Armenia vs Azerbaijan: Economic Indicators Comparison

Azerbaijan with a GDP of $46.9B ranked the 88th largest economy in the world, while Armenia ranked 136th with $12.4B. By GDP 5-years average growth and GDP per capita, Azerbaijan and Armenia ranked 164th vs 56th and 110th vs 115th, respectively.

Gross Domestic Product & Income

StatArmeniaAzerbaijan
GDP$12.4B$46.9B
GDP growth, 1 year5%1.4%
GDP growth, 5-years average3.9%0.4%
Population2.9M10M
GDP per capita$4.2k$4.7k
GDP per capita growth4.95%0.51%
Purchasing Power Parity conversion factor196.690.44
Price level ratio of PPP conversion factor GDP to market exchange rate0.410.26
GDP per capita, PPP adjusted$10k$18k
GNI, Atlas method$12.5B$40.3B
GNI per capita$4.2k$4.1k
GNI, PPP adjusted$30.9B$170B
GNI per capita, PPP adjusted$10k$17k

Financial system and Human development

StatArmeniaAzerbaijan
Income Tax Rate26%25%
Corporate Tax Rate20%20%
Inflation, consumer prices2.5%2.3%
Inflation, GDP deflator2.6%11.9%
Unemployment17.7%5.2%
Economic Freedom Index70.669.3
Personal Freedom Index7.216.73
Human Freedom Index7.426.44
Property Rights Index60.767.1
Judical Effectiveness Index54.153.9
Business Freedom Index8180.8
Fiscal Health Index68.899.2
Labor Freedom Index72.566.2
Investment Freedom Index7570
Financial Freedom Index7060
Trade Freedom Index80.674.6
Monetary Freedom Index7669.8
Government Spending Index80.663
Tax Burden Index84.988
Government Integrity Index43.438.7
Corruption Perceptions Index3525
Life expectancy at birth, years74.872.7
Suicide mortality rate, per 100,000 people6.62.6
Mortality caused by road traffic injury, per 100,000 people17.18.7
Intentional homicides, per 100,000 people2.42
International tourism, number of arrivals1.7M2.6M

Government debt & reserves

StatArmeniaAzerbaijan
Central government debt, % of GDP48.5%19.4%
External debt stocks, % of GNI87.5%36.4%
External debt stocks$11B$16.2B
Short-term debt, % of total reserves50.2%8.5%
Total debt service, % of exports and primary income29.9%10.5%
Adjusted net savings including particulate emission damage, % of GNI1.5%9.5%
Gross savings, % of GDP13.6%33%
Gross capital formation, % of GDP22.4%20.1%
Total reserves including gold$2.3B$6.7B
Foreign direct investment net inflows$254.1M$1.4B

Exports, imports and economic structure

StatArmeniaAzerbaijan
Exports of goods and services, % of GDP37.8%54.3%
Imports of goods and services, % of GDP53.5%37.7%
Current account balance (balance of payments)-$1.2B$6.1B
Revenue excluding grants, % of GDP22.5%35.1%
Grants excluding technical cooperation, BoP$111.9M$45.7M
Personal remittances received$1.5B$1.2B
Industry including construction value added, % of GDP25%52.2%
Agriculture, forestry and fishing value added, % of GDP13.7%5.3%
Charges for the use of intellectual property, payments BoPN/A$28.2M
Charges for the use of intellectual property, receipts BoPN/A$28k
Expense, % of GDP22.1%28%
Government Expenditure, % of GDP25.4%35.1%

Compare with countries close by GDP per capita

Armenia vs

CountryGDP
per capita
Population
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M

Azerbaijan vs

CountryGDP
per capita
Population
South Africa
$6.4k
57.7M
Ecuador
$6.3k
16.6M
Belarus
$6.3k
9.41M
Fiji
$6.3k
906k
Suriname
$6.2k
563k
North Macedonia
$6.1k
2.08M
Bosnia and Herzegovina
$6.1k
3.51M
Namibia
$5.9k
2.53M
Iraq
$5.8k
38.3M
Paraguay
$5.8k
6.81M
Iran
$5.6k
80M
Jamaica
$5.4k
2.89M
Albania
$5.3k
3.02M
Guyana
$5k
778k
Belize
$4.9k
375k
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Marshall Islands
$3.8k
53.1k
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M