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Economy of Azerbaijan vs Bangladesh compared: GDP & Debt

Updated on by Georank team

Azerbaijan has a GDP of $74.3B compared to $450B for Bangladesh, ranking 84/197 and 36/197 by economy size, respectively.

Azerbaijan has $16.1B in government debt (21.7% of GDP), compared to $184B (41% of GDP) in Bangladesh.

Azerbaijan vs Bangladesh GDP by year

Azerbaijan
Bangladesh
1x
Year GDP, current $
Azerbaijan Bangladesh
2024 $74,315,882,353 $450,119,432,069
2023 $72,428,470,588 $437,415,333,018
2022 $78,807,470,588 $460,131,689,083
2021 $54,825,411,765 $416,271,647,911
2020 $42,693,000,000 $373,979,442,362
2019 $48,174,235,294 $351,231,654,604
2018 $47,112,470,052 $321,362,752,442
2017 $40,866,627,352 $293,732,446,625
2016 $37,866,996,883 $265,224,515,675
2015 $53,076,235,355 $195,146,608,978
2014 $75,239,785,452 $172,886,611,654
2013 $74,160,560,124 $149,998,957,434
2012 $69,679,944,504 $133,310,747,603
2011 $65,952,796,428 $128,607,482,310
2010 $52,909,294,792 $115,275,540,051
2009 $44,292,427,185 $102,475,158,191
2008 $48,851,293,785 $91,636,997,371
2007 $33,049,419,431 $79,611,644,975
2006 $20,981,929,498 $71,795,736,172
2005 $13,245,421,881 $69,476,001,239
2004 $8,680,405,741 $65,108,544,250
2003 $7,276,413,079 $60,158,929,188
2002 $6,236,087,738 $54,724,081,491
2001 $5,707,616,204 $53,991,289,844
2000 $5,272,615,723 $53,369,787,319
1999 $4,581,248,567 $51,270,569,884
1998 $4,446,368,571 $49,984,559,471
1997 $3,962,362,387 $48,244,309,133
1996 $3,176,507,376 $46,438,484,108
1995 $2,417,331,193 $37,939,748,769
1994 $1,193,141,110 $33,768,660,883
1993 $1,570,392,598 $33,166,519,418
1992 $444,658,672 $31,708,874,594
1991 $5,344,000,000 $30,957,483,950
1990 $8,884,848,485 $31,598,340,778
1989 - $28,781,715,189
1988 - $26,579,005,558
1987 - $24,298,032,258
1986 - $21,774,033,333
1985 - $22,278,423,077
1984 - $18,920,840,000
1983 - $17,609,048,822
1982 - $18,525,399,202
1981 - $20,249,694,002
1980 - $18,138,049,096
1979 - $15,565,480,322
1978 - $13,281,767,143
1977 - $9,651,149,302
1976 - $10,117,113,333
1975 - $19,448,348,073
1974 - $12,512,460,520
1973 - $8,086,725,729
1972 - $6,288,245,867
1971 - $8,751,843,188
1970 - $8,992,722,167
1969 - $8,471,006,438
1968 - $7,483,685,771
1967 - $7,253,575,688
1966 - $6,439,687,854
1965 - $5,906,636,792
1964 - $5,386,054,833
1963 - $5,319,458,563
1962 - $5,081,413,542
1961 - $4,817,580,375
1960 - $4,274,894,083

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/azerbaijan/bangladesh | CC BY

