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Economy of Azerbaijan vs Romania compared: GDP & Debt

Updated on by Georank

Azerbaijan has a GDP of $75.9B compared to $429B for Romania, ranking 87/197 and 39/197 by economy size, respectively.

Azerbaijan has $15.3B in government debt (20.1% of GDP), compared to $260B (60.6% of GDP) in Romania.

Azerbaijan vs Romania GDP by year

Azerbaijan
Romania
1x
Year GDP, current $
Azerbaijan Romania
2025 $75,937,647,059 $428,677,977,855
2024 $74,426,000,000 $382,564,217,989
2023 $72,428,470,588 $347,757,995,759
2022 $78,807,470,588 $295,317,862,856
2021 $54,825,411,765 $285,072,444,957
2020 $42,693,000,000 $250,624,575,872
2019 $48,174,235,294 $250,080,428,512
2018 $47,112,470,052 $241,791,427,224
2017 $40,866,627,352 $210,147,385,855
2016 $37,866,996,883 $185,290,759,249
2015 $53,076,235,355 $177,885,131,240
2014 $75,239,785,452 $199,722,319,676
2013 $74,160,560,124 $189,798,603,751
2012 $69,679,944,504 $179,117,323,107
2011 $65,952,796,428 $192,623,977,894
2010 $52,909,294,792 $170,064,350,672
2009 $44,292,427,185 $174,110,532,659
2008 $48,851,293,785 $214,315,932,061
2007 $33,049,419,431 $174,588,782,939
2006 $20,981,929,498 $122,023,735,993
2005 $13,245,421,881 $98,454,380,120
2004 $8,680,405,741 $74,973,656,852
2003 $7,276,413,079 $57,806,384,143
2002 $6,236,087,738 $46,065,502,703
2001 $5,707,616,204 $40,395,116,581
2000 $5,272,615,723 $37,253,739,511
1999 $4,581,248,567 $35,953,156,754
1998 $4,446,368,571 $41,696,091,974
1997 $3,962,362,387 $35,575,214,078
1996 $3,176,507,376 $36,937,074,278
1995 $2,417,331,193 $37,430,162,103
1994 $1,193,141,110 $30,072,805,104
1993 $1,570,392,598 $26,361,160,450
1992 $444,658,672 $25,121,666,667
1991 $5,344,000,000 $28,850,634,900
1990 $8,884,848,485 $38,247,882,300
1989 - $41,450,777,202
1988 - $40,424,528,302
1987 - $38,067,567,568

Data sources: World Bank | Economy & Growth (1987–2025, retrieved 2026-07-08).

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

GDP per capita in Azerbaijan vs Romania by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Romania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Romania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $7,411 - $22,538 -
2024 $7,295 $25,089 $20,080 $49,077
2023 $7,133 $23,652 $18,244 $45,982
2022 $7,771 $22,552 $15,503 $41,979
2021 $5,408 $20,111 $14,908 $37,534
2020 $4,230 $15,164 $13,009 $34,194
2019 $4,806 $16,675 $12,910 $33,425
2018 $4,740 $15,283 $12,416 $29,383
2017 $4,147 $14,316 $10,728 $26,943
2016 $3,881 $14,536 $9,405 $23,905
2015 $5,501 $15,075 $8,977 $21,625
2014 $7,891 $17,564 $10,032 $20,633
2013 $7,875 $17,268 $9,498 $19,678
2012 $7,496 $15,994 $8,930 $19,808
2011 $7,190 $14,805 $9,561 $18,804
2010 $5,844 $14,930 $8,400 $17,355
2009 $4,950 $14,246 $8,548 $16,641
2008 $5,574 $13,217 $10,435 $16,782
2007 $3,851 $11,974 $8,360 $13,703
2006 $2,473 $9,398 $5,758 $11,554
2005 $1,578 $6,855 $4,618 $9,602
2004 $1,045 $5,248 $3,495 $8,989
2003 $884 $4,718 $2,679 $7,559
2002 $763 $4,230 $2,120 $7,162
2001 $704 $3,835 $1,825 $6,520
2000 $655 $3,439 $1,660 $5,850
1999 $574 $3,052 $1,600 $5,596
1998 $562 $2,827 $1,853 $5,545
1997 $506 $2,565 $1,577 $5,564
1996 $409 $2,407 $1,633 $5,746
1995 $315 $2,357 $1,650 $5,429
1994 $157.1 $2,648 $1,323 $4,995
1993 $209.5 $3,272 $1,158 $4,699
1992 $60.2 $4,220 $1,102 $4,515
1991 $735 $5,412 $1,254 $4,795
1990 $1,238 $5,343 $1,648 $5,280
1989 - - $1,790 -
1988 - - $1,753 -
1987 - - $1,659 -

Data sources: World Bank | Economy & Growth (1987–2025, retrieved 2026-07-08).

