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Economy of Azerbaijan vs Malta compared: GDP & Debt

Updated on by Georank

Azerbaijan has a GDP of $75.9B compared to $27.8B for Malta, ranking 87/197 and 118/197 by economy size, respectively.

Azerbaijan has $15.3B in government debt (20.1% of GDP), compared to $13B (46.8% of GDP) in Malta.

Azerbaijan vs Malta GDP by year

Azerbaijan
Malta
1x
Year GDP, current $
Azerbaijan Malta
2025 $75,937,647,059 $27,771,821,561
2024 $74,426,000,000 $25,042,712,191
2023 $72,428,470,588 $22,625,329,776
2022 $78,807,470,588 $18,938,869,147
2021 $54,825,411,765 $19,730,119,031
2020 $42,693,000,000 $16,404,655,808
2019 $48,174,235,294 $16,337,788,881
2018 $47,112,470,052 $16,153,785,817
2017 $40,866,627,352 $14,161,374,599
2016 $37,866,996,883 $12,025,777,078
2015 $53,076,235,355 $11,340,789,706
2014 $75,239,785,452 $11,888,029,752
2013 $74,160,560,124 $10,796,780,874
2012 $69,679,944,504 $9,609,530,619
2011 $65,952,796,428 $9,789,363,086
2010 $52,909,294,792 $9,097,044,301
2009 $44,292,427,185 $8,769,897,418
2008 $48,851,293,785 $9,172,399,573
2007 $33,049,419,431 $7,908,412,374
2006 $20,981,929,498 $6,749,838,862
2005 $13,245,421,881 $6,393,234,965
2004 $8,680,405,741 $6,104,141,501
2003 $7,276,413,079 $5,418,315,225
2002 $6,236,087,738 $4,455,127,398
2001 $5,707,616,204 $4,070,867,153
2000 $5,272,615,723 $4,036,809,767
1999 $4,581,248,567 $4,111,857,836
1998 $4,446,368,571 $4,010,111,652
1997 $3,962,362,387 $3,787,023,655
1996 $3,176,507,376 $3,822,547,151
1995 $2,417,331,193 $3,709,396,089
1994 $1,193,141,110 $2,998,505,428
1993 $1,570,392,598 $2,709,193,538
1992 $444,658,672 $3,021,942,759
1991 $5,344,000,000 $2,750,216,747
1990 $8,884,848,485 $2,547,328,748
1989 - $2,118,655,677
1988 - $2,019,503,068
1987 - $1,751,293,461
1986 - $1,435,038,441
1985 - $1,117,797,439
1984 - $1,101,807,023
1983 - $1,165,729,707
1982 - $1,234,474,404
1981 - $1,243,509,394
1980 - $1,250,198,601
1979 - $1,001,288,847
1978 - $793,673,402
1977 - $625,563,171
1976 - $527,936,989
1975 - $474,618,321
1974 - $376,081,124
1973 - $345,616,106
1972 - $295,106,628
1971 - $264,578,485
1970 - $250,728,796

