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Economy of Azerbaijan vs Morocco compared: GDP & Debt

Updated on by Georank team

Azerbaijan has a GDP of $74.3B compared to $161B for Morocco, ranking 84/197 and 58/197 by economy size, respectively.

Azerbaijan has $16.1B in government debt (21.7% of GDP), compared to $109B (67.7% of GDP) in Morocco.

Azerbaijan vs Morocco GDP by year

Azerbaijan
Morocco
1x
Year GDP, current $
Azerbaijan Morocco
2024 $74,315,882,353 $160,610,994,055
2023 $72,428,470,588 $146,036,093,667
2022 $78,807,470,588 $131,245,312,804
2021 $54,825,411,765 $142,022,058,447
2020 $42,693,000,000 $121,353,645,057
2019 $48,174,235,294 $128,920,266,409
2018 $47,112,470,052 $127,341,147,582
2017 $40,866,627,352 $118,540,573,368
2016 $37,866,996,883 $111,572,947,005
2015 $53,076,235,355 $110,413,823,842
2014 $75,239,785,452 $119,130,841,412
2013 $74,160,560,124 $115,739,287,305
2012 $69,679,944,504 $106,937,392,311
2011 $65,952,796,428 $110,080,631,332
2010 $52,909,294,792 $100,865,329,473
2009 $44,292,427,185 $101,154,952,241
2008 $48,851,293,785 $101,822,906,949
2007 $33,049,419,431 $86,947,913,287
2006 $20,981,929,498 $75,883,823,301
2005 $13,245,421,881 $68,852,658,069
2004 $8,680,405,741 $66,114,145,451
2003 $7,276,413,079 $58,029,363,354
2002 $6,236,087,738 $47,077,192,188
2001 $5,707,616,204 $43,831,480,208
2000 $5,272,615,723 $43,017,455,402
1999 $4,581,248,567 $46,266,428,648
1998 $4,446,368,571 $46,497,608,725
1997 $3,962,362,387 $39,147,844,526
1996 $3,176,507,376 $43,161,571,528
1995 $2,417,331,193 $39,030,285,468
1994 $1,193,141,110 $35,604,137,423
1993 $1,570,392,598 $31,655,473,664
1992 $444,658,672 $33,711,069,431
1991 $5,344,000,000 $32,285,573,574
1990 $8,884,848,485 $30,179,954,775
1989 - $26,314,313,191
1988 - $25,705,296,184
1987 - $21,765,195,948
1986 - $19,462,085,540
1985 - $14,991,283,216
1984 - $14,824,667,954
1983 - $16,251,408,128
1982 - $17,692,276,734
1981 - $17,788,185,479
1980 - $21,728,516,153
1979 - $15,911,994,817
1978 - $13,236,946,234
1977 - $11,049,783,872
1976 - $9,584,297,284
1975 - $8,984,853,005
1974 - $7,675,466,449
1973 - $6,242,145,880
1972 - $5,074,117,545
1971 - $4,356,669,034
1970 - $3,956,336,244
1969 - $3,651,622,669
1968 - $3,271,422,333
1967 - $3,046,345,314
1966 - $2,876,401,297
1965 - $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

