The rank of Azerbaijan from the poorest is 59th with national average per capita income using atlas method is 810 $ in 2003. and in the measurement of CIA,WB, IMF in 2007, 2007, and 2008gdp nominal per capita
CIA... .........WB...............IMF
Rank/GDP....Rank Gdp ...Rank/gdp
94/3,632......83/3,646.....91/3,857
Azerbaijan is an economy that
has completed its post-Soviet transition into a major oil based economy (with
the completion of the
Baku-Tbilisi-Ceyhan Pipeline),
from one where the state played the major role. Azeri GDP grew 41.7% in the
first quarter of 2007, possibly the highest of any nation worldwide. Such rates cannot be
sustained, but despite reaching 26.4% in 2005 (second highest
GDP growth in the world in 2005
only to
Equatorial
Guinea), and 2006 over 34.6% (world highest), in 2008 dropped to 10.8%, and
dropped further to 9.3% in 2009.
[9] The real GDP growth
rate for 2011 was expected at 3.7% but had dropped to .1%.
[10] Large
oil reserves are a major contributor
to the economy. The national currency, the
Azerbaijani manat, was stable in 2000,
depreciating 3.8% against the dollar. The budget deficit equaled 1.3% of GDP in
2000.
Progress on economic reform has generally lagged behind
macroeconomic stabilization.
The government has undertaken regulatory reforms in some areas, including
substantial opening of trade policy, but inefficient public administration in
which commercial and regulatory interests are co-mingled limit the impact of
these reforms. The government has largely completed
privatization of agricultural lands and small and
medium-sized enterprises. In August 2000, the government launched a second-stage
privatization program, in which many large state enterprises will be privatized.
Since 2001, the economic activity in the country is regulated by the
Ministry of Economic
Development of Azerbaijan Republic.
