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10 March, 2021updated 29 Oct 2021 18:18

Investing in Azerbaijan: what you need to know

All of the key data and information needed when considering investing in Azerbaijan.

By Carmen

As of 2021, Azerbaijan has a population of 10.2 million, making it the 90th largest country in the world by this measure. There are 50% males and 50% females.

There are 4.9 million people employed in Azerbaijan, with an unemployment rate of 4.8% – 251,777 people.

Azerbaijan is the 215th largest economy in the world with a GDP of $49.1bn. Azerbaijan’s GDP has grown by -7% between 2010 and 2021 and is expected to grow by 21% by 2025.

As of 2018 there were 200,609 students in tertiary education in Azerbaijan, with 945,226 students in secondary and 635,153 in primary education. Azerbaijan spent 2.1% of its GDP on education in 2019.

Azerbaijan ranked 34th in the World Bank’s Doing Business Report (2020). In the 2019 report it finished 25th. In the World Economic Forum’s Global Competitiveness Report (2019), Azerbaijan finished 58th, after ranking 58th in 2018.

Public healthcare expenditure totalled $649m and private healthcare expenditure equalled $2.6bn in 2018.

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