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Economy of Azerbaijan vs Guatemala compared: GDP & Debt

Updated on by Georank

Azerbaijan has a GDP of $75.9B compared to $123B for Guatemala, ranking 87/197 and 67/197 by economy size, respectively.

Azerbaijan has $15.3B in government debt (20.1% of GDP), compared to $33.5B (27.2% of GDP) in Guatemala.

Azerbaijan vs Guatemala GDP by year

Azerbaijan
Guatemala
1x
Year GDP, current $
Azerbaijan Guatemala
2025 $75,937,647,059 $123,306,008,821
2024 $74,426,000,000 $113,215,575,151
2023 $72,428,470,588 $104,298,081,429
2022 $78,807,470,588 $95,609,727,056
2021 $54,825,411,765 $86,455,522,273
2020 $42,693,000,000 $77,719,468,248
2019 $48,174,235,294 $77,172,331,693
2018 $47,112,470,052 $73,328,356,008
2017 $40,866,627,352 $71,653,780,740
2016 $37,866,996,883 $66,053,408,206
2015 $53,076,235,355 $62,186,066,548
2014 $75,239,785,452 $57,852,159,008
2013 $74,160,560,124 $52,996,420,177
2012 $69,679,944,504 $49,593,929,487
2011 $65,952,796,428 $46,876,006,272
2010 $52,909,294,792 $40,676,578,423
2009 $44,292,427,185 $37,126,148,265
2008 $48,851,293,785 $38,503,720,224
2007 $33,049,419,431 $33,567,850,824
2006 $20,981,929,498 $29,744,246,827
2005 $13,245,421,881 $26,783,389,294
2004 $8,680,405,741 $23,577,298,095
2003 $7,276,413,079 $21,576,351,799
2002 $6,236,087,738 $20,444,205,991
2001 $5,707,616,204 $18,405,220,247
2000 $5,272,615,723 $19,288,929,030
1999 $4,581,248,567 $18,318,412,251
1998 $4,446,368,571 $19,395,491,993
1997 $3,962,362,387 $17,790,026,222
1996 $3,176,507,376 $15,674,835,615
1995 $2,417,331,193 $14,655,404,433
1994 $1,193,141,110 $12,983,233,311
1993 $1,570,392,598 $11,400,017,301
1992 $444,658,672 $10,440,781,588
1991 $5,344,000,000 $9,406,135,143
1990 $8,884,848,485 $7,650,196,845
1989 - $8,410,724,361
1988 - $7,841,602,824
1987 - $7,084,399,840
1986 - $7,231,963,516
1985 - $9,721,652,087
1984 - $9,470,000,100
1983 - $9,050,000,400
1982 - $8,716,999,700
1981 - $8,607,500,300
1980 - $7,878,700,000
1979 - $6,902,600,200
1978 - $6,070,600,200
1977 - $5,480,500,200
1976 - $4,365,300,200
1975 - $3,645,900,000
1974 - $3,161,499,900
1973 - $2,569,200,100
1972 - $2,101,300,000
1971 - $1,984,800,000
1970 - $1,904,000,000
1969 - $1,715,399,900
1968 - $1,610,500,000
1967 - $1,453,500,000
1966 - $1,390,700,000
1965 - $1,331,399,900
1964 - $1,299,099,900
1963 - $1,262,800,000
1962 - $1,143,600,000
1961 - $1,076,699,900
1960 - $1,043,599,900

