GDP, below the average of 10.86%. It ranks 97 out of 182 countries. - Agriculture, forestry, and fishing, value added (current US$): Azerbaijan's value added in this sector is $2,877,058,823, significantly below the average of $19,924,732,828. It ranks 98 out of 182 countries. - Services, value added (% of GDP): Azerbaijan's value added in services is 42.35% of its GDP, below the average of 56.72%. It ranks 161 out of 183 countries. - Services, value added (current US$): Azerbaijan's value added in services is $18,082,294,118, well below the average of $295,837,711,131. It ranks 95 out of 183 countries. - Industry (including construction), value added (current US$): Azerbaijan's value added in this sector is $17,912,411,765, significantly below the average of $118,421,095,413. It ranks 72 out of 183 countries.

Summary

Azerbaijan's Gross Value Added at basic prices is significantly below the global average, ranking 82nd out of 176 countries. The country's value added in the Agriculture, forestry, and fishing sector and Services sector, both in terms of GDP percentage and current US dollars, lag behind the averages. This indicates a potential imbalance in Azerbaijan's economy, with reliance on services but underperformance in key sectors like agriculture and industry, which could hinder long-term sustainable growth and economic diversification.

Manufacturing Value Added

Azerbaijan's Manufacturing, value added (current US$) is significantly below the average, with a value of 2604941176.47. The country ranks 100th out of 173 countries in this attribute.

Manufacturing, value added (% of GDP) in Azerbaijan is also below the average at 6.10%, ranking 138th out of 173 countries.

Azerbaijan's Medium and high-tech manufacturing value added (% manufacturing value added) is notably below average at 11.63%, placing the country at 106th out of 149 countries.

The country excels in Chemicals (% of value added in manufacturing) at 5.44%, above the average. Azerbaijan ranks 69th out of 89 countries in this attribute.

Food, beverages, and tobacco (% of value added in manufacturing) in Azerbaijan stand at 32.75%, above the average. The country is ranked 23rd out of 92 countries.

Azerbaijan's Machinery and transport equipment (% of value added in manufacturing) is below the average at 6.13%, placing the country at 66th out of 93 countries.

Azerbaijan's Textiles and clothing (% of value added in manufacturing) are below average at 3.30%, with the country ranked 44th out of 93 countries.

Other manufacturing (% of value added in manufacturing) in Azerbaijan is above average at 52.39%, ranking 18th out of 94 countries.

Summary

Azerbaijan's manufacturing sector, as reflected by key indicators, falls below average in terms of value added to GDP and high-tech manufacturing. However, the country excels in the production of chemicals, food, beverages, and tobacco, as well as other manufacturing segments. These findings are crucial as they highlight Azerbaijan's strengths and weaknesses in specific manufacturing subsectors, which can guide policymakers in formulating strategies to enhance industrial growth and competitiveness.

Money

1. Inflation, consumer prices (annual %): Azerbaijan has a relatively low consumer price inflation rate of 2.76%, which is below the average of 8.26%. The country ranks 68th out of 165 countries in this aspect.

2. Inflation, GDP deflator (annual %): Azerbaijan's GDP deflator inflation rate is -7.40%, significantly lower than the average of 6.90%. The country ranks 176th out of 188 countries in this metric.

3. Broad money growth (annual %): Azerbaijan's broad money growth rate is 1.11%, much lower than the average of 18.03%. The country ranks 129th out of 139 countries in this category.

4. Broad money (% of GDP): Azerbaijan's broad money as a percentage of GDP is 40.21%, below the average of 71.75%. The country ranks 106th out of 139 countries in this aspect.

5. Broad money to total reserves ratio: Azerbaijan's ratio is 2.25, lower than the average of 5.17. The country ranks 85th out of 126 countries based on this metric.

Summary

Azerbaijan demonstrates relatively low inflation rates compared to global averages, ranking moderately in consumer price inflation but lower in GDP deflator inflation. The country's broad money growth and broad money as a percentage of GDP are notably lower than the global averages, indicating a more conservative monetary policy approach. This may signify stability in prices and economic activity, but could also suggest constraints on domestic investment and economic growth due to lower money supply and circulation.

Consumption Expenditure

Final consumption expenditure (current US$): Azerbaijan's final consumption expenditure is $32,918,352,941.18, which is significantly below the attribute average of $381,630,252,515.38. Azerbaijan ranks 84th out of 159 countries.

Final consumption expenditure (% of GDP): Azerbaijan's final consumption expenditure as a percentage of GDP is 77.10%, lower than the average of 82.37%. Azerbaijan ranks 98th out of 159 countries.

General government final consumption expenditure (current US$): Azerbaijan's general government final consumption expenditure is $6,924,352,941.18, well below the average of $93,676,578,238.03. Azerbaijan ranks 79th out of 158 countries.

General government final consumption expenditure (% of GDP): Azerbaijan's general government final consumption expenditure as a percentage of GDP is 16.22%, lower than the average of 18.71%. Azerbaijan ranks 93rd out of 158 countries.

Household and NPISHs Final consumption expenditure (current US$): Azerbaijan's household and NPISHs final consumption expenditure is $25,994,000,000, significantly below the average of $290,127,571,157.69. Azerbaijan ranks 85th out of 158 countries.

