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Economy of Azerbaijan vs Paraguay compared: GDP & Debt

Updated on by Georank

Azerbaijan has a GDP of $75.9B compared to $49.3B for Paraguay, ranking 87/197 and 97/197 by economy size, respectively.

Azerbaijan has $15.3B in government debt (20.1% of GDP), compared to $18.8B (38.1% of GDP) in Paraguay.

Azerbaijan vs Paraguay GDP by year

Azerbaijan
Paraguay
1x
Year GDP, current $
Azerbaijan Paraguay
2025 $75,937,647,059 $49,278,227,554
2024 $74,426,000,000 $44,738,819,362
2023 $72,428,470,588 $43,140,465,596
2022 $78,807,470,588 $41,841,201,627
2021 $54,825,411,765 $39,937,357,256
2020 $42,693,000,000 $35,432,178,068
2019 $48,174,235,294 $37,925,338,329
2018 $47,112,470,052 $40,225,448,341
2017 $40,866,627,352 $38,997,129,474
2016 $37,866,996,883 $36,089,700,223
2015 $53,076,235,355 $36,211,447,840
2014 $75,239,785,452 $40,377,929,296
2013 $74,160,560,124 $38,501,122,141
2012 $69,679,944,504 $33,271,921,136
2011 $65,952,796,428 $33,756,238,767
2010 $52,909,294,792 $27,260,886,405
2009 $44,292,427,185 $22,355,151,162
2008 $48,851,293,785 $24,615,267,664
2007 $33,049,419,431 $17,856,393,235
2006 $20,981,929,498 $13,429,430,050
2005 $13,245,421,881 $10,737,500,188
2004 $8,680,405,741 $9,624,440,836
2003 $7,276,413,079 $7,691,367,471
2002 $6,236,087,738 $7,196,260,657
2001 $5,707,616,204 $8,495,806,432
2000 $5,272,615,723 $8,855,705,140
1999 $4,581,248,567 $8,837,070,236
1998 $4,446,368,571 $9,260,481,572
1997 $3,962,362,387 $9,965,225,678
1996 $3,176,507,376 $9,788,391,781
1995 $2,417,331,193 $9,062,131,475
1994 $1,193,141,110 $7,870,982,005
1993 $1,570,392,598 $7,249,533,620
1992 $444,658,672 $7,157,424,031
1991 $5,344,000,000 $6,984,367,763
1990 $8,884,848,485 $5,812,114,523
1989 - $4,757,732,200
1988 - $4,255,683,528
1987 - $3,971,044,724
1986 - $3,723,993,943
1985 - $3,282,449,236
1984 - $4,502,462,807
1983 - $5,673,248,726
1982 - $5,419,411,765
1981 - $5,624,515,873
1980 - $4,448,087,302
1979 - $3,416,777,778
1978 - $2,559,857,143
1977 - $2,092,158,730
1976 - $1,698,960,317
1975 - $1,511,420,635
1974 - $1,333,475,397
1973 - $995,531,746
1972 - $769,039,683
1971 - $664,571,429
1970 - $594,611,111
1969 - $556,293,651
1968 - $517,650,794
1967 - $492,674,603
1966 - $465,888,889
1965 - $443,587,302
1964 - $408,349,206
1963 - $383,904,762
1962 - $360,698,413
1961 - $322,053,713
1960 - $288,884,368

