Republic of Azerbaijan
IsDB Membership: Azerbaijan joined IsDB on 4 July 1992. Its share of subscribed capital is ID50.9 million (0.1%) as of 31 December 2017.
Geographical & Demographic Profile: Azerbaijan is located in Caucasia with neighboring border countries of Georgia, Iran, Russia, Turkey and Armenia. It covers a territory of 86.600 km2 with a population of 9.9 million.
Azerbaijan regained its independence in 1991 after over 70 years under communist rule of USSR. Despite a 1994 cease-fire, Azerbaijan has yet to resolve its conflict with Armenia. The Karabakh region (roughly 18% of total territory) remains under the occupation of Armenia, while Azerbaijan must support more than 1 million internally displaced people (IDP) as a result of the conflict.
Structure of Economy & Income Level: Industry constitutes 50%, services 38% and Agriculture 6% of Azerbaijan's economy (WDI). Azerbaijan's main exports are petroleum and gas products which constituted 96% of total exports in 2016 (State Statistical Committee of Azerbaijan). Azerbaijan is an upper-middle income country with per capita income of US$7,039 (IMF-WEO April 2018).
Competitiveness & Credit Rating: Azerbaijan is the 35th most competitive country in the World Economic Forum's Global Competitiveness Report 2017-2018. Azerbaijan ranks 57th among 190 in the World Bank's Ease of Doing Business rankings. The sovereign credit of Azerbaijan has the following ratings: Standard and Poor's BB+, Moody's Ba2 and Fitch BB+.
Human Development: Azerbaijan has made enormous gains in poverty reduction, cutting the poverty rate from 15.8% in 2007 to 6% in 2012 in terms of national poverty line (The World Bank). The Gini Index is relatively low at 16.6 (2005; The World Bank). Azerbaijan is ranked 78th in UNDP Human Development Report (2016: http://hdr.undp.org/en/countries/profiles/AZE). Azerbaijan's life expectancy at birth has increased from 64.9 years in 1990 to 71.2 years in 2017. The under 5 mortality rate is 30.9 per 1000 live births, while the maternal mortality rate is 25 per 100,000 live births (WDI). Azerbaijan's mean years of schooling have increased from 10.2 in 1995 to 11.2 in 2015 (UNDP).