Households and NPISHs final consumption expenditure (% of GDP): Azerbaijan's household and NPISHs final consumption expenditure as a percentage of GDP is 60.89%, below the average of 63.68%. Azerbaijan ranks 85th out of 158 countries.

Summary

Azerbaijan's final consumption expenditure, general government final consumption expenditure, and household and NPISHs final consumption expenditure are all below global averages in both absolute terms and as a percentage of GDP. This indicates a relatively lower level of consumption activity in the country compared to the global average. These figures are crucial as they reflect the overall economic activity, government spending, and individual consumption patterns in Azerbaijan, which can provide insights into the country's economic development, public budget allocation, and consumer behavior.

Equities

1. Listed domestic companies, total: Azerbaijan has 13 listed domestic companies, which is significantly below the average of 636.625 companies. This places Azerbaijan at rank 67 out of 72 countries.

2. Stocks traded, total value (current US$): The total value of stocks traded in Azerbaijan is $17,620,000, much lower than the average of $1,379,501,820.91. Azerbaijan ranks 66 out of 71 countries in this aspect.

3. Stocks traded, total value (% of GDP): Stocks traded in Azerbaijan account for 0.041% of the country's GDP, a figure below the average of 31.65%. Azerbaijan ranks 69 out of 71 countries in this metric.

4. Market capitalization of listed domestic companies (current US$): The market capitalization of listed domestic companies in Azerbaijan is $1,434,370,000, which is well below the average of $1,196,037,851,618.88. Azerbaijan ranks 71 out of 73 countries in this category.

5. Market capitalization of listed domestic companies (% of GDP): The market capitalization of listed domestic companies in Azerbaijan is 3.36% of GDP, much lower than the average of 71.24%. This places Azerbaijan at rank 71 out of 73 countries included in the data.

Summary

Azerbaijan lags behind in key macroeconomic indicators related to its stock market and listed domestic companies. With below-average numbers of listed domestic companies, low stock trading values, and minimal market capitalization compared to the global average, Azerbaijan faces challenges in developing a robust and competitive stock market environment. These indicators are important as they reflect the level of investor confidence, liquidity, and overall depth of the country's capital markets, which are crucial for attracting investments and promoting economic growth.

Investment

1. Foreign direct investment, net (BoP, current US$): In Azerbaijan, the net foreign direct investment is $318,126,200, ranking 31 out of 169 countries. This value is higher than the average net foreign direct investment of -$1,615,235,980.51.

2. Foreign direct investment, net inflows (BoP, current US$): Azerbaijan has net inflows of $507,151,800, placing it at rank 94 out of 182 countries. The country performs below average with a difference of -$5,242,119,280.15 compared to the average net inflows.

3. Foreign direct investment, net inflows (% of GDP): Azerbaijan's net inflows as a percentage of GDP are 1.19%, ranking 112 out of 178 countries. The country falls short of the average by -1.42% in this aspect.

4. Foreign direct investment, net outflows (BoP, current US$): The net outflows in Azerbaijan amount to $825,278,000, placing it at rank 44 out of 156 countries. This value is significantly lower than the average net outflows of $5,707,991,116.07.

5. Foreign direct investment, net outflows (% of GDP): Azerbaijan's net outflows as a percentage of GDP stand at 1.93%, ranking 20 out of 155 countries. The country exceeds the average by 0.93% in this metric.

6. Portfolio Investment, net (BoP, current US$): Azerbaijan's net portfolio investment is $281,845,000, ranking 51 out of 159 countries. This value is notably lower than the average net portfolio investment.

7. Portfolio equity, net inflows (BoP, current US$): The country receives $74,869,000 in net equity inflows, ranking 33 out of 125 countries. Azerbaijan's performance in this area is significantly below the average net equity inflows.

Summary

Azerbaijan demonstrates mixed performance in foreign direct investment and portfolio investment indicators compared to global averages. The country attracts a substantial amount of net foreign direct investment but falls below average in net inflows as a percentage of GDP. Additionally, Azerbaijan has lower net outflows and portfolio investment compared to global benchmarks. These indicators are crucial as they reflect the country's attractiveness to foreign investors and its level of financial integration with the global economy.

Debt

Analysis of key debt statistics for Azerbaijan:

1. Total debt service (% of GNI): Azerbaijan's total debt service is 4.38% of GNI, which is below the average of 5.98%. Azerbaijan ranks 58 out of 120 countries in this metric.

2. Public and publicly guaranteed debt service (% of GNI): The country's debt service stands at 3.21% of GNI, higher than the average of 2.84%. Azerbaijan ranks 43 out of 120 countries in this category.

3. External debt stocks (% of GNI): Azerbaijan's external debt stocks are at 38.84% of GNI, significantly below the average of 65.42%. The country ranks 80 out of 120 countries for this metric.

4. Debt service on external debt, total (TDS, current US$): Azerbaijan's debt service on external debt amounts to 1,858,665,516.6 US$, below the average of 9,811,195,839.23 US$. The country ranks 50 out of 123 countries in this aspect.

5. Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$): Azerbaijan's debt service on public and publicly guaranteed external debt is 1,361,937,926 US$, lower than the average of 3,310,612,057.60 US$. The country ranks 39 out of 123 countries for this statistic.

6. External debt stocks, public and publicly guaranteed (PPG) (DOD, current US$): The external debt stocks for public and publicly guaranteed debt in Azerbaijan stand at 14,666,682,701.30 US$, well below the average of 28,695,879,144.98 US$. Azerbaijan ranks 44 out of 123 countries in this metric.

7. External debt stocks, private nonguaranteed (PNG) (DOD, current US$): Azerbaijan's external debt stocks for private nonguaranteed debt are 1,138,210,657.20 US$, significantly lower than the average of 33,734,699,285.22 US$. The country ranks 68 out of 91 countries for this specific aspect.

8. External debt stocks, total (DOD, current US$): The total external debt stocks of Azerbaijan amount to 16,478,249,028.40 US$, well below the average of 73,845,530,111.82 US$. Azerbaijan ranks 56 out of 123 countries in this category.

Summary

Azerbaijan's key debt statistics indicate that the country maintains a relatively low level of debt burden compared to global averages. With debt metrics such as total debt service, external debt stocks, and debt service on external debt ranking below average, Azerbaijan demonstrates a prudent approach to managing its debt obligations. These statistics are essential as they showcase Azerbaijan's financial stability, ability to service its debts, and overall creditworthiness in the international market, which can influence investor confidence, borrowing costs, and the country's economic growth trajectory.

Broad Trade Attributes

- Azerbaijan's Trade as a percentage of GDP stands at 72.02%, which is below the average of 82.34%. It ranks 73rd out of 163 countries.
- The Merchandise trade accounts for 57.30% of Azerbaijan's GDP, below the average of 60.01%. Azerbaijan is ranked 74th out of 186 countries.
- Trade in services represents 19.16% of Azerbaijan's GDP, lower than the average of 24.63%. It ranks 67th out of 171 countries.
- Azerbaijan's External balance on goods and services is at -$329,058,823.53, significantly below the average of $3,405,509,011.13. Azerbaijan ranks 85th out of 163 countries.
- The External balance on goods and services as a percentage of GDP is -0.77% in Azerbaijan, contrasting the average of -5.97%. Azerbaijan is ranked 70th out of 163 countries.

Summary

Azerbaijan has a relatively low trade contribution to its GDP, both in merchandise trade and trade in services, ranking below average in global comparisons. Its negative external balance on goods and services, along with a low percentage relative to GDP, suggests a potential imbalance in its trading relationships. Diversifying trade partners and sectors could help Azerbaijan improve its external balance and strengthen its overall economic resilience.

Net Trade

1. Current account balance (BoP, current US$): Azerbaijan's current account balance is -316,301,456.70 USD, which is below the average of 1,443,864,831.49 USD. Azerbaijan ranks 93 out of 170 countries in this attribute.

2. Current account balance (% of GDP): The current account balance as a percentage of GDP for Azerbaijan is -0.74%, above the average of -2.36%. Azerbaijan ranks 74 out of 170 countries in this attribute.

3. Net trade in goods and services (BoP, current US$): Azerbaijan's net trade in goods and services is -417,799,456.70 USD, lower than the average of 2,604,730,003.57 USD. Azerbaijan ranks 92 out of 171 countries in this attribute.

4. Net primary income (BoP, current US$): Azerbaijan's net primary income is -456,278,000 USD, higher than the average of -903,807,529.74 USD. Azerbaijan ranks 86 out of 170 countries in this attribute.

5. Net secondary income (BoP, current US$): Azerbaijan's net secondary income is 557,776,000 USD, above the average of -269,227,340.40 USD. Azerbaijan ranks 74 out of 170 countries in this attribute.

6. Net trade in goods (BoP, current US$): The net trade in goods for Azerbaijan is 2,511,594,000 USD, exceeding the average of 1,302,831,005.68 USD. Azerbaijan ranks 42 out of 171 countries in this attribute.

7. Net capital account (BoP, current US$): Azerbaijan's net capital account is -7,375,000 USD, below the average of 136,543,824.05 USD. Azerbaijan ranks 126 out of 159 countries in this attribute.

8. Net financial account (BoP, current US$): Azerbaijan's net financial account is 413,099,200 USD, surpassing the average of -469,840,994.63 USD. Azerbaijan ranks 54 out of 170 countries in this attribute.

Summary

Azerbaijan has a mixed performance in key macroeconomic indicators. While it struggles with a negative current account balance and net primary income, it excels in net secondary income and net trade in goods. These indicators are crucial as they reflect Azerbaijan's economic stability, international trade competitiveness, and ability to attract foreign investments.

Broad Export Attributes

1. Exports of goods, services and primary income (BoP, current US$): Azerbaijan's value is $17,069,702,440.86, below the attribute average of $146,238,908,936.30. It ranks 77 out of 170 countries.

2. Exports of goods and services (BoP, current US$): Azerbaijan's value is $15,214,155,440.86, below the attribute average of $122,938,540,059.78. It ranks 77 out of 170 countries.

