The skyline in Azerbaijan

Azerbaijan GDP

Azerbaijan GDP

Economic Growth in Azerbaijan

The Azerbaijani economy recorded an average real GDP growth rate of 1.7% in the decade up to 2022, below the 2.5% average for Eastern Europe. In 2022, real GDP growth was 4.6%. For more GDP information, visit our dedicated page.

Azerbaijan GDP Chart

Note: This chart displays Economic Growth (GDP, annual variation in %) for Azerbaijan from 2014 to 2023.
Source: National Bank of Azerbaijan.

Azerbaijan GDP Data

2018 2019 2020 2021 2022
Economic Growth (GDP, ann. var. %) 1.4 2.5 -4.2 5.6 4.6
GDP (USD bn) 46.9 48.1 42.6 54.6 78.7
GDP (EUR bn) 39.7 43.0 37.5 46.2 74.7
GDP (AZN bn) 79.8 81.7 72.4 92.9 133.8
Economic Growth (Nominal GDP, ann. var. %) 13.8 2.4 -11.3 28.2 44.1
Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Azerbaijani GDP projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP forecast available for Azerbaijani GDP.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Azerbaijani GDP projections.

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