GDP per capita in Azerbaijan vs Bangladesh by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Bangladesh
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Bangladesh
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,284 $25,089 $2,593 $9,647
2023 $7,133 $23,652 $2,551 $9,148
2022 $7,771 $22,552 $2,716 $8,451
2021 $5,408 $20,111 $2,483 $7,441
2020 $4,230 $15,164 $2,249 $6,641
2019 $4,806 $16,675 $2,130 $6,047
2018 $4,740 $15,283 $1,965 $5,490
2017 $4,147 $14,316 $1,811 $4,883
2016 $3,881 $14,536 $1,649 $4,579
2015 $5,501 $15,075 $1,224 $4,212
2014 $7,891 $17,564 $1,094 $3,973
2013 $7,875 $17,268 $958 $3,691
2012 $7,496 $15,994 $860 $3,434
2011 $7,190 $14,805 $837 $3,051
2010 $5,844 $14,930 $757 $2,834
2009 $4,950 $14,246 $679 $2,675
2008 $5,574 $13,217 $613 $2,555
2007 $3,851 $11,974 $538 $2,388
2006 $2,473 $9,398 $490 $2,195
2005 $1,578 $6,855 $480 $2,020
2004 $1,045 $5,248 $456 $1,862
2003 $884 $4,718 $427 $1,746
2002 $763 $4,230 $394 $1,659
2001 $704 $3,835 $395 $1,598
2000 $655 $3,439 $397 $1,512
1999 $574 $3,052 $388 $1,430
1998 $562 $2,827 $386 $1,373
1997 $506 $2,565 $379 $1,315
1996 $409 $2,407 $372 $1,261
1995 $315 $2,357 $309 $1,206
1994 $157.1 $2,648 $280.6 $1,145
1993 $209.5 $3,272 $280.8 $1,099
1992 $60.2 $4,220 $273.5 $1,045
1991 $735 $5,412 $272.1 $987
1990 $1,238 $5,343 $283.1 $941
1989 - - $263 -
1988 - - $247.9 -
1987 - - $231.5 -
1986 - - $212.1 -
1985 - - $222.2 -
1984 - - $193.4 -
1983 - - $184.7 -
1982 - - $199.6 -
1981 - - $224.2 -
1980 - - $206.1 -
1979 - - $181.1 -
1978 - - $158.3 -
1977 - - $117.9 -
1976 - - $126.7 -
1975 - - $249.8 -
1974 - - $165 -
1973 - - $109.7 -
1972 - - $87.8 -
1971 - - $124.5 -
1970 - - $130.2 -
1969 - - $125.9 -
1968 - - $114.4 -
1967 - - $114.2 -
1966 - - $104.4 -
1965 - - $98.6 -
1964 - - $92.6 -
1963 - - $94.1 -
1962 - - $92.6 -
1961 - - $90.4 -
1960 - - $82.5 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/azerbaijan/bangladesh | CC BY

Azerbaijan's GDP per capita is $7,284, ranking 101/197, compared to $2,593 in Bangladesh, ranking 146/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Bangladesh ranks 135th at $9,647.

Economic indicators

Azerbaijan Bangladesh
Gross domestic product
$74.3B
2024
$450B
2024
GDP rank
84/197
2024
36/197
2024
GDP growth
4.07%
2023-2024
4.22%
2023-2024
GDP per capita
$7,284
2024
$2,593
2024
GDP per capita rank
101/197
2024
146/197
2024
GDP per capita, PPP
$25,089
2024
$9,647
2024
GDP per capita PPP rank
82/197
2024
135/197
2024
Government debt
$16.1B
2024
$184B
2024
Debt-to-GDP ratio
21.7%
2024
41%
2024
Government debt per person
$1,579
2024
$1,063
2024
Government debt per person rank
128/185
2024
139/185
2024
Average annual personal income after taxes
$6,324
2026
$2,222
2026
Market capitalization of domestic companies
$1.64B
2024
$87.9B
2024
Income share by richest 10%
24.2%
2005
25.5%
2022
Income share by poorest 10%
4.8%
2005
3.7%
2022
Government expenditure, % of GDP
33.9%
2024
12%
2024
Consumer prices inflation
2.21%
2023-2024
9.7%
2023-2024
Central bank interest rate
7%
2025
10%
2024
Unemployment rate
5.65%
2022
3.64%
2024
Population
10338778
178415186