3. Exports of goods and services (current US$): Azerbaijan's value is $15,208,764,705.88, below the attribute average of $129,596,864,610.19. It ranks 77 out of 163 countries.

4. Exports of goods and services (% of GDP): Azerbaijan's value is 35.62%, below the attribute average of 38.19%. It ranks 66 out of 163 countries.

5. Goods exports (BoP, current US$): Azerbaijan's value is $12,588,158,000, below the attribute average of $93,310,581,697.39. It ranks 75 out of 171 countries.

6. International tourism, receipts (% of total exports): Azerbaijan's value is 2.23%, below the attribute average of 9.74%. It ranks 83 out of 120 countries.

7. ICT goods exports (% of total goods exports): Azerbaijan's value is 0.14%, below the attribute average of 3.81%. It ranks 103 out of 142 countries.

Summary

Azerbaijan's export performance across various key indicators is below the global average and ranks relatively low among countries. This indicates a potential challenge for the country in maximizing its international trade potential and diversifying its export base. Addressing these shortcomings is crucial for Azerbaijan's economic growth and stability, as exports play a vital role in generating revenue, creating employment, and fostering overall development.

Merchandise Exports

Azerbaijan's merchandise exports amount to $13.73 billion, placing it at a rank of 78 out of 187 countries. This value is significantly below the average merchandise export value of $89.54 billion.

The country's agricultural raw materials exports constitute 1.03% of its merchandise exports, below the average of 2.97%. Azerbaijan ranks 79th out of 151 countries in this aspect.

Food exports make up 5.49% of Azerbaijan's merchandise exports, which is lower than the average of 24.06%. The country ranks 123rd out of 152 countries for this metric.

Fuel exports account for a substantial 87.25% of Azerbaijan's merchandise exports, significantly above the average of 13.70%. This places Azerbaijan at a high rank of 5 out of 147 countries.

Azerbaijan's ores and metals exports represent 1.29% of its merchandise exports, compared to the average of 9.10%. The country is ranked 114th out of 152 countries for this export category.

The residual merchandise exports, which are not classified under specific categories, contribute 0.32% to Azerbaijan's total merchandise exports. This figure is below the average of 3.20%. Azerbaijan holds a rank of 145 out of 166 countries in this regard.

Summary

Azerbaijan heavily relies on fuel exports, which account for a significant portion of its merchandise exports at 87.25%. This high dependence on fuel exports poses a risk to Azerbaijan's economy due to the volatility of global oil prices. Additionally, Azerbaijan's relatively low diversification in agricultural and food exports compared to the global average indicates potential for development and growth in these sectors to reduce reliance on a single export commodity.

Technology Exports

Manufactures exports (% of merchandise exports): Azerbaijan's value for this attribute is 3.49%, significantly below the average of 42.62%. This places Azerbaijan at rank 145 out of 152 countries.

High-technology exports (current US$): Azerbaijan's value for high-technology exports is $33,914,977, much lower than the average of $16,655,934,078.80. The country ranks 96th out of 151 countries in this aspect.

High-technology exports (% of manufactured exports): In this category, Azerbaijan's value is 7.07%, below the average of 10.15%. Azerbaijan is ranked 73rd out of 150 countries for this attribute.

Medium and high-tech exports (% manufactured exports): Azerbaijan's value is 34.24%, slightly below the average of 34.29%. The country ranks 70th out of 149 countries in this specific area.

Summary

Azerbaijan exhibits below-average performance in key macroeconomic indicators related to exports. The country ranks quite low compared to global averages and other nations in terms of manufactures exports, high-technology exports, and their share of manufactured exports. This indicates a potential lack of diversification in Azerbaijan's export sector and a need for further investment in high-tech industries to boost economic growth and competitiveness on the global stage.

Service Exports

Service exports in Azerbaijan amount to $2,625,997,440.86, which is significantly below the average of $28,917,292,503.82, ranking 80th out of 171 countries.

ICT service exports stand at $65,155,000 in Azerbaijan, well below the average of $4,578,501,153.77, placing the country 106th out of 166 nations.

ICT service exports as a percentage of total service exports is 2.48% in Azerbaijan, much lower than the average of 11.75%, with a rank of 142 out of 166 countries.

Communications, computer, etc. services as a percentage of total service exports in Azerbaijan is 24.62%, below the average of 45.85%, ranking 129th out of 169 countries.

Transport services account for 62.63% of Azerbaijan's service exports, significantly above the average of 21.80%, ranking 6th out of 169 countries.

Travel services make up 11.58% of Azerbaijan's service exports, below the average of 26.40%, with a rank of 116 out of 167 countries.

Insurance and financial services contribute 1.17% to Azerbaijan's service exports, significantly lower than the average of 6.46%, ranking 132nd out of 161 countries.

Summary

In summary, Azerbaijan's service exports show strengths in transport services, accounting for a high percentage compared to the global average and ranking 6th internationally. However, the country lags behind in ICT services and insurance/financial services exports, ranking lower than average in these categories. These indicators are crucial as they reflect Azerbaijan's competitive advantage and areas needing improvement in the global market, guiding policymakers in diversifying and enhancing the country's service export portfolio.

