Markets Actual Q3 Q4 Q1 Q2 2020
Currency 1.69 1.69 1.69 1.69 1.69 1.69
Overview Actual Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 2.40 2.3 2.6 2.5 2.5 2.8
Unemployment Rate (%) 5.20 5 5 4.9 4.9 4.9
Inflation Rate (%) 2.60 2.4 2.7 2.5 2.4 2.4
Interest Rate (%) 8.00 8 7.75 7.75 8 8.5
Balance of Trade (USD Thousand) 348851.00 2407500 2419000 2419000 2419000 2108900
Current Account (USD Million) 1603.00 1300 1315 1315 1315 1400
Current Account to GDP (%) 7.90 13.4 13.4 11 11 11
Government Debt to GDP (%) 48.40 47.5 47.5 50.1 50.1 50.1
Government Budget (% of GDP) -0.40 -1 -1 -0.8 -0.8 -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 Q3 Q4 Q1 Q2 2020
GDP Annual Growth Rate (%) 2.40 2.3 2.6 2.5 2.5 2.8
GDP (USD Billion) 46.94 57 57 65 65 65
GDP Constant Prices (AZN Million) 50875.70 59090 81872 18564 38771 84164
Gross Fixed Capital Formation (AZN Million) 2638.80 4971 4958 2705 2705 5097
GDP per capita (USD) 5769.00 6138 6138 6159 6159 6159
GDP per capita PPP (USD) 16011.00 16150 16150 17101 17101 17101
Gross National Product (AZN Million) 67439.50 68991 69193 69125 69125 71130
GDP From Agriculture (AZN Million) 175.20 709 372 180 180 382
GDP From Construction (AZN Million) 290.10 811 920 297 297 946
GDP From Manufacturing (AZN Million) 297.90 332 381 305 305 392
GDP From Mining (AZN Million ) 2479.90 3620 4071 2542 2542 4185
GDP From Public Administration (AZN Million) 99.50 189 226 102 102 232
GDP From Services (AZN Million ) 529.70 613 743 543 543 764
GDP From Transport (AZN Million) 746.70 1007 1036 765 765 1065
GDP From Utilities (AZN Million) 31.90 30.38 42.78 32.7 32.7 43.98
Labour Actual Q3 Q4 Q1 Q2 2020
Unemployment Rate (%) 5.20 5 5 4.9 4.9 4.9
Unemployed Persons (Thousand ) 251.70 249 249 245 245 245
Minimum Wages (AZN/Month) 143.00 143 143 151 151 151
Population (Million) 9.90 10 10 10.1 10.1 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) 587.70 557 560 560 560 570
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 64 64 64.5 64.5 64.5
Retirement Age Women 60.50 61 61 61.5 61.5 61.5
Prices Actual Q3 Q4 Q1 Q2 2020
Inflation Rate (%) 2.60 2.4 2.7 2.5 2.4 2.4
Inflation Rate Mom (%) -0.30 0.7 0.6 0.5 -0.3 0.7
Food Inflation (%) 3.30 4.7 5 5 5 4.5
Consumer Price Index Cpi (Index Points) 156.04 159 160 160 160 164
Producer Prices (Index Points) 107.39 136 121 121 117 139
Producer Prices Change (%) 5.60 3 3 9 12 15
Money Actual Q3 Q4 Q1 Q2 2020
Interest Rate (%) 8.00 8 7.75 7.75 8 8.5
Money Supply M2 (AZN Million) 16182.20 14150 14190 14190 14190 14500
Deposit Interest Rate (%) 10.28 10.28 10.03 10.03 10.28 10.53
Foreign Exchange Reserves (USD Million) 5939.40 5630 5650 5650 5650 5750
Trade Actual Q3 Q4 Q1 Q2 2020
Balance of Trade (USD Thousand) 348851.00 2407500 2419000 2419000 2419000 2108900
Current Account (USD Million) 1603.00 1300 1315 1315 1315 1400
Current Account to GDP (%) 7.90 13.4 13.4 11 11 11
Imports (USD Thousand) 4754916.00 2319500 2380000 2380000 2380000 2791100
Exports (USD Thousand) 5103166.00 4727000 4799000 4799000 4799000 4900000
Crude Oil Production (BBL/D/1K) 784.00 750 770 765 790 850
Gold Reserves (Tonnes) 0.00 0 0 0 0 0
Foreign Direct Investment (USD Million) 809.00 845 830 830 830 815
Tourist Arrivals 13455.00 17500 17500 19000 19000 19000
Government Actual Q3 Q4 Q1 Q2 2020
Government Debt to GDP (%) 48.40 47.5 47.5 50.1 50.1 50.1
Government Budget (% of GDP) -0.40 -1 -1 -0.8 -0.8 -0.8
Government Spending (AZN Million) 1984.20 2228 2384 2034 2034 2451
Government Spending To GDP (% of GDP) 28.50 26.4 26.4 26.1 26.1 26.1
Taxes Actual Q3 Q4 Q1 Q2 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 Q3 Q4 Q1 Q2 2020
Industrial Production (%) 1.80 -0.8 -0.8 1.8 1.8 1.8
Manufacturing Production (%) -2.00 5.3 5.3 4.8 4.8 4.8
Leading Economic Index (%) 2.40 2.1 2.4 2 2.3 3.1
Mining Production (%) 0.40 6.2 6 6 6 5.8
Car Registrations 1170672.00 1159000 1160000 1170000 1170000 1170000
Changes In Inventories (AZN Million) -120.20 41.1 36.6 36.6 36.6 22.9
Consumer Actual Q3 Q4 Q1 Q2 2020
Retail Sales YoY (%) 3.00 5.8 5.8 5.8 5.5 5.5
Gasoline Prices (USD/Liter) 0.53 0.51 0.49 0.48 0.46 0.47
Disposable Personal Income (AZN Million) 44983.30 46018 46153 46108 46108 47445
Consumer Spending (AZN Million) 11099.90 10931 11388 11377 11377 11707


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.