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Bangladesh
Spending

Debt
1x
Year % of GDP
Azerbaijan Bangladesh
Government spending Government debt Government spending Government debt
2024 33.9% 21.7% 12% 41%
2023 32.7% 21.8% 12.6% 39.7%
2022 26.2% 17.3% 13% 37.9%
2021 32.2% 26.3% 12.9% 35.6%
2020 40.2% 21.3% 13.3% 34.5%
2019 32.5% 17.7% 13.6% 32%
2018 33.2% 18.7% 13% 29.6%
2017 35.6% 22.5% 12.2% 28.3%
2016 35.4% 20.6% 11.6% 27.7%
2015 38.7% 18% 11.5% 28.2%
2014 36.4% 8.53% 11.7% 28.7%
2013 37.8% 6.18% 12.1% 28.3%
2012 36.6% 5.83% 11.7% 29.1%
2011 33.7% 4.97% 11.5% 29.4%
2010 32% 4.98% 10.6% 29.6%
2009 34.5% 4.73% 10.6% 33%
2008 31.4% 3.22% 11.5% 33.9%
2007 26.1% 4% 9.63% 35%
2006 25.3% 5.3% 10.1% 35.3%
2005 22.5% 6.85% 10.3% 35.6%
2004 24.2% 9.71% 9.88% 36.6%
2003 21.7% 10.7% 10.2% 37%
2002 23.1% 11.9% 10.4% 38.9%
2001 16.8% 13% 10.7% 37.1%
2000 18.2% 13.1% 9.76% 31.2%
1999 19.5% 25.4% 8.66% 32.7%
1998 18.7% 14.3% 9.82% 31.1%
1997 18.5% 11.4% 9.89% 29.1%
1996 19.8% 16.7% 9.79% 31%
1995 18.9% 19.2% 10.5% 32.9%
1994 14.7% 11.7% 10% 35.5%
1993 - - 9.74% 34.1%
1992 - - 8.8% 33.1%
1991 - - 8.86% 31.8%
1990 - - 9.14% 31.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1990–2002, retrieved 2026-02-20).

GeoRank.org/economy/azerbaijan/bangladesh | CC BY

In 2024, Azerbaijan's government spending was $25.2B, accounting for 33.9% of its GDP, while Bangladesh spent $54.2B, or 12% of GDP.

Debt-to-GDP ratio is 21.7% in Azerbaijan and 41% in Bangladesh, ranking 174/185 and 131/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Bangladesh
1x
Year Deficit/surplus, % of GDP
Azerbaijan Bangladesh
2024 4.06% -3.69%
2023 7.92% -4.39%
2022 5.96% -4.53%
2021 4.21% -3.56%
2020 -6.44% -4.84%
2019 8.95% -5.41%
2018 5.43% -4.07%
2017 -1.34% -4.17%
2016 -1.17% -3.16%
2015 -4.83% -3.29%
2014 2.74% -2.62%
2013 1.64% -2.86%
2012 3.71% -2.56%
2011 10.9% -2.96%
2010 13.8% -2.23%
2009 5.86% -2.68%
2008 17.2% -3.36%
2007 2.34% -1.86%
2006 0.66% -2.15%
2005 2.74% -2.4%
2004 1.78% -2.21%
2003 1.6% -1.96%
2002 19.4% -2.3%
2001 21.8% -3.44%
2000 0.14% -2.5%
1999 -1.03% -1.35%
1998 1.63% -2.2%
1997 -0.94% -1.94%
1996 -2.25% -2.01%
1995 -1.34% -0.38%
1994 3.21% 0.03%
1993 - 0.43%
1992 - 0.36%
1991 - 0.44%
1990 - -0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20).

GeoRank.org/economy/azerbaijan/bangladesh | CC BY

In 2024, Azerbaijan's government surplus, the difference between spending and revenue, was $3.01B, equivalent to 4.06% of GDP. This compares to Bangladesh's deficit of $16.6B, or 3.69% of GDP.

Over the past 31 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Bangladesh ran a deficit in 30 years. On average, Azerbaijan posted an annual surplus equal to 4.14% of GDP, compared to deficit of 2.81% of GDP for Bangladesh.

Inflation comparison by year

Inflation
Azerbaijan

Bangladesh
1x
Year Consumer prices inflation
Azerbaijan Bangladesh
2024 2.21% 9.7%
2023 8.79% 9%
2022 13.9% 6.1%
2021 6.65% 5.6%
2020 2.76% 5.6%
2019 2.61% 5.5%
2018 2.27% 5.8%
2017 12.9% 5.4%
2016 12.4% 5.9%
2015 4.03% 6.4%
2014 1.37% 7.3%
2013 2.42% 6.8%
2012 1.07% 8.9%
2011 7.86% 8.8%
2010 5.73% 7.3%
2009 1.46% 6.7%
2008 20.8% 9.9%
2007 16.7% 7.2%
2006 8.33% 7.2%
2005 9.68% 6.5%
2004 6.71% 8.1%
2003 2.23% 3.9%
2002 2.77% 2.4%
2001 1.55% 1.8%
2000 1.81% 3.6%
1999 -8.53% 8.9%
1998 -0.77% 6.7%
1997 3.67% 2.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/azerbaijan/bangladesh | CC BY

Over the past 28 years, Azerbaijan has recorded an average annual inflation rate of 5.48%, compared with 6.42% in Bangladesh. In 2024, inflation was 2.21% in Azerbaijan and 9.7% in Bangladesh.