Commercial Service Exports

For Commercial service exports (current US$), Azerbaijan's value of $2,599,375,440.86 is significantly below the average of $28,508,218,402.80. Azerbaijan ranks 79th out of 171 countries in this attribute.

Travel services (% of commercial service exports) in Azerbaijan stand at 11.70%, which is below the average of 27.89%. Azerbaijan ranks 117th out of 167 countries for this attribute.

Azerbaijan's Computer, communications, and other services (% of commercial service exports) represent 23.84%, lower than the average of 42.44%. In this category, Azerbaijan ranks 123rd out of 169 countries.

The Insurance and financial services (% of commercial service exports) for Azerbaijan are at 1.18%, well below the average of 6.97%. Azerbaijan holds the 132nd rank out of 161 countries for this attribute.

Transport services (% of commercial service exports) in Azerbaijan account for 63.27%, significantly above the average of 23.37%. Azerbaijan ranks 7th out of 169 countries in this category.

Summary

Azerbaijan's commercial service exports value is significantly below the global average, ranking 79th out of 171 countries. The country's performance in various service sectors like travel services, computer and communications services, insurance and financial services, and transport services also falls below average, with rankings ranging from 7th to 132nd out of various countries.

These findings are important as they highlight Azerbaijan's comparative position in the global service exports market. The below-average performance across multiple service sectors indicates potential areas for improvement and diversification to enhance the country's competitiveness and economic growth in the international trade landscape.

Broad Import Attributes

For "Imports of goods and services (current US$)", Azerbaijan's value is $15,537,823,529.41. This is significantly below the average of $126,191,355,599.06. Azerbaijan ranks 82 out of 163 countries in this category.

Regarding "Imports of goods and services (% of GDP)", Azerbaijan's value is 36.39%, which is below the average of 44.15%. Azerbaijan ranks 86 out of 163 countries for this metric.

For "International tourism, expenditures (% of total imports)", Azerbaijan's rate is 2.81%, lower than the average of 3.98%. Azerbaijan ranks 72 out of 131 countries in this aspect.

In terms of "ICT goods imports (% total goods imports)", Azerbaijan's value is 5.86%, lower than the average of 6.85%. The country ranks 61 out of 143 nations for this metric.

In the category of "Goods imports (BoP, current US$)", Azerbaijan's figure is $10,076,564,000, significantly below the average of $92,007,788,027.17. The country ranks 84 out of 171 in this attribute.

For "Imports of goods and services (BoP, current US$)", Azerbaijan's value is $15,631,954,897.56, noticeably lower than the average of $120,321,577,988.12. Azerbaijan ranks 83 out of 170 countries in this category.

Concerning "Imports of goods, services and primary income (BoP, current US$)", Azerbaijan's value stands at $17,943,779,897.56, significantly below the average of $144,514,428,722.28. The country holds the 83rd position out of 170 countries for this attribute.

Summary

Azerbaijan's key macroeconomic indicators for imports of goods and services show that the country generally falls below the global averages in terms of both dollar value and percentage of GDP for various import categories. This indicates a relatively lower level of international trade activity compared to the average of countries analyzed. These findings are important as they highlight Azerbaijan's position in the global market, revealing potential areas for improvement in trade strategies and economic growth.

Merchandise Imports

Merchandise imports (current US$): Azerbaijan's merchandise imports amount to $10,732,000,000, ranking 87th out of 190 countries. This is significantly below the average of $89,385,605,263.16 for all countries in the dataset.

Manufactures imports (% of merchandise imports): Azerbaijan's percentage of manufactured imports at 72.36% is above the average of 66.76%. Azerbaijan ranks 45th out of 152 countries included in the data.

Agricultural raw materials imports (% of merchandise imports): Azerbaijan's import percentage of agricultural raw materials is 1.66%, higher than the average of 1.27%. Azerbaijan ranks 35th out of 152 countries.

Food imports (% of merchandise imports): Azerbaijan's food imports constitute 17.33% of merchandise imports, slightly above the average of 15.89%. Azerbaijan ranks 54th out of 152 countries.

Fuel imports (% of merchandise imports): Azerbaijan's fuel imports represent 2.61% of merchandise imports, well below the average of 11.38%. This places Azerbaijan at 146th out of 152 countries.

Ores and metals imports (% of merchandise imports): Azerbaijan's ores and metals imports make up 1.15% of total imports, significantly lower than the average of 2.57%. Azerbaijan ranks 103rd out of 152 countries.

Merchandise imports by the reporting economy, residual (% of total merchandise imports): Azerbaijan's residual imports account for 0.003% of total merchandise imports, significantly lower than the average of 2.51%. Azerbaijan holds the 160th rank out of 180 countries included in the dataset.

Summary

Azerbaijan's key macroeconomic indicators for merchandise imports reveal a significant dependency on manufactured imports, with a percentage of 72.36%, above the average. However, the country's fuel imports are notably low at 2.61%, ranking 146th out of 152 countries. This data is crucial as it indicates Azerbaijan's reliance on manufactured goods and the need to diversify its import sources to mitigate risks associated with low fuel imports.