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

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

GDP per capita in Azerbaijan vs Malta by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Malta
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Malta
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,411 - $47,907 -
2024 $7,295 $25,089 $44,024 $69,864
2023 $7,133 $23,652 $40,933 $67,057
2022 $7,771 $22,552 $35,659 $60,589
2021 $5,408 $20,111 $38,078 $56,852
2020 $4,230 $15,164 $31,823 $49,972
2019 $4,806 $16,675 $32,422 $51,393
2018 $4,740 $15,283 $33,382 $48,178
2017 $4,147 $14,316 $30,317 $45,764
2016 $3,881 $14,536 $26,459 $41,000
2015 $5,501 $15,075 $25,530 $38,369
2014 $7,891 $17,564 $27,425 $35,206
2013 $7,875 $17,268 $25,416 $33,138
2012 $7,496 $15,994 $22,878 $30,716
2011 $7,190 $14,805 $23,517 $29,426
2010 $5,844 $14,930 $21,947 $28,909
2009 $4,950 $14,246 $21,262 $26,782
2008 $5,574 $13,217 $22,406 $26,654
2007 $3,851 $11,974 $19,444 $25,012
2006 $2,473 $9,398 $16,654 $23,219
2005 $1,578 $6,855 $15,831 $22,227
2004 $1,045 $5,248 $15,212 $21,566
2003 $884 $4,718 $13,594 $20,813
2002 $763 $4,230 $11,251 $19,532
2001 $704 $3,835 $10,358 $18,435
2000 $655 $3,439 $10,348 $18,214
1999 $574 $3,052 $10,609 $16,898
1998 $562 $2,827 $10,408 $16,219
1997 $506 $2,565 $9,893 $15,465
1996 $409 $2,407 $10,062 $14,661
1995 $315 $2,357 $9,828 $13,950
1994 $157.1 $2,648 $8,000 $12,938
1993 $209.5 $3,272 $7,296 $12,103
1992 $60.2 $4,220 $8,220 $11,429
1991 $735 $5,412 $7,559 $10,784
1990 $1,238 $5,343 $7,192 $10,086
1989 - - $6,041 -
1988 - - $5,814 -
1987 - - $5,084 -
1986 - - $4,195 -
1985 - - $3,322 -
1984 - - $3,333 -
1983 - - $3,527 -
1982 - - $3,788 -
1981 - - $3,898 -
1980 - - $3,948 -
1979 - - $3,196 -
1978 - - $2,559 -
1977 - - $2,038 -
1976 - - $1,727 -
1975 - - $1,560 -
1974 - - $1,245 -
1973 - - $1,144 -
1972 - - $976 -
1971 - - $874 -
1970 - - $828 -

Data sources: World Bank | Economy & Growth (1970–2025, retrieved 2026-07-08).

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

Azerbaijan's GDP per capita is $7,411, ranking 101/197, compared to $47,907 in Malta, ranking 28/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Malta ranks 25th at $69,864.

Economic indicators

Azerbaijan Malta
Gross domestic product
$75.9B
2025
$27.8B
2025
GDP rank
87/197
2025
118/197
2025
GDP growth
1.45%
2024-2025
3.96%
2024-2025
GDP per capita
$7,411
2025
$47,907
2025
GDP per capita rank
101/197
2025
28/197
2025
GDP per capita, PPP
$25,089
2024
$69,864
2024
GDP per capita PPP rank
82/197
2024
25/197
2024
Government debt
$15.3B
2025
$13B
2025
Debt-to-GDP ratio
20.1%
2025
46.8%
2025
Government debt per person
$1,492
2025
$22,407
2025
Government debt per person rank
131/185
2025
30/185
2025
Average annual personal income after taxes
$6,426
2026
$22,914
2026
Market capitalization of domestic companies
$1.57B
2025
$5.35B
2025
Income share by richest 10%
24.2%
2005
24.7%
2023
Income share by poorest 10%
4.8%
2005
2.8%
2023
Government expenditure, % of GDP
34.6%
2025
37%
2025
Consumer prices inflation
5.62%
2024-2025
2.36%
2024-2025
Central bank interest rate
6.5%
2026
n/a
Unemployment rate
5.7%
2022
3.1%
2025
Population
10333222
586345

