About Us Fact Sheet on Azerbaijan

Country – Fact Sheet (Azerbaijan)

 

GENERAL

Official Name

Republic of Azerbaijan

Capital

Baku

Area

86,600 sq. km

Weather (in C)

Average temperature in summer is 28 C

Average temperature in winter is 14 C

Population

10.135 million as of 01 March 2023

Forest Cover

(% of total area)

About 1,131.7 thousand hectors

(13.7% of the territory)

CO2 emissions

Estimated at 33,895 KT

Tourist Arrivals

791.8 thousand (2021), 1.603 million (2022), 368.9 thousand (Jan-Mar 2023)

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%

Life Expectancy

Estimated at 73

Language (with % of speakers, if available)

Azerbaijani (Azeri) (official) 92.6%, Russian 1.4%, Armenian 1.4%, other 4.7%

Ethnic groups

Azerbaijani 91.6%, Lezgian 2%, Russian 1.3%, Armenian 1.3%, Talysh 1.3%, other 2.4%

Main Religions (with %, if available)

Shia Muslim: 70%, Sunni Muslim: 23%, Russian Orthodox: 2.5%, Armenian Orthodox: 2.3%, others: 1.8%

Internet Penetration

80% of population

Mobile phones

10.3 million

Urbanisation

56.4%

ECONOMIC

Currency

AZN (Manat)

Exchange rate with US$ and Rupee

US$ 1 = 1.7 Azerbaijani Manat

Azerbaijani Manat 1 = Indian Rupees 48.80

GDP

AZN 30.3 billion (US$ 17.8 billion) (Jan-Mar 2023)

AZN 133.8 billion (US$ 78.7 billion) (2022)

GDP Growth Rate

4.6% ( 2022), 0.4% (Jan-Mar 2023),

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)

Unemployment Rate (%)

5.6% (As of 1 April 2023)

Inflation (%)

13.9% (2022),13.8% (Jan-Mar 2023)

GDP Per Capita

US$ 7,818.8 (2022), US$ 1759.5 (Jan-Mar 2023)

Total Trade (Goods)

US$ 52.7 billion (2022), US$ 11.77 billion (Jan-Mar 2023)

Exports (Goods)

US$ 38.2 billion (2022), US$ 7.74 billion (Jan-Mar 2023)

Imports (Goods)

US$ 14.5 billion (2022), US$ 4.03 billion (Jan-Mar 2023)

Balance of Trade

US$ 23.6 billion (2022), US$ 3.71 billion (Jan-Mar 2023)

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]

POLITICAL

Head of State

H.E. Mr. Ilham Aliyev, President of the Republic of Azerbaijan

Prime Minister

H.E. Mr. Ali Asadov, Prime Minister

Minister of Foreign Affairs

H.E. Mr. Jeyhun Bayramov, Minister of Foreign Affairs

BILATERAL

Bilateral Trade

US$ 1.882 billion (2022), US$ 370.3 million (Jan-Mar 2023)

Indian Exports to Azerbaijan

US$ 220 million (2022), US$ 54.1 million (Jan-Mar 2023)

Indian Imports from Azerbaijan

US$ 1.662 billion (2022), US$ 316.2 million (Jan-Mar 2023)

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)

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.

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).

Indian Origin/PRs/Indian Students

Indian Nationals: 1481

PIO: 124

Indian Students: 231

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.

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