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Azerbaijan vs Guatemala by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Guatemala
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Guatemala
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,411 - $6,598 -
2024 $7,295 $25,089 $6,151 $14,369
2023 $7,133 $23,652 $5,754 $13,745
2022 $7,771 $22,552 $5,357 $13,014
2021 $5,408 $20,111 $4,913 $11,825
2020 $4,230 $15,164 $4,478 $10,947
2019 $4,806 $16,675 $4,512 $10,756
2018 $4,740 $15,283 $4,353 $9,947
2017 $4,147 $14,316 $4,325 $9,560
2016 $3,881 $14,536 $4,060 $9,201
2015 $5,501 $15,075 $3,894 $8,934
2014 $7,891 $17,564 $3,689 $8,237
2013 $7,875 $17,268 $3,444 $7,700
2012 $7,496 $15,994 $3,287 $7,258
2011 $7,190 $14,805 $3,169 $6,784
2010 $5,844 $14,930 $2,805 $6,510
2009 $4,950 $14,246 $2,612 $6,377
2008 $5,574 $13,217 $2,763 $6,435
2007 $3,851 $11,974 $2,459 $6,238
2006 $2,473 $9,398 $2,225 $5,833
2005 $1,578 $6,855 $2,046 $5,486
2004 $1,045 $5,248 $1,841 $5,263
2003 $884 $4,718 $1,723 $5,081
2002 $763 $4,230 $1,669 $4,969
2001 $704 $3,835 $1,538 $4,822
2000 $655 $3,439 $1,649 $4,715
1999 $574 $3,052 $1,604 $4,557
1998 $562 $2,827 $1,741 $4,437
1997 $506 $2,565 $1,638 $4,287
1996 $409 $2,407 $1,481 $4,143
1995 $315 $2,357 $1,421 $4,055
1994 $157.1 $2,648 $1,293 $3,886
1993 $209.5 $3,272 $1,166 $3,756
1992 $60.2 $4,220 $1,096 $3,626
1991 $735 $5,412 $1,014 $3,473
1990 $1,238 $5,343 $848 $3,330
1989 - - $958 -
1988 - - $919 -
1987 - - $854 -
1986 - - $896 -
1985 - - $1,238 -
1984 - - $1,241 -
1983 - - $1,220 -
1982 - - $1,204 -
1981 - - $1,216 -
1980 - - $1,142 -
1979 - - $1,026 -
1978 - - $925 -
1977 - - $856 -
1976 - - $697 -
1975 - - $595 -
1974 - - $529 -
1973 - - $441 -
1972 - - $370 -
1971 - - $358 -
1970 - - $353 -
1969 - - $326 -
1968 - - $315 -
1967 - - $291.9 -
1966 - - $287.3 -
1965 - - $283 -
1964 - - $284.2 -
1963 - - $284.4 -
1962 - - $265.2 -
1961 - - $257.2 -
1960 - - $256.8 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Azerbaijan's GDP per capita is $7,411, ranking 101/197, compared to $6,598 in Guatemala, ranking 108/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Guatemala ranks 116th at $14,369.

Economic indicators

Azerbaijan Guatemala
Gross domestic product
$75.9B
2025
$123B
2025
GDP rank
87/197
2025
67/197
2025
GDP growth
1.45%
2024-2025
4.28%
2024-2025
GDP per capita
$7,411
2025
$6,598
2025
GDP per capita rank
101/197
2025
108/197
2025
GDP per capita, PPP
$25,089
2024
$14,369
2024
GDP per capita PPP rank
82/197
2024
116/197
2024
Government debt
$15.3B
2025
$33.5B
2025
Debt-to-GDP ratio
20.1%
2025
27.2%
2025
Government debt per person
$1,492
2025
$1,793
2025
Government debt per person rank
131/185
2025
122/185
2025
Average annual personal income after taxes
$6,426
2026
$4,432
2026
Market capitalization of domestic companies
$1.57B
2025
n/a
Income share by richest 10%
24.2%
2005
34.1%
2023
Income share by poorest 10%
4.8%
2005
1.6%
2023
Government expenditure, % of GDP
34.6%
2025
14.7%
2025
Consumer prices inflation
5.62%
2024-2025
1.49%
2024-2025
Central bank interest rate
6.5%
2026
4%
2025
Unemployment rate
5.7%
2022
1.9%
2024
Population
10333222
19115361

