Fact Sheet on Azerbaijan
Country – Fact Sheet (Azerbaijan)
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GENERAL |
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Official Name |
Republic of Azerbaijan |
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Capital |
Baku |
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Area |
86,600 sq. km |
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Weather (in C) |
Average temperature in summer is 28 C Average temperature in winter is 14 C |
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Population |
10.135 million as of 01 March 2023 |
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Forest Cover (% of total area) |
About 1,131.7 thousand hectors (13.7% of the territory) |
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CO2 emissions |
Estimated at 33,895 KT |
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Tourist Arrivals |
791.8 thousand (2021), 1.603 million (2022), 368.9 thousand (Jan-Mar 2023) |
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Age Profile |
0-14 years: 22.4% 15-24 years: 13.5% 25-54 years: 45.5% 55-64 years: 11.4% 65 years and over: 7.2% |
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Life Expectancy |
Estimated at 73 |
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Language (with % of speakers, if available) |
Azerbaijani (Azeri) (official) 92.6%, Russian 1.4%, Armenian 1.4%, other 4.7% |
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Ethnic groups |
Azerbaijani 91.6%, Lezgian 2%, Russian 1.3%, Armenian 1.3%, Talysh 1.3%, other 2.4% |
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Main Religions (with %, if available) |
Shia Muslim: 70%, Sunni Muslim: 23%, Russian Orthodox: 2.5%, Armenian Orthodox: 2.3%, others: 1.8% |
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Internet Penetration |
80% of population |
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Mobile phones |
10.3 million |
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Urbanisation |
56.4% |
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ECONOMIC |
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Currency |
AZN (Manat) |
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Exchange rate with US$ and Rupee |
US$ 1 = 1.7 Azerbaijani Manat Azerbaijani Manat 1 = Indian Rupees 48.80 |
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GDP |
AZN 30.3 billion (US$ 17.8 billion) (Jan-Mar 2023) AZN 133.8 billion (US$ 78.7 billion) (2022) |
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GDP Growth Rate |
4.6% ( 2022), 0.4% (Jan-Mar 2023), |
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Major Sectors (% of GDP) |
Industry- 47.5%, Trade and transport maintenance- 9.0%, Transport and warehouse 5.4%, Construction- 5.0%, Agriculture, forestry and fishery- 2.4%, IT and Communications - 1.5%, Tourism- 1.9%. Net taxes on products and imports– 9.5% and Other sectors- 17.6% (Jan-Mar 2023)
Industry- 51.1%, Trade and transport maintenance- 8.2%, Transport and warehouse 6.0%, Agriculture, forestry and fishery- 4.8%, Construction- 4.8%, IT and Communications - 1.4%, Tourism- 1.6% Net taxes on products and imports– 7.4% and Other sectors- 14.7% (2022) |
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Unemployment Rate (%) |
5.6% (As of 1 April 2023) |
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Inflation (%) |
13.9% (2022),13.8% (Jan-Mar 2023) |
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GDP Per Capita |
US$ 7,818.8 (2022), US$ 1759.5 (Jan-Mar 2023) |
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Total Trade (Goods) |
US$ 52.7 billion (2022), US$ 11.77 billion (Jan-Mar 2023) |
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Exports (Goods) |
US$ 38.2 billion (2022), US$ 7.74 billion (Jan-Mar 2023) |
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Imports (Goods) |
US$ 14.5 billion (2022), US$ 4.03 billion (Jan-Mar 2023) |
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Balance of Trade |
US$ 23.6 billion (2022), US$ 3.71 billion (Jan-Mar 2023) |
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Major Trading Partners (Currency Unit billion) |
Italy - US$ 18.22 billion, Turkey - US$ 5.84 billion, Russia - US$ 3.71 billion, China - US$ 2.60 billion, India - US$ 1.88 billion, Israel - US$ 1.72 billion, Greece - US$ 1.42 billion, Germany - US$ 1.25 billion, Spain - US$ 1.10 billion, Great Britain - US$ 1.04 billion, [2022]
Italy - US$ 2.97 billion, Turkey - US$ 1.62 billion, Russia - US$ 1.06 billion, China - US$ 625 million, Germany - US$ 461 million, Israel - US$ 450 million, Spain - US$ 416 million, Greece - US$ 374 million, India - US$ 370 million, Romania - US$ 317 million [Jan-Mar 2023] |
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POLITICAL |
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Head of State |
H.E. Mr. Ilham Aliyev, President of the Republic of Azerbaijan |
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Prime Minister |
H.E. Mr. Ali Asadov, Prime Minister |
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Minister of Foreign Affairs |
H.E. Mr. Jeyhun Bayramov, Minister of Foreign Affairs |
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BILATERAL |
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Bilateral Trade |
US$ 1.882 billion (2022), US$ 370.3 million (Jan-Mar 2023) |
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Indian Exports to Azerbaijan |
US$ 220 million (2022), US$ 54.1 million (Jan-Mar 2023) |
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Indian Imports from Azerbaijan |
US$ 1.662 billion (2022), US$ 316.2 million (Jan-Mar 2023) |
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Major items of Export and Import |
The important items of direct and indirect imports from India to Azerbaijan are rice, smart phones, oxides of aluminium, drugs, mobile phones, ceramic tiles and paving, granite, mechanical spades and excavators, meat of large horned livestock, vaccines for human medicine black tea etc. Major export products from Azerbaijan to India are crude oil. Other exports are urea, oil coke, iodine, raw silk (not thrown), cattle skins, acyclic ethers and lemonade (2022) |
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Indian investment in Azerbaijan |
In March 2013, ONGC Videsh Ltd acquired shares worth more than US$ 1 billion in development project of the Azeri-Chirag-Gunashli (2.72%) oil field and the Baku-Tbilisi-Ceyhan pipe line (2.36%). ONGC Videsh signed new PSA on ACG oil field on 14 September 2017. Overall, Indian companies have invested more than US$ 1.2 billion in the Azerbaijani economy according to the Ministry of Economy of the Republic of Azerbaijan.
930 companies with Indian investment are operating in Azerbaijan as of 14 March 2023. |
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Azerbaijan's investment in India |
Azerbaijani Investments in India was US$ 57.6 million as of 30 November 2022 by State Oil Fund of the Republic of Azerbaijan (SOFAZ). |
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Indian Origin/PRs/Indian Students |
Indian Nationals: 1481 PIO: 124 Indian Students: 231 |
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Indian Diaspora (composition and any pertinent information that may be of interest) |
The Indian community in Azerbaijan comprises of about 1481 persons, including professionals employed with international companies in the oil and gas sectors, businessmen engaged in commodities trading, catering and restaurant business and construction workers on short-term contracts. |
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Indian Organizations |
Indian Association Azerbaijan (IAA), Baku Malayalee Association (BMA), Baku Tamil Sangham (BTA) and Azerbaijan Telugu Association (ATA) are active organizations which organize Indian cultural events. |
10 May 2023