Service Imports

Azerbaijan's service imports amount to $5,555,390,897.56, which is below the average of $27,615,356,170.47. The country ranks 69th out of 171 countries in this attribute data.

In terms of Communications, computer, etc. (% of service imports, BoP), Azerbaijan's value is 66.05%, above the average of 44.40%. The country holds the 18th rank out of 169 countries.

Azerbaijan's Transport services (% of service imports, BoP) value stands at 23.44%, below the average of 32.90%. The country ranks 110th out of 169 countries in this aspect.

Azerbaijan's Travel services (% of service imports, BoP) is 7.41%, which is lower than the average of 14.14%. The country is ranked 116th out of 169 countries.

The Insurance and financial services (% of service imports, BoP) for Azerbaijan is 3.10%, below the average of 8.53%. Azerbaijan holds the 136th rank out of 169 countries in this category.

Summary

Azerbaijan's service imports are significantly below the global average, ranking 69th out of 171 countries. The country shows strength in Communications, computer, etc. (% of service imports, BoP), ranking 18th globally, but falls behind in Transport, Travel, and Insurance and financial services. These indicators are crucial as they highlight Azerbaijan's reliance on certain service sectors for imports and its performance relative to other countries, shedding light on areas that may need improvement for enhancing economic competitiveness.

Commercial Service Imports

For Commercial service imports in Azerbaijan, the value is $5,479,883,897.56, which is below the average of $27,102,746,128.60. Azerbaijan ranks 68th out of 171 countries in this dataset.

Computer, communications, and other services (% of commercial service imports) in Azerbaijan are at 65.58%, which is above the average of 41.71%. Azerbaijan ranks 20th out of 169 countries in this category.

Insurance and financial services (% of commercial service imports) in Azerbaijan stand at 3.15%, below the average of 8.85%. Azerbaijan ranks 137th out of 169 countries.

Transport services (% of commercial service imports) in Azerbaijan are at 23.76%, below the average of 34.71%. Azerbaijan ranks 112th out of 169 countries.

Travel services (% of commercial service imports) in Azerbaijan are at 7.51%, below the average of 14.73%. Azerbaijan ranks 119th out of 169 countries.

Summary

In analyzing key macroeconomic indicators for Azerbaijan, it is evident that the country has a significant focus on computer, communications, and other services, with a percentage of 65.58%, well above the global average of 41.71%. However, Azerbaijan's reliance on insurance and financial services is comparatively low at 3.15%, ranking 137th globally. Furthermore, the country's below-average shares in transport services and travel services indicate areas that may need further development to enhance economic diversification and growth.

These findings are crucial as they offer insights into Azerbaijan's economic structure and trade dynamics. A high percentage of commercial service imports in computer and communication services signifies a potential strength in the technology sector, which can drive innovation and competitiveness. On the other hand, the lower shares in insurance, financial, transport, and travel services suggest areas for policy focus to improve efficiency, connectivity, and revenue generation within these sectors, ultimately contributing to overall economic resilience and sustainability.

Infrastructure

1. Railways, passengers carried (million passenger-km): Azerbaijan's value of 172 million passenger-km is significantly below the average of 32,281.92 million passenger-km. With a rank of 53 out of 64 countries, Azerbaijan lags behind in this aspect.

2. Railways, goods transported (million ton-km): Azerbaijan's value of 4,861 million ton-km is notably below the average of 119,231.19 million ton-km. Ranked 32 out of 62 countries, Azerbaijan shows lower volume in goods transported via railways.

3. Air transport, freight (million ton-km): Azerbaijan's value of 2,030.38 million ton-km is above the average of 1,384.37 million ton-km. Positioned at 17 out of 126 countries, Azerbaijan excels in this particular air transport metric.

4. Air transport, registered carrier departures worldwide: Azerbaijan's 11,648 departures fall significantly below the average of 134,365.61 departures. With a rank of 77 out of 149 countries, Azerbaijan has room for growth in this area of air transport.

5. Air transport, passengers carried: Azerbaijan's figure of 545,265 passengers carried is well below the average of 11,848,242.70 passengers. At a rank of 88 out of 149 countries, Azerbaijan indicates lower passenger volume in air transport.

6. Rail lines (total route-km): Azerbaijan's total route length of 2,239.18 km trails the average of 12,204.74 km. Ranked 42 out of 66 countries, Azerbaijan has a relatively shorter rail route network compared to other nations in the dataset.

Summary

Azerbaijan falls below the global average in key transportation metrics such as railways passengers carried, goods transported, and air transport departures and passengers carried. However, the country excels in air transport freight metric. These statistics are crucial as they highlight Azerbaijan's current standing and potential for growth in the transportation sector, impacting its connectivity, trade efficiency, and economic development.

Information Technology Infrastructure

Analysis for Azerbaijan:

1. Secure Internet servers: Azerbaijan has 3021 secure internet servers. This is below the average of 458,294.19, ranking 91 out of 193 countries.

2. Secure Internet servers (per 1 million people): Azerbaijan has 299.31 secure internet servers per 1 million people. This is significantly below the average of 14,067.17, ranking 111 out of 193 countries.

3. Individuals using the Internet (% of population): 84.6% of Azerbaijan's population uses the internet. This is above the average of 64.77%, ranking 51 out of 180 countries.