Top exports between countries

Azerbaijan
Export category Export value
Textiles & consumer goods $3.16M
Processed food, beverages & tobacco $21K
Raw materials & minerals $12K
Bangladesh
Export category Export value
Processed food, beverages & tobacco $391K
Chemicals & pharma $61K
Machinery & equipment $39K
Textiles & consumer goods $32K
Miscellaneous $1K

Balance of trade

Azerbaijan Bangladesh
Current account balance
$4.67B
2024
$1.43B
2024
Current account balance ranking
34/190
2024
52/190
2024
Current account balance, % of GDP
+6.29%
2024
+0.32%
2024
Goods imports
$17.2B
2024
$63.8B
2024
Goods exports
$26B
2024
$47.3B
2024
Service imports
$10.2B
2024
$12.3B
2024
Service exports
$8.12B
2024
$7.47B
2024
Imports of goods and services, % of GDP
36.8%
2024
16.3%
2024
Exports of goods and services, % of GDP
45.9%
2024
10.5%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Azerbaijan Bangladesh
Economic freedom 64.3 54.8
Economic freedom ranking 74/197 131/197
Property rights 53.3 32.1
Government integrity 23.6 22.7
Judicial effectiveness 16.5 36.7
Tax burden 87.9 79.9
Government spending 71.3 95.3
Fiscal health 99.1 68.4
Business freedom 71.2 52.7
Labor freedom 56.9 50.5
Monetary freedom 76 65.8
Trade freedom 75.8 63
Investment freedom 70 50
Financial freedom 70 40

Economic freedom comparison by year

Azerbaijan
Bangladesh
1x
Year Economic freedom index
Azerbaijan Bangladesh
2026 64.3 54.8
2025 62.5 54.7
2024 61.6 54.4
2023 61.4 54.4
2022 61.6 52.7
2021 70.1 56.5
2020 69.3 56.4
2019 65.4 55.6
2018 64.3 55.1
2017 63.6 55
2016 60.2 53.3
2015 61 53.9
2014 61.3 54.1
2013 59.7 52.6
2012 58.9 53.2
2011 59.7 53
2010 58.8 51.1
2009 58 47.5
2008 55.3 44.2
2007 54.6 46.7
2006 53.2 52.9
2005 54.4 47.5
2004 53.4 50
2003 54.1 49.3
2002 53.3 51.9
2001 50.3 51.2
2000 49.8 48.9
1999 47.4 50
1998 43.1 52
1997 34 49.9
1996 30 51.1
1995 - 40.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/azerbaijan/bangladesh | CC BY

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 54.8 for Bangladesh, ranking 131/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Bangladesh
Services, % of GDP
42.3%
2024
51.4%
2024
Industry, % of GDP
42.6%
2024
34.1%
2024
Agriculture, forestry, and fishing, % of GDP
5.66%
2024
11.2%
2024
GNI, Atlas method
$74.8B
2024
$490B
2024
GNI per capita, PPP
$24,220
2024
$10,060
2024
Total reserves including gold
$12.7B
2024
$21.4B
2024
Total reserves ranking
72/177
2024
61/177
2024
Net foreign direct investment
$511M
2024
-$1.49B
2024
Net inflows of foreign direct investment
$231M
2024
$1.31B
2024
Net outflows of foreign direct investment
$742M
2024
$34.1M
2024
Servicing debt to the IMF, % of GNI
5.83%
2024
1.83%
2024
Poverty at national poverty lines
6%
2012
18.7%
2022
Gross capital formation, % of GDP
21.1%
2024
30.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/azerbaijan/bangladesh | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1990–2002, retrieved 2026-02-20)
  6. TradeMap (2015–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.