Country Information
Country Information provides a general overview of Azerbaijan and its economic situation as well as key facts about the country.
About Azerbaijan and impressions
About Azerbaijan
Azerbaijan is situated on the south-eastern part of the Caucasus, which stretches for more than 800 km from the Black to the Caspian Sea. Located at the crossroads of Europe and Asia, Azerbaijan has a great potential for transit, which is further enhanced by the well-developed road infrastructure. As a logistical hub of the region, Azerbaijan plays a significant role in the economic and cultural relations with the rest of the world.
The Oil & Gas sector is the core of Azerbaijan’s economy, accounting for 90,1 % of the country’s total exports in 2023. Currently, diversification of economy and promoting export potential are major goals of the government. The exports of non-oil products increased to 9.9% in 2023 compared to 2022.
The EU is the largest trade partner of Azerbaijan, with a 64,4 % share in the country’s total exports and a 17,4 % share in total imports (2023). Germany ranks the 5th place among Azerbaijan’s main trade partners, having a 3.6 % share in Azerbaijan’s total trade turnover (2023).1
Impressions