4. Fixed broadband subscriptions: Azerbaijan has 1,995,474 fixed broadband subscriptions. This is below the average of 6,591,956.35, ranking 56 out of 185 countries.

5. Mobile cellular subscriptions: Azerbaijan has 10,344,300 mobile cellular subscriptions. This is below the average of 42,526,463.87, ranking 87 out of 193 countries.

Summary

In summary, Azerbaijan has a lower number of secure internet servers compared to the global average, both in absolute terms and per 1 million people. However, the country performs well in terms of individuals using the internet, with a percentage above the global average. When it comes to fixed broadband subscriptions and mobile cellular subscriptions, Azerbaijan falls below the average, indicating potential areas for improvement in digital connectivity infrastructure.

These indicators are important as they highlight Azerbaijan's digital infrastructure development compared to global standards. Enhancing secure internet server quantity and broadband subscriptions could improve connectivity and access to information, ultimately supporting economic growth and competitiveness in the digital age.

Energy Consumption

Regarding Renewable energy consumption (% of total final energy consumption), Azerbaijan has a value of 1.23%, significantly below the average of 32.18%. This places Azerbaijan at rank 174 out of 191 countries included in the data.

As for CO2 emissions (in kilotons), Azerbaijan emitted 34,305 kt, well below the average of 171,895.94 kt. This places Azerbaijan at rank 64 out of 188 countries included in the dataset.

Summary

Azerbaijan has a comparatively low renewable energy consumption of 1.23% and emits a lower amount of CO2, with 34,305 kt, compared to the global average. These statistics highlight Azerbaijan's current reliance on non-renewable energy sources and its relatively lower contribution to global carbon emissions. Addressing these indicators is crucial for Azerbaijan to transition towards sustainable energy practices and reduce its environmental impact on a global scale.

Government Balance Sheet

Net acquisition of financial assets (% of GDP): Azerbaijan has a net acquisition of financial assets of -2.22% of GDP, which is below the average of 2.45%. This places Azerbaijan at rank 79 out of 87 countries included in the data.

Central government debt, total (% of GDP): Azerbaijan's total central government debt is 22.19% of GDP, which is below the average of 74.12%. Azerbaijan ranks 57 out of 61 countries in this attribute.

Net incurrence of liabilities, total (% of GDP): Azerbaijan's net incurrence of liabilities is 3.05% of GDP, lower than the average of 7.43%. Azerbaijan is ranked 78 out of 92 countries in this category.

Total reserves (% of total external debt): Azerbaijan's total reserves are 46.33% of its total external debt, which is below the average of 66.13%. This places Azerbaijan at rank 39 out of 102 countries.

Reserves and related items (BoP, current US$): Azerbaijan's reserves and related items amount to $75,627,855, which is significantly lower than the average of $1,924,407,187. Azerbaijan ranks 76 out of 171 countries in this aspect.

Total reserves minus gold (current US$): Azerbaijan's total reserves minus gold stand at $7,633,632,512, much lower than the average of $74,221,588,171. This puts Azerbaijan at rank 75 out of 161 countries in this attribute.

Total reserves (includes gold, current US$): Azerbaijan's total reserves, including gold, are $7,633,632,512, below the average of $85,708,019,773. Azerbaijan ranks 80 out of 161 countries in this category.

Total reserves in months of imports: Azerbaijan's total reserves in months of imports is 5.11, which is below the average of 7.10 months. Azerbaijan ranks 87 out of 151 countries included in this data.

Summary

Azerbaijan's macroeconomic indicators show that the country generally has lower levels of central government debt, net acquisition of financial assets, net incurrence of liabilities, and total reserves compared to global averages. These statistics are significant as they indicate Azerbaijan's cautious approach towards managing its financial assets and liabilities, which can help maintain stability in its economy and mitigate risks associated with high debt levels and external vulnerabilities.

Government Revenue

Analysis of key fiscal attributes in Azerbaijan:

1. Revenue, excluding grants (% of GDP): Azerbaijan's value is 35.04% of GDP, which is above the average of 27.02%. The country ranks 28th out of 122 countries in this attribute data.

2. Grants and other revenue (% of revenue): Azerbaijan's value stands at 44.77% of revenue, significantly higher than the average of 23.54%. The country holds the 14th rank out of 108 countries included in the data.

3. Social contributions (% of revenue): Azerbaijan's value is 13.81% of revenue, below the average of 22.29%. The country ranks 56th out of 81 countries in this metric.

4. Taxes on goods and services (% of revenue): Azerbaijan's value is 23.04% of revenue, lower than the average of 31.82%. The country ranks 98th out of 122 countries included in the data.

5. Taxes on international trade (% of revenue): Azerbaijan's value stands at 4.36% of revenue, below the average of 6.24%. The country ranks 46th out of 101 countries in this attribute data.

6. Other taxes (% of revenue): Azerbaijan's value is 0.86% of revenue, lower than the average of 2.12%. The country ranks 58th out of 106 countries in this metric.

7. Taxes on income, profits and capital gains (% of revenue): Azerbaijan's value is 13.16% of revenue, significantly below the average of 24.66%. The country ranks 101st out of 119 countries in this attribute data.