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

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

GDP per capita in Azerbaijan vs Paraguay by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Paraguay
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Paraguay
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,411 - $7,027 -
2024 $7,295 $25,089 $6,457 $18,524
2023 $7,133 $23,652 $6,303 $17,564
2022 $7,771 $22,552 $6,189 $16,347
2021 $5,408 $20,111 $5,975 $15,406
2020 $4,230 $15,164 $5,365 $14,309
2019 $4,806 $16,675 $5,821 $14,150
2018 $4,740 $15,283 $6,258 $14,139
2017 $4,147 $14,316 $6,152 $13,977
2016 $3,881 $14,536 $5,775 $13,329
2015 $5,501 $15,075 $5,879 $12,679
2014 $7,891 $17,564 $6,652 $12,607
2013 $7,875 $17,268 $6,436 $12,137
2012 $7,496 $15,994 $5,642 $10,954
2011 $7,190 $14,805 $5,805 $11,442
2010 $5,844 $14,930 $4,751 $10,893
2009 $4,950 $14,246 $3,942 $9,802
2008 $5,574 $13,217 $4,385 $9,867
2007 $3,851 $11,974 $3,212 $9,179
2006 $2,473 $9,398 $2,439 $8,561
2005 $1,578 $6,855 $1,971 $8,007
2004 $1,045 $5,248 $1,786 $7,686
2003 $884 $4,718 $1,444 $7,276
2002 $763 $4,230 $1,368 $6,924
2001 $704 $3,835 $1,638 $6,916
2000 $655 $3,439 $1,736 $6,937
1999 $574 $3,052 $1,766 $7,080
1998 $562 $2,827 $1,890 $7,227
1997 $506 $2,565 $2,079 $7,299
1996 $409 $2,407 $2,088 $7,040
1995 $315 $2,357 $1,979 $6,966
1994 $157.1 $2,648 $1,760 $6,542
1993 $209.5 $3,272 $1,662 $6,234
1992 $60.2 $4,220 $1,683 $5,952
1991 $735 $5,412 $1,685 $5,873
1990 $1,238 $5,343 $1,440 $5,637
1989 - - $1,211 -
1988 - - $1,114 -
1987 - - $1,069 -
1986 - - $1,031 -
1985 - - $935 -
1984 - - $1,319 -
1983 - - $1,710 -
1982 - - $1,680 -
1981 - - $1,793 -
1980 - - $1,457 -
1979 - - $1,149 -
1978 - - $883 -
1977 - - $740 -
1976 - - $616 -
1975 - - $562 -
1974 - - $508 -
1973 - - $389 -
1972 - - $308 -
1971 - - $272.1 -
1970 - - $249 -
1969 - - $238.2 -
1968 - - $226.8 -
1967 - - $220.9 -
1966 - - $213.9 -
1965 - - $208.7 -
1964 - - $197 -
1963 - - $189.9 -
1962 - - $182.8 -
1961 - - $167.1 -
1960 - - $153.4 -

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

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

Azerbaijan's GDP per capita is $7,411, ranking 101/197, compared to $7,027 in Paraguay, ranking 105/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Paraguay ranks 102nd at $18,524.

Economic indicators

Azerbaijan Paraguay
Gross domestic product
$75.9B
2025
$49.3B
2025
GDP rank
87/197
2025
97/197
2025
GDP growth
1.45%
2024-2025
6.64%
2024-2025
GDP per capita
$7,411
2025
$7,027
2025
GDP per capita rank
101/197
2025
105/197
2025
GDP per capita, PPP
$25,089
2024
$18,524
2024
GDP per capita PPP rank
82/197
2024
102/197
2024
Government debt
$15.3B
2025
$18.8B
2025
Debt-to-GDP ratio
20.1%
2025
38.1%
2025
Government debt per person
$1,492
2025
$2,679
2025
Government debt per person rank
131/185
2025
111/185
2025
Average annual personal income after taxes
$6,426
2026
$6,874
2026
Market capitalization of domestic companies
$1.57B
2025
$313M
1999
Income share by richest 10%
24.2%
2005
35%
2024
Income share by poorest 10%
4.8%
2005
2%
2024
Government expenditure, % of GDP
34.6%
2025
19.6%
2025
Consumer prices inflation
5.62%
2024-2025
4.04%
2024-2025
Central bank interest rate
6.5%
2026
5.75%
2026
Unemployment rate
5.7%
2022
4.63%
2025
Population
10333222
7138671