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Guatemala
Spending

Debt
1x
Year % of GDP
Azerbaijan Guatemala
Government spending Government debt Government spending Government debt
2025 34.6% 20.1% 14.7% 27.2%
2024 33.9% 21.6% 13.4% 26.3%
2023 32.7% 21.8% 13.7% 27.2%
2022 26.2% 17.3% 14.3% 29%
2021 32.2% 26.3% 13.5% 30.6%
2020 40.2% 21.3% 15.6% 31.5%
2019 32.5% 17.7% 13.4% 26.4%
2018 33.2% 18.7% 13.2% 26.4%
2017 35.6% 22.5% 12.8% 25.1%
2016 35.4% 20.6% 12.6% 24.9%
2015 38.7% 18% 12.6% 24.8%
2014 36.4% 8.53% 13.6% 24.7%
2013 37.8% 6.18% 14% 25%
2012 36.6% 5.83% 14.2% 24.6%
2011 33.7% 4.97% 14.5% 23.8%
2010 32% 4.98% 14.5% 24%
2009 34.5% 4.73% 14.1% 22.8%
2008 31.4% 3.22% 13.3% 19.6%
2007 26.1% 4% 13.9% 20.8%
2006 25.3% 5.3% 14.2% 20.9%
2005 22.5% 6.85% 13.2% 20%
2004 24.2% 9.71% 12.9% 20.6%
2003 21.7% 10.7% 14.4% 19.8%
2002 23.1% 11.9% 13.1% 17.4%
2001 16.8% 13% 13.8% 19.1%
2000 18.2% 13.1% 13.6% 18%
1999 19.5% 25.4% 14.6% 22%
1998 18.7% 14.3% 13.2% 19%
1997 18.5% 11.4% 11.2% 18.5%
1996 19.8% 16.7% 9.85% 19.2%
1995 18.9% 19.2% 9.77% 21%
1994 14.7% 11.7% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1994–1999, retrieved 2026-07-08).

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

In 2025, Azerbaijan's government spending was $26.3B, accounting for 34.6% of its GDP, while Guatemala spent $18.2B, or 14.7% of GDP.

Debt-to-GDP ratio is 20.1% in Azerbaijan and 27.2% in Guatemala, ranking 174/185 and 163/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Guatemala
1x
Year Deficit/surplus, % of GDP
Azerbaijan Guatemala
2025 2.56% -1.91%
2024 4.05% -0.96%
2023 7.92% -1.25%
2022 5.96% -1.7%
2021 4.21% -1.16%
2020 -6.44% -4.91%
2019 8.95% -2.24%
2018 5.43% -1.88%
2017 -1.34% -1.38%
2016 -1.17% -1.11%
2015 -4.83% -1.47%
2014 2.74% -1.92%
2013 1.64% -2.16%
2012 3.71% -2.42%
2011 10.9% -2.8%
2010 13.8% -3.28%
2009 5.86% -3.12%
2008 17.2% -1.57%
2007 2.34% -1.4%
2006 0.66% -1.88%
2005 2.74% -1.67%
2004 1.78% -1.05%
2003 1.6% -2.47%
2002 19.4% -1.03%
2001 21.8% -2%
2000 0.14% -1.88%
1999 -1.03% -2.96%
1998 1.63% -2.29%
1997 -0.94% -0.79%
1996 -2.25% 0.04%
1995 -1.34% -0.53%
1994 3.21% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08).

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

In 2025, Azerbaijan's government surplus, the difference between spending and revenue, was $1.94B, equivalent to 2.56% of GDP. This compares to Guatemala's deficit of $2.36B, or 1.91% of GDP.

Over the past 31 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Guatemala ran a deficit in 30 years. On average, Azerbaijan posted an annual surplus equal to 4.12% of GDP, compared to deficit of 1.84% of GDP for Guatemala.

