Economic Overview
- Azerbaijan has been known as the third largest oil producer among the former soviet republics.
- It has been characterized as one of the oldest oil producing region in throughout the world.
- Cotton, natural gas and agriculture products have been seen as the substantial sectors which are contributing majority in nation's GDP.
- The World Bank has identified azerbaijan as the 10 reformer.
International Trade
Major Export Items
oil and gas, machinery, cotton, foodstuffs
Main Destinations of Exports
Italy, France, USA, Germany, UK
Major Import Items
machinery and equipment, oil products, foodstuffs, metals, chemicals
Main Origins of Imports
Russia, Turkey, Germany,UK, China, Turkmenistan,
Ukraine