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

10.179 million as of 01 June 2022

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)

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 = 45.20 Indian Rupees

GDP

AZN 63.36 billion (US$ 37.27 billion) (Jan-Jun 2022)

GDP Growth Rate

5.6% (2021), 6.2% (Jan-Jun 2022)

Major Sectors (% of GDP)

Industry- 53.3%, Trade and transport maintenance- 7.7%, Transport and warehouse 5.8%, Agriculture, forestry and fishery- 4.7%, Construction- 3.8%, IT and Communications - 1.3%, Tourism- 1.3% and Other sectors- 14.5% (Jan-Jun 2022)

Unemployment Rate (%)

6.0% (2021)

Inflation (%)

6.7% (2021) , 12.9% (Jan-Jun 2022)

GDP Per Capita

US$ 5,452.5 (2021), US$ 3,709 (Jan-Jun 2022)

Total Trade (Goods)

US$ 33.9 billion (2021), US$ 24.8 billion (Jan-Jun 2022)

Exports (Goods)

US$ 22.2 billion (2021), US$ 18.5 billion (Jan-Jun 2022)

Imports (Goods)

US$ 11.7 billion (2021), US$ 6.3 billion (Jan-Jun 2022)

Balance of Trade

US$ 10.5 billion (2021), US$ 12.2 billion (Jan-Jun 2022)

Major Trading Partners (Currency Unit billion)

Italy - US$ 9.12 billion, Turkey - US$ 2.90 billion, Russia - US$ 1.57 billion, China - US$ 0.96 billion, Israel - US$ 0.95 billion, India - US$ 0.90 billion, Great Britain - US$ 0.72 billion, Greece - US$ 0.59 billion,Germany - US$ 0.55 billion [Jan- Jun 2022]

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$ 739 million (2021), US$ 1,184 million (Jan-Jun 2022)

Indian Exports to Azerbaijan

US$ 144 million (2021), US$ 119 million (Jan-Jun 2022)

Indian Imports from Azerbaijan

US$ 594 million (2021), US$ 1,065 million (Jan-Jun 2022)

Major items of Export and Import

The important items of direct and indirect imports from India to Azerbaijan are rice, mobile phones, drugs, granite, antibiotics, Self-propelled earth-moving and tunnelling machines, unglazed ceramic flags and paving, agricultural tractors and forestry tractors, types of mechanical spades and excavators, other medicaments containing vitamins or other products etc. Major export products from Azerbaijan to India are crude oil. Other exports are urea, oil coke, iodine, raw silk (not thrown) and lemonade (Jan-May 2022)

Indian investment in Azerbaijan

In March 2013, ONGC Videsh Ltd acquired shares worth US$ 1 billion in development project of the Azeri-Chirag-Gunashli (2.31%) 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 $1.2 billion in the Azerbaijani economy according to the Ministry of Economy of the Republic of Azerbaijan.

 

Over 675 Indian companies have been registered in Azerbaijan as of January 2022.

Azerbaijan's investment in India

Azerbaijani Investments in India was US$ 66.5 million as of February 2022 by State Oil Fund of the Republic of Azerbaijan (SOFAZ).

Indian Origin/PRs/Indian Students

Indian Nationals: 1481

PIO: 124

Indian Students: 110

Indian Diaspora (composition and any pertinent information that may be of interest)

The Indian community in Azerbaijan comprises of about 1481 persons (as on May 2022), 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.

September 2022