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Azerbaijan - Trade & Marketing Information
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ALIGN="RIGHT" SRC="/cgtd/global/asia/azerbaij.gif"> Azerbaijan - key economic data 


Economy Overview:

    Azerbaijan is less developed industrially than either Armenia or Georgia,
    the other Transcaucasian states. It resembles the Central Asian states in
    its majority nominally Muslim population, high structural unemployment, and
    low standard of living. The economy's most prominent products are oil,
    cotton, and gas. Production from the Caspian oil and gas field has been in
    decline for several years, but the November 1994 ratification of the $7.5
    billion oil deal with a consortium of Western companies should generate the
    funds needed to spur future industrial development. Azerbaijan accounted for
    1.5% to 2% of the capital stock and output of the former Soviet Union.
    Azerbaijan shares all the formidable problems of the ex-Soviet republics in
    making the transition from a command to a market economy, but its
    considerable energy resources brighten its long-term prospects. Baku has
    only recently begun making progress on economic reform, and old economic
    ties and structures have yet to be replaced.


National product:
    GDP - purchasing power parity - $13.8 billion (1994 estimate as extrapolated
    from World Bank estimate for 1992)
National product real growth rate:
    -22% (1994 est.)
National product per capita:
    $1,790 (1994 est.)
Inflation rate (consumer prices):
    28% monthly average (1994)
Unemployment rate:
    0.9% includes officially registered unemployed; also large numbers of other
    unemployed and underemployed workers (December 1994)
Budget:
  revenues:
    $167.5 million
  expenditures:
    $234.6 million, including capital expenditures of $NA (1994)



Industrial production:

    growth rate -25% (1994)
Electricity:
  capacity:
    4,900,000 kW
  production:
    17.5 billion kWh
  consumption per capita:
    2,270 kWh (1994)



Economic Activity


Industries:

    petroleum and natural gas, petroleum products, oilfield equipment; steel,
    iron ore, cement; chemicals and petrochemicals; textiles



Agriculture:
    cotton, grain, rice, grapes, fruit, vegetables, tea, tobacco; cattle, pigs,
    sheep and goats
Azerbaijan - key foreign trade data 



Exports:

    $188.2 million (f.o.b., 1991)
  Commodities:
    fruits and nuts, handwoven carpets, wool, cotton, hides and pelts, precious
    and semi-precious gems
   Major Trade Partners::
    FSU countries, Pakistan, Iran, Germany, India, UK, Belgium, Luxembourg,
    Czechoslovakia



Imports:

    $616.4 million (c.i.f., 1991)
  Commodities:
    food and petroleum products; most consumer goods
   Major Trade Partners::
    FSU countries, Pakistan, Iran, Japan, Singapore, India, South Korea, Germany
External debt:
    $2.3 billion (March 1991 est.)
Azerbaijan - Trade, Industry & Marketing information

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