Asian Development Bank and Azerbaijan: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on the Azerbaijan as well as concise information on ADB's operations in the country and contact information. For the fourth consecutive year, Azerbaijan’s economy was among the fastest-growing economies in the world in 2008; however, growth declined to 10.8% from 25.4% in 2007, and 33.4% in 2006. The contribution of net exports, fueled by expansion of hydrocarbon exports, was the major driver of growth. Azerbaijan emerged as one of the world’s top reformers in streamlining business regulation in 2008, 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-up and a unified property registry, and greater protection for minority shareholders.