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

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

GDP per capita in Azerbaijan vs Morocco by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,284 $25,089 $4,218 $10,415
2023 $7,133 $23,652 $3,872 $9,895
2022 $7,771 $22,552 $3,516 $9,310
2021 $5,408 $20,111 $3,843 $8,623
2020 $4,230 $15,164 $3,317 $7,705
2019 $4,806 $16,675 $3,560 $8,046
2018 $4,740 $15,283 $3,553 $7,801
2017 $4,147 $14,316 $3,344 $8,115
2016 $3,881 $14,536 $3,186 $7,853
2015 $5,501 $15,075 $3,190 $7,799
2014 $7,891 $17,564 $3,483 $7,237
2013 $7,875 $17,268 $3,425 $7,542
2012 $7,496 $15,994 $3,206 $7,308
2011 $7,190 $14,805 $3,345 $7,274
2010 $5,844 $14,930 $3,107 $6,849
2009 $4,950 $14,246 $3,158 $6,629
2008 $5,574 $13,217 $3,222 $6,437
2007 $3,851 $11,974 $2,788 $6,058
2006 $2,473 $9,398 $2,466 $5,781
2005 $1,578 $6,855 $2,268 $5,275
2004 $1,045 $5,248 $2,207 $5,025
2003 $884 $4,718 $1,962 $4,741
2002 $763 $4,230 $1,612 $4,436
2001 $704 $3,835 $1,521 $4,269
2000 $655 $3,439 $1,513 $3,930
1999 $574 $3,052 $1,651 $3,801
1998 $562 $2,827 $1,683 $3,740
1997 $506 $2,565 $1,439 $3,502
1996 $409 $2,407 $1,610 $3,551
1995 $315 $2,357 $1,478 $3,152
1994 $157.1 $2,648 $1,369 $3,315
1993 $209.5 $3,272 $1,236 $2,979
1992 $60.2 $4,220 $1,337 $2,979
1991 $735 $5,412 $1,302 $3,025
1990 $1,238 $5,343 $1,238 $2,777
1989 - - $1,099 -
1988 - - $1,094 -
1987 - - $944 -
1986 - - $861 -
1985 - - $678 -
1984 - - $687 -
1983 - - $772 -
1982 - - $862 -
1981 - - $890 -
1980 - - $1,117 -
1979 - - $839 -
1978 - - $716 -
1977 - - $613 -
1976 - - $545 -
1975 - - $524 -
1974 - - $459 -
1973 - - $382 -
1972 - - $319 -
1971 - - $280.6 -
1970 - - $261.5 -
1969 - - $247.8 -
1968 - - $228 -
1967 - - $218.1 -
1966 - - $211.5 -
1965 - - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

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

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

Azerbaijan's GDP per capita is $7,284, ranking 101/197, compared to $4,218 in Morocco, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Morocco ranks 132nd at $10,415.

Economic indicators

Azerbaijan Morocco
Gross domestic product
$74.3B
2024
$161B
2024
GDP rank
84/197
2024
58/197
2024
GDP growth
4.07%
2023-2024
3.79%
2023-2024
GDP per capita
$7,284
2024
$4,218
2024
GDP per capita rank
101/197
2024
127/197
2024
GDP per capita, PPP
$25,089
2024
$10,415
2024
GDP per capita PPP rank
82/197
2024
132/197
2024
Government debt
$16.1B
2024
$109B
2024
Debt-to-GDP ratio
21.7%
2024
67.7%
2024
Government debt per person
$1,579
2024
$2,857
2024
Government debt per person rank
128/185
2024
104/185
2024
Average annual personal income after taxes
$6,324
2026
$5,678
2026
Market capitalization of domestic companies
$1.64B
2024
$74.5B
2024
Number of billionaires n/a
3
2025
Income share by richest 10%
24.2%
2005
31.9%
2013
Income share by poorest 10%
4.8%
2005
2.7%
2013
Government expenditure, % of GDP
33.9%
2024
33%
2024
Consumer prices inflation
2.21%
2023-2024
0.99%
2023-2024
Central bank interest rate
7%
2025
2.25%
2025
Unemployment rate
5.65%
2022
11.8%
2022
Population
10338778
38871720

