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Key Economic Data 
  2003 2002 2001 Ranking(2003)
Millions of US $ 7,124 6,090 5,600 102
GNI per capita
 US $ 810 710 650 146
Ranking is given out of 208 nations - (data from the World Bank)

Books on Azerbaijan


Update No: 353 - (25/05/10)

A looming deal
Azerbaijan and Turkey are incredibly important partners in the Turkic-speaking world. Amongst other things, they sit astride the junction of the Caucasus and the Middle East, the natural conduit of oil and gas from east to west.
Their leaders have said that they will sign a deal on Azerbaijani natural gas exports to Turkey during President Ilham Aliyev's visit to Ankara on June 7-8, a crucial event on the Middle Eastern calendar.

Azerbaijani officials said earlier the agreement regulating the amount and price of the exports would be signed in mid-May during Turkish Prime Minister Recep Tayyip Erdogan's visit to Baku. At a press conference with Erdogan following their talks, indeed, Aliyev said the agreement is ready to be signed.

Wider issues also to the fore
Erdogan said the two leaders also agreed on establishing a Strategic Partnership Council. He added that it will also be signed when Aliyev visits Ankara.

Erdogan said Aliyev updated him on the state of the Nagorno-Karabakh peace process. Aliyev said Azerbaijan has accepted -- with minor exceptions -- the updated peace proposal from the Organization for Security and Cooperation in Europe's Minsk Group, and expects Armenia to do the same.

He said if Armenia withdraws from the Azerbaijani territory that it occupies, then Baku will open its border and establish relations with Armenia. During his one-day visit to Baku, Erdogan inaugurated a monument to Turkey's first president, Mustafa Kemal Ataturk.

Economy on the rebound
The economy is picking up at last, after suffering terribly in the world slump. GDP is growing 5.5% this year, including in the all-important non-oil sector.

The Azeris are perhaps going to have a new life.

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