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Robust Economy

The current outlook for the Republic of Azerbaijan’s economy can be described as one of "cautious optimism". After being severely affected by both the COVID-19 containment measures and the decline in global oil prices, economy of Azerbiajan demonstrated a fast recovery.

Strategic Location

Geographically, Azerbaijan is located in the South Caucasus region of Eurasia, connecting Western Asia and Eastern Europe. Trans-Caspian East-West Trade and Transit Corridor is a key route connecting two major global economies, China and Europe (on average 5,400 km length, 15 days transit period). Substantial investments in north–south (from the Russian border to the Iranian border) and east–west (from the Absheron Peninsula to Georgia and then Turkey) road and rail connectivity have been made, and most projects are either completed or are well on track.

Favorable Demographics

The population of Azerbaijan is more than 10.1 million. The proportion of men and women are 49.9% and 50.1%, respectively. Population of Azerbaijan are mostly concentrated in the cities (Urban population: 53%), especially in the capital city, according to the official sources population of Baku is more than 2.3 million.

Skilled and cost competitive labor force

As of 2021, 5.3 million people or 52% of the total population of Azerbaijan is economically active.


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  • Area

    86.1 sq km
  • Population

  • Avarage salary

    450 USD
  • Main ecenomical activities

    промышленность, туризм, сельское хозяйство
Bakı regional mərkəzi


2.6 min km2


461.5 min nəfər

Avarage salary

500 AZN

Main economical activities

Processing of agricultural produts,
carpet weaving