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Economy of Azerbaijan

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Economy of Azerbaijan. Azerbaijan is an economy that has completed its post-Soviet transition into a major oil based economy (with the completion of the Baku-Tbilisi-Ceyhan Pipeline), from one where the state played the major role.

Economy of Azerbaijan

Azeri GDP grew 41.7% in the first quarter of 2007, possibly the highest of any nation worldwide.[14] Such rates cannot be sustained, but despite reaching 26.4% in 2005 (second highest GDP growth in the world in 2005 only to Equatorial Guinea), and 2006 over 34.6% (world highest), in 2008 dropped to 10.8%, and dropped further to 9.3% in 2009.[15] The real GDP growth rate for 2011 was expected at 3.7% but had dropped to .1%.[16] Large oil reserves are a major contributor to the economy. The national currency, the Azerbaijani manat, was stable in 2000, depreciating 3.8% against the dollar. The budget deficit equaled 1.3% of GDP in 2000.

Macro-economic trend[edit] For purchasing power parity comparisons, the US dollar was exchanged at 1,565.88 Manats only. Economy of Azerbaijan. Energy in Azerbaijan. Energy in Azerbaijan describes energy and electricity production, consumption and export in Azerbaijan.

Energy in Azerbaijan

Oil[edit] Production: - 931,990 bbl/d (148,175 m3/d) (2008)Consumption: - 160,000 bbl/d (25,000 m3/d) (2007) At the turn of the 20th century, Azerbaijan accounted for half of the world’s oil production[citation needed]. Oil wells have been operating in Baku since the 1840s. As of the early 21st century, almost all production came from off shore in the Caspian Sea. According to industry journals and government sources, proven oil reserves as of 2004 totaled between 7 billion and 13 billion barrels (2.1×10^9 m3). Energy in Azerbaijan. Petroleum industry in Azerbaijan. Onshore oil fields in Azerbaijan.

Petroleum industry in Azerbaijan

Offshore oil fields in Azerbaijan The petroleum industry in Azerbaijan produces about 800,000 barrels (130,000 m3) of oil per day (as of November 2011) and 1 billion cubic meters of gas per year. Azerbaijan is one of the birthplaces of the oil industry, its history is linked to the fortunes of petroleum. It is poised to become an important oil and gas producer once again. Agriculture in Azerbaijan.

The major crops for Agriculture in Azerbaijan are agricultural cash crops, grapes, cotton, tobacco, citrus fruits, and vegetables.

Agriculture in Azerbaijan

The first three crops account for over half of all production, and the last two together account for an additional 30 percent. Livestock, dairy products, and wine and spirits are also important farm products.[1] History[edit] In the early 1990s, Azerbaijan's agricultural sector required substantial restructuring if it was to realize its vast potential. Prices for agricultural products did not rise as fast as the cost of inputs; the Soviet-era collective farm system discouraged private initiative; equipment in general and the irrigation system in particular were outdated; modern technology had not been introduced widely; and administration of agricultural programs was ineffective.[1] Most of Azerbaijan's cultivated lands, which total over 1 million hectares, are irrigated by more than 40,000 kilometers of canals and pipelines.

Agriculture in Azerbaijan. Tourism in Azerbaijan. Tourism is a growing part of the economy of Azerbaijan.

Tourism in Azerbaijan

The country was a well-known tourist spot in the 1980s, but the Nagorno-Karabakh War during the 1990s crippled the tourist industry and negatively impacted the image of Azerbaijan as a tourist destination.[1] It was not until 2000s (decade) that the tourism industry began to recover, and the country has since experienced a high rate of growth in the number of tourist visits and overnight stays.[2] In recent years, Azerbaijan has also become a more popular destination for religious, spa, and health care tourism.[3] Historical monuments[edit] Walled City of Baku with the Shirvanshah's Palace and Maiden Tower[edit] The Azeri city of Baku has numerous historical and architectural monuments dating to various historical epochs.

The Walled City of Baku or Icheri Sheher hosts over 50 historical and architectural monuments from various eras. Tourism in Azerbaijan. Transport in Azerbaijan. Rail transport in Azerbaijan is operated by the national state-owned railway company Azerbaijan Railways (Azerbaijani: Azərbaycan Dəmir Yolları).

Transport in Azerbaijan

The railway network consists of 2,918 km (1,813 mi), its gauge is 1,520 mm (4 ft 11 27⁄32 in) (Russian broad gauge), 815 km (506 mi) are double track and 1,272 km (790 mi) are electrified at 3 kV (3,000 V) DC.[1] Transportation in Azerbaijan. Science and Technology in Azerbaijan. Telecommunications in Azerbaijan. Telephones[edit] Telephones - main lines in use: 1,254,000 (2011)[1]country comparison to the world: 64[1] Telephones - mobile cellular: 10,120,000 (2011)[1]country comparison to the world: 75[1] Cellular[edit] Radio[edit] Radio broadcast stations: ARAZ - FM 103.3Antenn - FM 101 MHzANS ChM - FM 102 MHzSpace - FM 104 MHzMedia FM - FM 105.5 MHzAzad Azerbaijan FM - FM 106 MHzLider - FM 107 MHzRadios: 175,000 (1997) Television[edit] Television broadcast stations: 7 (2005) 4 more ordered for 2006 and 2007 [1]Televisions: 170,000 (1997)

Telecommunications in Azerbaijan

Azerbaijan National Aerospace Agency. Azerbaijan National Aerospace Agency (ANASA; Azerbaijani: Azərbaycan Milli Aero Kosmik Agentliyi , is a governmental body that coordinates all Azerbaijani space research programs with scientific and commercial goals.

Azerbaijan National Aerospace Agency

It was established in 1992 in place of the Kaspiy scientific research center of the National Academy of Sciences of Azerbaijan and currently is headed by PhD Aflatun Hasanov.[1][2] Space Programme[edit] The Azerbaijani space programme is mostly carried out through international cooperation as during the Soviet era, a few Azerbaijani plants produced equipment for the Soviet Union’s space projects, but their facilities are now out-of-date.[3] The programme has included a sequence of satellite missions, both national ones and in cooperation with other nations. In 2009, Azerbaijani space industry boosted as new agency set up under the state program for development of space industry after Ilham Aliyev's approval.[4]