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Paraguay
Spending

Debt
1x
Year % of GDP
Azerbaijan Paraguay
Government spending Government debt Government spending Government debt
2025 34.6% 20.1% 19.6% 38.1%
2024 33.9% 21.6% 20.9% 44.6%
2023 32.7% 21.8% 21.5% 41%
2022 26.2% 17.3% 20.2% 40.6%
2021 32.2% 26.3% 20.5% 37.5%
2020 40.2% 21.3% 22.6% 36.9%
2019 32.5% 17.7% 20.1% 25.8%
2018 33.2% 18.7% 18.5% 22.3%
2017 35.6% 22.5% 18.1% 19.8%
2016 35.4% 20.6% 17.7% 19.4%
2015 38.7% 18% 18% 18.6%
2014 36.4% 8.53% 17.1% 15.6%
2013 37.8% 6.18% 17.1% 13.5%
2012 36.6% 5.83% 17.6% 12.3%
2011 33.7% 4.97% 14.7% 11.1%
2010 32% 4.98% 13.3% 13%
2009 34.5% 4.73% 14.3% 14.9%
2008 31.4% 3.22% 11.8% 16%
2007 26.1% 4% 13.1% 16.8%
2006 25.3% 5.3% 14.1% 21%
2005 22.5% 6.85% 14% 28.3%
2004 24.2% 9.71% 14% 36%
2003 21.7% 10.7% 14.6% 37.5%
2002 23.1% 11.9% 17.6% 50.5%
2001 16.8% 13% 19% 37.1%
2000 18.2% 13.1% 19.6% 33.6%
1999 19.5% 25.4% 19.2% 32%
1998 18.7% 14.3% 18% 22.1%
1997 18.5% 11.4% 18.1% 18%
1996 19.8% 16.7% 16.9% 16.8%
1995 18.9% 19.2% 15.7% 17.6%
1994 14.7% 11.7% 14.5% 18.7%
1993 - - 12.9% 26.6%
1992 - - 13% 34.4%
1991 - - 11.4% 49.4%
1990 - - 10.5% 67%
1989 - - 11.8% 52.9%
1988 - - 9.75% 58.9%
1987 - - 10.1% 68.7%
1986 - - 9.25% 57.1%
1985 - - 11.4% 54.7%
1984 - - 13% 31%
1983 - - 13% 22.6%
1982 - - 13.2% 21.3%
1981 - - 13.3% 17.4%
1980 - - 11.6% 17.4%
1979 - - 11.7% 19.7%
1978 - - 11.9% 20.9%
1977 - - 11.2% 18.8%
1976 - - 9.8% 14.1%
1975 - - 10.5% 12.6%
1974 - - 9.44% 12.5%
1973 - - 11.2% 15.4%
1972 - - 12.5% 18.2%
1971 - - 12.3% 18.9%
1970 - - 13.3% 19.2%
1969 - - 14% -
1968 - - 13.5% -
1967 - - 12.2% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1994, retrieved 2026-07-08).

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

In 2025, Azerbaijan's government spending was $26.3B, accounting for 34.6% of its GDP, while Paraguay spent $9.66B, or 19.6% of GDP.

Debt-to-GDP ratio is 20.1% in Azerbaijan and 38.1% in Paraguay, ranking 174/185 and 138/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Paraguay
1x
Year Deficit/surplus, % of GDP
Azerbaijan Paraguay
2025 2.56% -1.69%
2024 4.05% -2.1%
2023 7.92% -3.81%
2022 5.96% -2.65%
2021 4.21% -3.39%
2020 -6.44% -5.72%
2019 8.95% -2.44%
2018 5.43% -1.01%
2017 -1.34% -0.44%
2016 -1.17% -0.37%
2015 -4.83% -0.44%
2014 2.74% -0.27%
2013 1.64% -1.16%
2012 3.71% -0.58%
2011 10.9% 1.29%
2010 13.8% 1.54%
2009 5.86% 0.59%
2008 17.2% 2.29%
2007 2.34% 1.27%
2006 0.66% 0.91%
2005 2.74% 0.74%
2004 1.78% 1.33%
2003 1.6% -0.07%
2002 19.4% -1.89%
2001 21.8% 0.07%
2000 0.14% -0.55%
1999 -1.03% 2.67%
1998 1.63% 4.28%
1997 -0.94% 3%
1996 -2.25% 2.43%
1995 -1.34% 2.78%
1994 3.21% 4.59%
1993 - 4.27%
1992 - 3.1%
1991 - 3.41%
1990 - 7.56%
1989 - 5.48%
1988 - 3.01%
1987 - 2.68%
1986 - 3.08%
1985 - 0.85%
1984 - -0.42%
1983 - 0.27%
1982 - 1.52%
1981 - 0.15%
1980 - 3.4%
1979 - 4.13%
1978 - -3.42%
1977 - -0.19%
1976 - -0.06%
1975 - -1.24%
1974 - 1.67%
1973 - -0.91%
1972 - -2.51%
1971 - -1.25%
1970 - -1.26%
1969 - -1.62%
1968 - -2.34%
1967 - -1.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1967–1989, retrieved 2026-07-08).

GeoRank.org/economy/azerbaijan/paraguay | 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 Paraguay's deficit of $832M, or 1.69% of GDP.

Over the past 32 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Paraguay ran a deficit in 17 years. On average, Azerbaijan posted an annual surplus equal to 4.09% of GDP, compared to surplus of 0.04% of GDP for Paraguay.