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
Azerbaijan Morocco
Government spending Government debt Government spending Government debt
2024 33.9% 21.7% 33% 67.7%
2023 32.7% 21.8% 32% 68.7%
2022 26.2% 17.3% 33.7% 71.4%
2021 32.2% 26.3% 31% 69.4%
2020 40.2% 21.3% 34.1% 72.2%
2019 32.5% 17.7% 27.6% 60.3%
2018 33.2% 18.7% 27.8% 60.5%
2017 35.6% 22.5% 27.9% 60.3%
2016 35.4% 20.6% 28.6% 60.1%
2015 38.7% 18% 28.5% 58.4%
2014 36.4% 8.53% 30.7% 58.6%
2013 37.8% 6.18% 30.4% 57.1%
2012 36.6% 5.83% 32.5% 52.3%
2011 33.7% 4.97% 31.2% 48.6%
2010 32% 4.98% 28.7% 45.3%
2009 34.5% 4.73% 28.1% 42.6%
2008 31.4% 3.22% 28.3% 42%
2007 26.1% 4% 26.4% 47.1%
2006 25.3% 5.3% 26% 50.6%
2005 22.5% 6.85% 28.6% 54.8%
2004 24.2% 9.71% 24.5% 54.4%
2003 21.7% 10.7% 24.1% 56.9%
2002 23.1% 11.9% 25.8% 59.4%
2001 16.8% 13% 23.7% 60.4%
2000 18.2% 13.1% 22.8% 64.9%
1999 19.5% 25.4% 18.4% 63.4%
1998 18.7% 14.3% 18.7% 64.5%
1997 18.5% 11.4% 18.6% 68%
1996 19.8% 16.7% 17.6% 65.3%
1995 18.9% 19.2% 21.3% 72.2%
1994 14.7% 11.7% 21.7% 69.3%
1993 - - 23.1% 74.7%
1992 - - 22.3% 67%
1991 - - 20.8% 59.1%
1990 - - 22.6% 70.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1994, retrieved 2026-02-20).

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

In 2024, Azerbaijan's government spending was $25.2B, accounting for 33.9% of its GDP, while Morocco spent $53.1B, or 33% of GDP.

Debt-to-GDP ratio is 21.7% in Azerbaijan and 67.7% in Morocco, ranking 174/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Morocco
1x
Year Deficit/surplus, % of GDP
Azerbaijan Morocco
2024 4.06% -3.92%
2023 7.92% -4.41%
2022 5.96% -5.37%
2021 4.21% -5.92%
2020 -6.44% -7.15%
2019 8.95% -3.8%
2018 5.43% -3.52%
2017 -1.34% -3.3%
2016 -1.17% -4.49%
2015 -4.83% -4.59%
2014 2.74% -4.78%
2013 1.64% -4.7%
2012 3.71% -6.63%
2011 10.9% -6.08%
2010 13.8% -3.93%
2009 5.86% -1.63%
2008 17.2% 0.63%
2007 2.34% -0.12%
2006 0.66% -1.8%
2005 2.74% -5.46%
2004 1.78% -3.31%
2003 1.6% -3.74%
2002 19.4% -4.37%
2001 21.8% -3.79%
2000 0.14% -1.97%
1999 -1.03% 3.21%
1998 1.63% 1.47%
1997 -0.94% 1.5%
1996 -2.25% 0.87%
1995 -1.34% -2.54%
1994 3.21% -2.51%
1993 - -2%
1992 - -1.84%
1991 - -0.9%
1990 - -1.32%

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

GeoRank.org/economy/azerbaijan/morocco | 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 Morocco's deficit of $6.3B, or 3.92% of GDP.

Over the past 31 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Morocco ran a deficit in 26 years. On average, Azerbaijan posted an annual surplus equal to 4.14% of GDP, compared to deficit of 3.1% of GDP for Morocco.

Inflation comparison by year

Inflation
Azerbaijan

Morocco
1x
Year Consumer prices inflation
Azerbaijan Morocco
2024 2.21% 0.99%
2023 8.79% 6.09%
2022 13.9% 6.66%
2021 6.65% 1.4%
2020 2.76% 0.71%
2019 2.61% 0.3%
2018 2.27% 1.8%
2017 12.9% 0.75%
2016 12.4% 1.64%
2015 4.03% 1.56%
2014 1.37% 0.44%
2013 2.42% 1.88%
2012 1.07% 1.29%
2011 7.86% 0.91%
2010 5.73% 0.99%
2009 1.46% 0.97%
2008 20.8% 3.71%
2007 16.7% 2.04%
2006 8.33% 3.28%
2005 9.68% 0.98%
2004 6.71% 1.49%
2003 2.23% 1.17%
2002 2.77% 2.8%
2001 1.55% 0.62%
2000 1.81% 1.89%
1999 -8.53% 0.68%
1998 -0.77% 2.75%
1997 3.67% 1.04%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Azerbaijan has recorded an average annual inflation rate of 5.48%, compared with 1.82% in Morocco. In 2024, inflation was 2.21% in Azerbaijan and 0.99% in Morocco.

