Azerbaijan

Azerbaijan is an industrial and agrarian state. Agricultural land is 4.6 million hectares, of which more than 1.8 million hectares are arable land, 2 million hectares are occupied by summer and winter pastures. Tomatoes, persimmons, grapes, pomegranates are grown in crop production.

Total energy reserves are estimated at 2,801 billion tons (in coal equivalent). Installed capacity – net of power plants - 7642 MW, including: thermal power plants burning organic fuel - 83.7%, renewable energy sources - 16.3%.

Industry includes mechanical engineering, metallurgy, chemical, food and other industries.

At the end of 2006, Azerbaijan's proven oil reserves totaled 7 billion. barrels. Gas production in Azerbaijan in 2007 amounted to 10.4 billion cubic meters.

Cast steel, fittings, steel pipes, raw aluminum, aluminum rods, shafts and profiles, copper stranded wires without electrical insulation, ropes and cables are produced in metallurgy.

Gold and silver mining is carried out in the mining industry.

There are over 100 chemical enterprises operating in the country today, 70-80% of which are owned by the state.

The production of construction materials is based on rich reserves of natural stone, limestone and is represented by the production of cement, bricks, facing slabs, window glass, etc.

The production of machinery and equipment accounts for approximately 1.5% of the country's GDP. Basically, the enterprises of this industry are focused on the production of oil equipment.

Railways are one of the main modes of transport in Azerbaijan, accounting for about 40% of cargo turnover and up to 25% of passenger turnover.

Azerbaijan exports oil, gas, refined petroleum products (including petroleum coke, petroleum bitumen), food products, non-food products of the non-oil sector, including raw materials (ferrous metals, non-ferrous metals (including aluminum), precious metals (gold), chemical industry products, including polypropylene.

In the structure of imports: food products, pharmaceutical products, furniture, metals, soap and detergents, glass and stone products, sugar, vegetables, grain, wood products, paper products, railway vehicles.

The volume of services in foreign trade in 2020 amounted to $8 billion. In the structure of services, 36.5% is occupied by transport services ($2.9 billion). Tourism — $ 715.9 million.

In 2020, the average annual inflation was 2.8%.