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Azerbaijan's high economic growth during 2006-08 was attributable to large and growing oil exports, but some non-export sectors also featured double-digit growth, spurred by growth in the construction, banking, and real estate sectors. In 2009, economic growth dropped back to around 3% as oil prices moderated and growth in the construction sector cooled. The current global economic slowdown presents some challenges for the Azerbaijani economy as oil prices remain below their mid-2008 highs, highlighting Azerbaijan's reliance on energy exports and lackluster attempts to diversify its economy. In 2009 the governmen...  More..

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Economy of Azerbaijan
SOURCE: CIA - The World Factbook
Currency Manat
Fiscal Year 01 January - 31 December
GDP (PPP) $86.03 billion (2009 est.)
GDP (per capita) $10,400 (2009 est.)
Exports $13.16 billion (2009 est.)
Imports $5.448 billion (2009 est.)
Main Industries Petroleum and Natural Gas, Petroleum Products, Oilfield Equipment; Steel, Iron Ore; Cement; Chemicals and Petrochemicals; Textiles
Exports - Commodities Oil and Gas 90%, Machinery, Cotton, Foodstuffs
Imports - Commodities Machinery and Equipment, Oil Products, Foodstuffs, Metals, Chemicals
Exports Partners Italy 40.2%, US 12.6%, Israel 7.6%, India 5.1%, France 4.9% (2008)
Imports Partners Russia 18.8%, Turkey 11.2%, Germany 8.3%, Ukraine 7.9%, China 6.7%, UK 5.4% (2008)

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