Top exports between countries

Azerbaijan
Export category Export value
Machinery & equipment $207K
Metals $111K
Raw materials & minerals $89K
Textiles & consumer goods $14K
Precious metals & jewellery $7K
Raw agricultural goods $2K
Morocco
Export category Export value
Machinery & equipment $719K
Animal & marine products $75K
Processed food, beverages & tobacco $32K
Metals $29K
Chemicals & pharma $15K
Textiles & consumer goods $1K

Balance of trade

Azerbaijan Morocco
Current account balance
$4.67B
2024
-$1.87B
2024
Current account balance ranking
34/190
2024
141/190
2024
Current account balance, % of GDP
+6.29%
2024
-1.16%
2024
Goods imports
$17.2B
2024
$66.5B
2024
Goods exports
$26B
2024
$39.3B
2024
Service imports
$10.2B
2024
$14.3B
2024
Service exports
$8.12B
2024
$28.2B
2024
Imports of goods and services, % of GDP
36.8%
2024
50.2%
2024
Exports of goods and services, % of GDP
45.9%
2024
42%
2024

Economic freedom indices

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

Azerbaijan Morocco
Economic freedom 64.3 61.8
Economic freedom ranking 74/197 91/197
Property rights 53.3 55.2
Government integrity 23.6 35.6
Judicial effectiveness 16.5 32.5
Tax burden 87.9 65.5
Government spending 71.3 67.5
Fiscal health 99.1 57.5
Business freedom 71.2 72.1
Labor freedom 56.9 46.2
Monetary freedom 76 79.6
Trade freedom 75.8 69.8
Investment freedom 70 80
Financial freedom 70 80

Economic freedom comparison by year

Azerbaijan
Morocco
1x
Year Economic freedom index
Azerbaijan Morocco
2026 64.3 61.8
2025 62.5 60.3
2024 61.6 56.8
2023 61.4 58.4
2022 61.6 59.2
2021 70.1 63.3
2020 69.3 63.3
2019 65.4 62.9
2018 64.3 61.9
2017 63.6 61.5
2016 60.2 61.3
2015 61 60.1
2014 61.3 58.3
2013 59.7 59.6
2012 58.9 60.2
2011 59.7 59.6
2010 58.8 59.2
2009 58 57.7
2008 55.3 55.6
2007 54.6 56.4
2006 53.2 51.5
2005 54.4 52.2
2004 53.4 56.7
2003 54.1 57.8
2002 53.3 59
2001 50.3 63.9
2000 49.8 63.2
1999 47.4 63.8
1998 43.1 61.1
1997 34 64.7
1996 30 64.3
1995 - 62.8

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

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Morocco
Services, % of GDP
42.3%
2024
52.7%
2024
Industry, % of GDP
42.6%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
5.66%
2024
10.6%
2024
GNI, Atlas method
$74.8B
2024
$149B
2024
GNI per capita, PPP
$24,220
2024
$10,260
2024
Total reserves including gold
$12.7B
2024
$37.1B
2024
Total reserves ranking
72/177
2024
52/177
2024
Net foreign direct investment
$511M
2024
-$948M
2024
Net inflows of foreign direct investment
$231M
2024
$1.64B
2024
Net outflows of foreign direct investment
$742M
2024
$691M
2024
Servicing debt to the IMF, % of GNI
5.83%
2024
5.63%
2024
Poverty at national poverty lines
6%
2012
3.9%
2022
Gross capital formation, % of GDP
21.1%
2024
30.1%
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/morocco | 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. TradeMap (2021–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. International Monetary Fund (IMF) | Public Finances in Modern History (1994, retrieved 2026-02-20)

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.