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Malta
Spending

Debt
1x
Year % of GDP
Azerbaijan Malta
Government spending Government debt Government spending Government debt
2025 34.6% 20.1% 37% 46.8%
2024 33.9% 21.6% 37.4% 46%
2023 32.7% 21.8% 35.8% 46.8%
2022 26.2% 17.3% 38.4% 50.1%
2021 32.2% 26.3% 39.5% 49.6%
2020 40.2% 21.3% 42.1% 48.6%
2019 32.5% 17.7% 34.9% 39.2%
2018 33.2% 18.7% 34.5% 41.4%
2017 35.6% 22.5% 32.7% 45.6%
2016 35.4% 20.6% 35.5% 53.1%
2015 38.7% 18% 37.8% 55%
2014 36.4% 8.53% 39.6% 60.7%
2013 37.8% 6.18% 40.1% 64.9%
2012 36.6% 5.83% 41.7% 65.6%
2011 33.7% 4.97% 41.5% 68.9%
2010 32% 4.98% 40.1% 65%
2009 34.5% 4.73% 41.1% 66%
2008 31.4% 3.22% 42.1% 61.5%
2007 26.1% 4% 41.2% 62%
2006 25.3% 5.3% 42.5% 64.5%
2005 22.5% 6.85% 42.5% 70.2%
2004 24.2% 9.71% 42% 70.4%
2003 21.7% 10.7% 45.6% 68.6%
2002 23.1% 11.9% 43.6% 65.1%
2001 16.8% 13% 44.4% 70%
2000 18.2% 13.1% 42.9% 64.4%
1999 19.5% 25.4% - 69.8%
1998 18.7% 14.3% - 66.4%
1997 18.5% 11.4% - 60.8%
1996 19.8% 16.7% - 51.5%
1995 18.9% 19.2% - 45.3%
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, retrieved 2026-07-08).

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

In 2025, Azerbaijan's government spending was $26.3B, accounting for 34.6% of its GDP, while Malta spent $10.3B, or 37% of GDP.

Debt-to-GDP ratio is 20.1% in Azerbaijan and 46.8% in Malta, ranking 174/185 and 113/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Malta
1x
Year Deficit/surplus, % of GDP
Azerbaijan Malta
2025 2.56% -3.1%
2024 4.05% -3.51%
2023 7.92% -4.43%
2022 5.96% -5.33%
2021 4.21% -6.96%
2020 -6.44% -8.71%
2019 8.95% 0.72%
2018 5.43% 1.86%
2017 -1.34% 3.4%
2016 -1.17% 1.1%
2015 -4.83% -0.84%
2014 2.74% -1.49%
2013 1.64% -2.19%
2012 3.71% -3.31%
2011 10.9% -2.99%
2010 13.8% -2.22%
2009 5.86% -3.11%
2008 17.2% -4.06%
2007 2.34% -2.05%
2006 0.66% -2.46%
2005 2.74% -2.83%
2004 1.78% -4.28%
2003 1.6% -9.04%
2002 19.4% -5.62%
2001 21.8% -6.5%
2000 0.14% -5.83%
1999 -1.03% -
1998 1.63% -
1997 -0.94% -
1996 -2.25% -
1995 -1.34% -
1994 3.21% -

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

GeoRank.org/economy/azerbaijan/malta | 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 Malta's deficit of $861M, or 3.1% of GDP.

Over the past 26 years, Azerbaijan recorded a fiscal deficit in 4 of those years, while Malta ran a deficit in 22 years. On average, Azerbaijan posted an annual surplus equal to 5.06% of GDP, compared to deficit of 3.22% of GDP for Malta.

Inflation comparison by year

Inflation
Azerbaijan

Malta
1x
Year Consumer prices inflation
Azerbaijan Malta
2025 5.62% 2.36%
2024 2.21% 1.65%
2023 8.79% 5.09%
2022 13.9% 6.15%
2021 6.65% 1.5%
2020 2.76% 0.64%
2019 2.61% 1.64%
2018 2.27% 1.16%
2017 12.9% 1.36%
2016 12.4% 0.64%
2015 4.03% 1.1%
2014 1.37% 0.31%
2013 2.42% 1.18%
2012 1.07% 2.38%
2011 7.86% 2.96%
2010 5.73% 1.52%
2009 1.46% 2.08%
2008 20.8% 4.26%
2007 16.7% 1.25%
2006 8.33% 2.77%
2005 9.68% 3.01%
2004 6.71% 2.79%
2003 2.23% 1.3%
2002 2.77% 2.19%
2001 1.55% 2.93%
2000 1.81% 2.37%
1999 -8.53% 2.13%
1998 -0.77% 2.39%
1997 3.67% 3.11%

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

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

Over the past 29 years, Azerbaijan has recorded an average annual inflation rate of 5.49%, compared with 2.22% in Malta. In 2025, inflation was 5.62% in Azerbaijan and 2.36% in Malta.

