Asian Development Bank and Azerbaijan: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on Azerbaijan as well as concise information on ADB's operations in the country and contact information. Despite the worldwide global financial crisis and the fall in international oil prices from 2008 highs, Azerbaijan’s economy sustained a strong growth of 9.3% in 2009. With the oil and gas sector accounting for 55% of national gross domestic product, rising oil prices in the second half of 2009 and increased production of hydrocarbons from the Caspian Sea meant the sector remained the major driver of growth. Azerbaijan continued to be one of the world’s top reformers in streamlining business regulations in 2009, with seven out of 10 areas measured by the World Bank’s Doing Business Index showing improvement, including introduction of a one-stop shop for business start-ups, a unified property registry, and greater protection for minority shareholders.