Summary

In analyzing key fiscal attributes in Azerbaijan, it is evident that the country's revenue sources are diversified. Azerbaijan performs above average in revenue generation excluding grants, but relies heavily on grants and other revenue sources. The country's relatively lower reliance on taxes compared to the global average, especially on income, profits, and capital gains, could impact its fiscal sustainability and economic development in the long run.

Taxes

1. Tax revenue (% of GDP): Azerbaijan's tax revenue accounts for 15.19% of its GDP, which is below the average of 16.72%. This places Azerbaijan at rank 66 out of 123 countries included in the data.

2. Taxes on exports (% of tax revenue): Azerbaijan's taxes on exports make up 0.03% of its tax revenue, significantly lower than the average of 2.54%. This places Azerbaijan at rank 24 out of 36 countries.

3. Customs and other import duties (% of tax revenue): Azerbaijan's customs and import duties account for 9.14% of its tax revenue, slightly above the average of 9.01%. This places Azerbaijan at rank 32 out of 99 countries.

4. Taxes on income, profits and capital gains (% of total taxes): In Azerbaijan, taxes on income, profits, and capital gains represent 31.78% of total taxes, below the average of 38.40%. This places Azerbaijan at rank 80 out of 120 countries.

5. Tariff rate, applied, weighted mean, all products (%): The applied tariff rate for all products in Azerbaijan is 5.93%, higher than the average of 5.21%. This places Azerbaijan at rank 59 out of 153 countries.

Summary

Azerbaijan's tax revenue as a percentage of GDP is slightly below the global average, ranking 66 out of 123 countries in the dataset. The country has a lower proportion of tax revenue coming from taxes on exports compared to the average, placing it at 24 out of 36 countries. However, Azerbaijan relies slightly more on customs and import duties than the average, ranking 32 out of 99 countries. Taxes on income, profits, and capital gains form a smaller portion of total taxes in Azerbaijan compared to the average, placing the country at rank 80 out of 120. Lastly, Azerbaijan has a higher applied tariff rate for all products compared to the global average, ranking 59 out of 153 countries.

These indicators are critical as they provide insights into Azerbaijan's fiscal policies, trade dynamics, and revenue sources. Understanding these metrics can help policymakers make informed decisions to enhance tax efficiency, promote trade competitiveness, and drive economic growth in the country.

Government Expenses

Expense (% of GDP): Azerbaijan's expense as a percentage of GDP is 33.93%, which is slightly above the average of 31.69%. Azerbaijan ranks 51st out of 123 countries in this attribute.

Compensation of employees (% of expense): Azerbaijan's employee compensation as a percentage of expense is 14.69%, below the average of 24.70%. Azerbaijan ranks 90th out of 123 countries in this attribute.

Goods and services expense (% of expense): Azerbaijan's expenditure on goods and services as a percentage of expense is 13.50%, slightly below the average of 14.77%. Azerbaijan ranks 54th out of 122 countries in this attribute.

Interest payments (% of expense): Azerbaijan's interest payments as a percentage of expense is 2.39%, well below the average of 6.85%. Azerbaijan ranks 92nd out of 121 countries in this attribute.

Other expense (% of expense): Azerbaijan's other expenses as a percentage of total expense is 31.12%, significantly above the average of 8.29%. Azerbaijan ranks 3rd out of 120 countries in this attribute.

Subsidies and other transfers (% of expense): Azerbaijan's spending on subsidies and other transfers as a percentage of expense is 38.30%, below the average of 43.29%. Azerbaijan ranks 70th out of 121 countries in this attribute.

Summary

Azerbaijan's macroeconomic indicators reveal a pattern where the country tends to allocate a higher-than-average percentage of its GDP towards expenses. However, it stands out for its significantly higher allocation towards other expenses, ranking 3rd globally in this category. This expenditure pattern can have important implications on Azerbaijan's fiscal health, economic development, and policy priorities, highlighting the need for efficient allocation and management of resources to ensure sustainable growth and stability.

Top Stats

Ranks in Top Decile For:

Attribute Rank/Total
Military expenditure (% of GDP) 5/148
Oil rents (% of GDP) 8/117
Fuel exports (% of merchandise exports) 5/147
Transport services (% of service exports, BoP) 6/169
Transport services (% of commercial service exports) 7/169
Other expense (% of expense) 3/120

Ranks in Bottom Decile For:

Attribute Rank/Total
Total fisheries production (metric tons) 166/182
Inflation, GDP deflator (annual %) 176/188
Broad money growth (annual %) 129/139
Listed domestic companies, total 67/72
Stocks traded, total value (current US$) 66/71
Stocks traded, total value (% of GDP) 69/71
Market capitalization of listed domestic companies (current US$) 71/73
Market capitalization of listed domestic companies (% of GDP) 71/73
Manufactures exports (% of merchandise exports) 145/152
Fuel imports (% of merchandise imports) 146/152
Renewable energy consumption (% of total final energy consumption) 174/191
Net acquisition of financial assets (% of GDP) 79/87
Central government debt, total (% of GDP) 57/61