Inflation comparison by year

Inflation
Azerbaijan

Paraguay
1x
Year Consumer prices inflation
Azerbaijan Paraguay
2025 5.62% 4.04%
2024 2.21% 3.84%
2023 8.79% 4.63%
2022 13.9% 9.77%
2021 6.65% 4.79%
2020 2.76% 1.77%
2019 2.61% 2.76%
2018 2.27% 3.98%
2017 12.9% 3.6%
2016 12.4% 4.09%
2015 4.03% 3.13%
2014 1.37% 5.03%
2013 2.42% 2.68%
2012 1.07% 3.68%
2011 7.86% 8.25%
2010 5.73% 4.65%
2009 1.46% 2.59%
2008 20.8% 10.2%
2007 16.7% 8.13%
2006 8.33% 9.59%
2005 9.68% 6.81%
2004 6.71% 4.32%
2003 2.23% 14.2%
2002 2.77% 10.5%
2001 1.55% 7.27%
2000 1.81% 8.98%
1999 -8.53% 6.75%
1998 -0.77% 11.6%
1997 3.67% 6.95%

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

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

Over the past 29 years, Azerbaijan has recorded an average annual inflation rate of 5.49%, compared with 6.16% in Paraguay. In 2025, inflation was 5.62% in Azerbaijan and 4.04% in Paraguay.

Top exports between countries

Azerbaijan
Export category Export value
Paraguay
Export category Export value
Chemicals & pharma $82K
Processed food, beverages & tobacco $45K
Animal & marine products $37K

Balance of trade

Azerbaijan Paraguay
Current account balance
$3.48B
2025
-$1.57B
2025
Current account balance ranking
35/190
2025
131/190
2025
Current account balance, % of GDP
+4.58%
2025
-3.18%
2025
Goods imports
$17.7B
2025
$17.5B
2025
Goods exports
$24.1B
2025
$15.4B
2025
Service imports
$10.3B
2025
$2.75B
2025
Service exports
$8.6B
2025
$3.72B
2025
Imports of goods and services, % of GDP
36.8%
2025
39.3%
2025
Exports of goods and services, % of GDP
43%
2025
37.2%
2025

Economic freedom indices

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

Azerbaijan Paraguay
Economic freedom 64.3 66.4
Economic freedom ranking 74/197 61/197
Property rights 53.3 44.2
Government integrity 23.6 27.3
Judicial effectiveness 16.5 38.4
Tax burden 87.9 95.9
Government spending 71.3 86.9
Fiscal health 99.1 83
Business freedom 71.2 72
Labor freedom 56.9 44.1
Monetary freedom 76 76.5
Trade freedom 75.8 78.4
Investment freedom 70 80
Financial freedom 70 70

Economic freedom comparison by year

Azerbaijan
Paraguay
1x
Year Economic freedom index
Azerbaijan Paraguay
2026 64.3 66.4
2025 62.5 65.2
2024 61.6 60.1
2023 61.4 61
2022 61.6 62.9
2021 70.1 62.6
2020 69.3 63
2019 65.4 61.8
2018 64.3 62.1
2017 63.6 62.4
2016 60.2 61.5
2015 61 61.1
2014 61.3 62
2013 59.7 61.1
2012 58.9 61.8
2011 59.7 62.3
2010 58.8 61.3
2009 58 61
2008 55.3 60
2007 54.6 58.3
2006 53.2 55.6
2005 54.4 53.4
2004 53.4 56.7
2003 54.1 58.2
2002 53.3 59.6
2001 50.3 60.3
2000 49.8 64
1999 47.4 63.7
1998 43.1 65.2
1997 34 67.3
1996 30 67.1
1995 - 65.9

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

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 66.4 for Paraguay, ranking 61/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Paraguay
Services, % of GDP
45.3%
2025
48.1%
2025
Industry, % of GDP
39.5%
2025
32.3%
2025
Agriculture, forestry, and fishing, % of GDP
5.93%
2025
11.6%
2025
GNI, Atlas method
$75.4B
2025
$47.4B
2025
GNI per capita, PPP
$25,430
2025
$19,390
2025
Total reserves including gold
$13.6B
2025
$9.57B
2024
Total reserves ranking
74/177
2025
82/177
2024
Net foreign direct investment
$536M
2025
-$945M
2025
Net inflows of foreign direct investment
$231M
2024
$1.1B
2024
Net outflows of foreign direct investment
$742M
2024
$166M
2024
Servicing debt to the IMF, % of GNI
5.82%
2024
4.58%
2024
Poverty at national poverty lines
6%
2012
20.1%
2024
Gross capital formation, % of GDP
18.9%
2025
25.3%
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/paraguay | 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 (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1967–1994, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2023–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, 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.