Embassy of India

Baku, Azerbaijan

GENERAL

Official Name

Republic of Azerbaijan

Capital

Baku

Area

86,600 sq. km [ ~ West Bengal]

[It borders Iran (765 km) and Türkiye (15 km) on the south, Russia (390 km) on the north, Georgia (480 km) on the north-west and Armenia (1007 km) on the west. It has 713 km coastline with the Caspian Sea on the east]

Weather (in C)

Average temperature in summer is 28°C

Average temperature in winter is 14°C

Population

10.22 million as of 01 Dec 2024

Tourist  Arrivals

2.626 million in 2024, including 243,589 tourists from India.

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

73 years (estimated)

Language 

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

Ethnic groups

Azerbaijani 91.6%, Lezgis 2%, Russian 1.3%, Armenian 1.3%, Talysh 1.3%, others 2.4%

Main Religions 

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$ & INR

1 US$ = 1.7 Azerbaijani Manat

1 Azerbaijani Manat  =  INR 51.50

GDP

AZN 126.33 billion (US$ 74.31 billion) (2024)  

GDP Growth Rate

4.1% (2024)

GDP Per Capita

US$ 7,813 (2024)

Major Sectors 

(% of GDP)

2024

Industry: 35.9%, Trade and transport maintenance: 10.7%, Net taxes on products and imports: 9.8%, Transport & warehousing: 7.0%, Construction: 6.7%, Agriculture, forestry & fisheries: 5.7%, Tourism: 2.4%, IT, communications, non oil & gas sectors: 1.9%,  and Other sectors: 19.9% 

Unemployment Rate 

5.47% (As of 1 November 2023)

Inflation 

2.2% (2024)

Total Trade (Goods)

US$ 47.61 billion (2024) 

Exports (Goods)

Major Exports- products (value)

US$ 26.55 billion (2024)

(i) HS 2709 (Petroleum oils and oils obtained from bituminous minerals, crude) - US$ 14.44 Billion

(ii) HS 2711 (Petroleum gases and other gaseous hydrocarbons) - US$ 8.41 billion

(iii) HS 2710 (Petroleum oils and oils obtained from bituminous minerals, other than crude, etc.) - US$ 0.335 billion

(iv) HS 7108 (Gold, unwrought, semi-manufactured or in powder form) - US$  0.212 billion

(v) HS 5201 (Cotton, not carded or combed) - US$  0.177 billion

Imports (Goods)

Major Imports- products (value)

US$ 21.05 billion (2024)

(i) HS 7108 (Gold, unwrought, semi-manufactured or in powder form) - US$  3.313 billion

(ii) HS 8703 (Motor cars and other motor vehicles principally designed for the transport of persons) - US$ 1.567 billion

(ii) HS 2709 (Petroleum oils and oils obtained from bituminous minerals, crude) - US$ 1.02 billion

(iii) HS 2710 (Petroleum oils and oils obtained from bituminous minerals, other than crude, etc.) - US$ 0.722 billion

(iv) HS 8517  (Telephone sets, including smartphones and other telephones for cellular networks or for other wireless networks, etc.) - US$ 0.627 billion

Balance of Trade (in favour of Azerbaijan)

US$ 5.49 billion (2024)

Major Trading Partners 

2024

Italy - US$ 11.39 billion, Türkiye - US$ 6.13 billion, Russia - US$ 4.80 billion, China - US$ 3.74 billion, USA - 1.75 billion, Germany - US$ 1.60 billion, Australia - US$ 1.46 billion, Czech Republic - US$ 1.15 billion, India - US$ 0.958 billion

POLITICAL

Political System

Presidential Republic  

Head of State

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

Prime Minister

H.E. Mr. Ali Asadov

Minister of Foreign Affairs

H.E. Mr. Jeyhun Bayramov

BILATERAL

Bilateral Trade

US$ 0.958 billion (2024)

US$ 1.436 billion (2023)

US$ 1.882 billion (2022)

Indian Exports to Azerbaijan

US$ 224 million (2024)

US$ 201 million (2023)

US$ 220 million (2022)

Indian Imports from Azerbaijan

US$ 0.734 billion (2024)

US$ 1.235 billion (2023)

US$ 1.662 billion (2022)

Major items of Export to India

2024

HS 270900 - Crude Oil: US$ 729.80 million (7.55% of global exports)  

HS 280120 – Iodine: US$ 2.97 million (26.69% of global exports)

HS 271951- Jet Fuel: US$ 0.85 million (1.25% of global exports)

HS 410411 - Cattle Skin: US$ 0.36 million (4.97% of global exports)

Major items of Import from India

2024

HS 100630 – Rice: US$ 50.44 million (78.91% of global imports)

HS 851713 - Smart Phones: US$ 19.77 million (4.49% of global imports)

HS 300490 – Drugs: US$ 15.48 million (4.97%  of global imports)

HS 690721 - Ceramic Tiles: US$ 8.31 million (22.08%  of global imports)

HS 090240 – Other Black Tea: US$ 6.07 million (9.94%  of global imports)

Investments in Azerbaijan

Top Five Investors (1995-2022)

(i) UK

(ii) USA

(iii) Türkiye

(iv) Norway

(v) Japan

Indian Investment: 

ONGC Videsh Ltd (OVL) has acquired 2.925% participating interest in Production Sharing Agreement for Azeri, Chirag and Gunashli (ACG) fields as well as a 3.097% stake in the associated Baku – Tbilisi - Ceyhan (BTC) pipeline from Hess Oil and Gas Holdings Inc. and Equinor. OVL has invested more than US$ 1.2 billion in the project since Mar 2013, which includes the initial acquisition cost.   

Azerbaijan's investment in India

Azerbaijani Investments in India are US$ 57.62 million as of 30 Nov 2022 [In  Private Equity (indirect) by State Oil Fund of the Republic of Azerbaijan (SOFAZ)]. 

Indian Community / Diaspora

Indian Nationals / OCI: 1500, including around 340 students.

Major areas of engagement / employment of Indians 

The Indian community in Azerbaijan comprises of around 1500 people, including professionals employed with international companies in the oil and gas sector, businessmen engaged in commodities trading, catering & restaurant business, construction workers on short-term contracts, and around 340 students studying in Azerbaijani colleges/universities.

Prominent Indian Community Organizations / Persons

Indian Association Azerbaijan (IAA)

Baku Malayalee Association (BMA)

Baku Tamil Sangham (BTA)

Azerbaijan Telugu Association (ATA)

Indian Student Association of Azerbaijan (ISAA)

Participation of locals in Indian cultural events

The Mission and Indian community organisations organise several cultural events, including celebration of various Indian festivals. The local Azerbaijani community actively participates in these cultural events, with enthusiasm.