Top exports between countries

Azerbaijan
Export category Export value
Chemicals & pharma $5.17M
Raw materials & minerals $4.78M
Machinery & equipment $85K
Metals $20K
Textiles & consumer goods $2K
Malta
Export category Export value
Chemicals & pharma $65K
Textiles & consumer goods $5K
Machinery & equipment $4K
Wood & paper products $3K

Balance of trade

Azerbaijan Malta
Current account balance
$3.48B
2025
$1.78B
2024
Current account balance ranking
35/190
2025
45/190
2024
Current account balance, % of GDP
+4.58%
2025
+7.1%
2024
Goods imports
$17.7B
2025
$7.56B
2024
Goods exports
$24.1B
2025
$4.58B
2024
Service imports
$10.3B
2025
$17.4B
2024
Service exports
$8.6B
2025
$25B
2024
Imports of goods and services, % of GDP
36.8%
2025
99.9%
2025
Exports of goods and services, % of GDP
43%
2025
119.1%
2025

Economic freedom indices

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

Azerbaijan Malta
Economic freedom 64.3 68.2
Economic freedom ranking 74/197 49/197
Property rights 53.3 85.5
Government integrity 23.6 54.3
Judicial effectiveness 16.5 80.2
Tax burden 87.9 68.5
Government spending 71.3 58.4
Fiscal health 99.1 63.2
Business freedom 71.2 83.2
Labor freedom 56.9 62.6
Monetary freedom 76 73.1
Trade freedom 75.8 79.4
Investment freedom 70 60
Financial freedom 70 50

Economic freedom comparison by year

Azerbaijan
Malta
1x
Year Economic freedom index
Azerbaijan Malta
2026 64.3 68.2
2025 62.5 66.8
2024 61.6 64.5
2023 61.4 67.5
2022 61.6 71.5
2021 70.1 70.2
2020 69.3 69.5
2019 65.4 68.6
2018 64.3 68.5
2017 63.6 67.7
2016 60.2 66.7
2015 61 66.5
2014 61.3 66.4
2013 59.7 67.5
2012 58.9 67
2011 59.7 65.7
2010 58.8 67.2
2009 58 66.1
2008 55.3 66
2007 54.6 66.1
2006 53.2 67.3
2005 54.4 68.9
2004 53.4 63.3
2003 54.1 61.1
2002 53.3 62.2
2001 50.3 62.9
2000 49.8 58.3
1999 47.4 59.3
1998 43.1 61.2
1997 34 57.9
1996 30 55.8
1995 - 56.3

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

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 68.2 for Malta, ranking 49/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Malta
Services, % of GDP
45.3%
2025
81.3%
2025
Industry, % of GDP
39.5%
2025
10.1%
2025
Agriculture, forestry, and fishing, % of GDP
5.93%
2025
0.47%
2025
GNI, Atlas method
$75.4B
2025
$24B
2025
GNI per capita, PPP
$25,430
2025
$64,900
2025
Total reserves including gold
$13.6B
2025
$1.54B
2025
Total reserves ranking
74/177
2025
134/177
2025
Net foreign direct investment
$536M
2025
-$6.13B
2024
Net inflows of foreign direct investment
$231M
2024
$42.6B
2024
Net outflows of foreign direct investment
$742M
2024
$36.5B
2024
Servicing debt to the IMF, % of GNI
5.82%
2024
n/a
Poverty at national poverty lines
6%
2012
16.7%
2021
Gross capital formation, % of GDP
18.9%
2025
18.7%
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/malta | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2025, 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. TradeMap (2020–2025, retrieved 2026-07-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  7. LivingCost (2026, retrieved 2026-07-08)
  8. International Monetary Fund (IMF) | Public Finances in Modern History (1994, 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.