Inflation comparison by year

Inflation
Azerbaijan

Guatemala
1x
Year Consumer prices inflation
Azerbaijan Guatemala
2025 5.62% 1.49%
2024 2.21% 2.87%
2023 8.79% 6.21%
2022 13.9% 6.89%
2021 6.65% 4.26%
2020 2.76% 3.21%
2019 2.61% 3.7%
2018 2.27% 3.75%
2017 12.9% 4.42%
2016 12.4% 4.45%
2015 4.03% 2.39%
2014 1.37% 3.42%
2013 2.42% 4.34%
2012 1.07% 3.78%
2011 7.86% 6.21%
2010 5.73% 3.86%
2009 1.46% 1.86%
2008 20.8% 11.4%
2007 16.7% 6.82%
2006 8.33% 6.56%
2005 9.68% 9.11%
2004 6.71% 7.58%
2003 2.23% 5.6%
2002 2.77% 8.13%
2001 1.55% 7.29%
2000 1.81% 5.98%
1999 -8.53% 5.21%
1998 -0.77% 6.61%
1997 3.67% 9.23%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Azerbaijan has recorded an average annual inflation rate of 5.49%, compared with 5.4% in Guatemala. In 2025, inflation was 5.62% in Azerbaijan and 1.49% in Guatemala.

Top exports between countries

Azerbaijan
Export category Export value
Guatemala
Export category Export value
Raw agricultural goods $20K

Balance of trade

Azerbaijan Guatemala
Current account balance
$3.48B
2025
$3.27B
2024
Current account balance ranking
35/190
2025
36/190
2024
Current account balance, % of GDP
+4.58%
2025
+2.89%
2024
Goods imports
$17.7B
2025
$29.1B
2024
Goods exports
$24.1B
2025
$13.3B
2024
Service imports
$10.3B
2025
$6.45B
2024
Service exports
$8.6B
2025
$4.65B
2024
Imports of goods and services, % of GDP
36.8%
2025
31%
2025
Exports of goods and services, % of GDP
43%
2025
15.6%
2025

Economic freedom indices

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

Azerbaijan Guatemala
Economic freedom 64.3 63.5
Economic freedom ranking 74/197 79/197
Property rights 53.3 39.1
Government integrity 23.6 25.2
Judicial effectiveness 16.5 26.1
Tax burden 87.9 91.3
Government spending 71.3 94.3
Fiscal health 99.1 95.9
Business freedom 71.2 65.7
Labor freedom 56.9 52.5
Monetary freedom 76 77.3
Trade freedom 75.8 74.6
Investment freedom 70 70
Financial freedom 70 50

Economic freedom comparison by year

Azerbaijan
Guatemala
1x
Year Economic freedom index
Azerbaijan Guatemala
2026 64.3 63.5
2025 62.5 63.4
2024 61.6 62.4
2023 61.4 62.7
2022 61.6 63.2
2021 70.1 64
2020 69.3 64
2019 65.4 62.6
2018 64.3 63.4
2017 63.6 63
2016 60.2 61.8
2015 61 60.4
2014 61.3 61.2
2013 59.7 60
2012 58.9 60.9
2011 59.7 61.9
2010 58.8 61
2009 58 59.4
2008 55.3 59.8
2007 54.6 60.5
2006 53.2 59.1
2005 54.4 59.5
2004 53.4 59.6
2003 54.1 62.3
2002 53.3 62.3
2001 50.3 65.1
2000 49.8 64.3
1999 47.4 66.2
1998 43.1 65.8
1997 34 65.7
1996 30 63.7
1995 - 62

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 63.5 for Guatemala, ranking 79/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Guatemala
Services, % of GDP
45.3%
2025
62.1%
2025
Industry, % of GDP
39.5%
2025
21.8%
2025
Agriculture, forestry, and fishing, % of GDP
5.93%
2025
9.55%
2025
GNI, Atlas method
$75.4B
2025
$119B
2025
GNI per capita, PPP
$25,430
2025
$15,020
2025
Total reserves including gold
$13.6B
2025
$32.8B
2025
Total reserves ranking
74/177
2025
57/177
2025
Net foreign direct investment
$536M
2025
-$983M
2024
Net inflows of foreign direct investment
$231M
2024
$1.85B
2024
Net outflows of foreign direct investment
$742M
2024
$865M
2024
Servicing debt to the IMF, % of GNI
5.82%
2024
1.75%
2024
Poverty at national poverty lines
6%
2012
56%
2023
Gross capital formation, % of GDP
18.9%
2025
16.8%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1994–2025, retrieved 2026-07-08)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1994–1999, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. TradeMap (2020, retrieved 2026-07-08)

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.