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

Azerbaijan's GDP per capita is $7,411, ranking 101/197, compared to $22,538 in Romania, ranking 57/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Romania ranks 47th at $49,077.

Economic indicators

Azerbaijan Romania
Gross domestic product
$75.9B
2025
$429B
2025
GDP rank
87/197
2025
39/197
2025
GDP growth
1.45%
2024-2025
0.68%
2024-2025
GDP per capita
$7,411
2025
$22,538
2025
GDP per capita rank
101/197
2025
57/197
2025
GDP per capita, PPP
$25,089
2024
$49,077
2024
GDP per capita PPP rank
82/197
2024
47/197
2024
Government debt
$15.3B
2025
$260B
2025
Debt-to-GDP ratio
20.1%
2025
60.6%
2025
Government debt per person
$1,492
2025
$13,650
2025
Government debt per person rank
131/185
2025
48/185
2025
Average annual personal income after taxes
$6,426
2026
$13,510
2026
Market capitalization of domestic companies
$1.57B
2025
$70.9B
2025
Number of billionaires n/a
6
2026
Income share by richest 10%
24.2%
2005
21.8%
2023
Income share by poorest 10%
4.8%
2005
2.4%
2023
Government expenditure, % of GDP
34.6%
2025
40.5%
2025
Consumer prices inflation
5.62%
2024-2025
7.3%
2024-2025
Central bank interest rate
6.5%
2026
6.5%
2024
Unemployment rate
5.7%
2022
6.1%
2025
Population
10333222
18912567

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Romania
Spending

Debt
1x
Year % of GDP
Azerbaijan Romania
Government spending Government debt Government spending Government debt
2025 34.6% 20.1% 40.5% 60.6%
2024 33.9% 21.6% 40% 57.5%
2023 32.7% 21.8% 37% 52.6%
2022 26.2% 17.3% 37.5% 51.9%
2021 32.2% 26.3% 37.2% 51.8%
2020 40.2% 21.3% 38.3% 49.5%
2019 32.5% 17.7% 33.4% 36.8%
2018 33.2% 18.7% 31.9% 36.4%
2017 35.6% 22.5% 31% 37.1%
2016 35.4% 20.6% 31.8% 39.5%
2015 38.7% 18% 34.2% 39.4%
2014 36.4% 8.53% 33.8% 40.5%
2013 37.8% 6.18% 34.2% 39.3%
2012 36.6% 5.83% 33.5% 36.2%
2011 33.7% 4.97% 35% 32.6%
2010 32% 4.98% 37.4% 30.2%
2009 34.5% 4.73% 36.3% 22.5%
2008 31.4% 3.22% 35.3% 13%
2007 26.1% 4% 34.6% 12.4%
2006 25.3% 5.3% 33.9% 12.7%
2005 22.5% 6.85% 32.3% 17.8%
2004 24.2% 9.71% 33.7% 21.3%
2003 21.7% 10.7% 31.8% 24.9%
2002 23.1% 11.9% 32.1% 27.4%
2001 16.8% 13% 33.2% 27.4%
2000 18.2% 13.1% 35% 29.6%
1999 19.5% 25.4% 35.1% 21.7%
1998 18.7% 14.3% 34.7% 16.5%
1997 18.5% 11.4% 33.5% 15%
1996 19.8% 16.7% 33.5% 11%
1995 18.9% 19.2% 34.4% 6.91%
1994 14.7% 11.7% 33.1% -
1993 - - 33.5% -
1992 - - 41.5% -
1991 - - 38.3% -
1990 - - 38.4% -
1989 - - 40.1% -
1988 - - 36.6% -
1987 - - 40.7% -
1986 - - 42.5% -
1985 - - 41.6% -
1984 - - 28.6% -
1983 - - 25.8% -
1982 - - 28.5% -
1981 - - 30.4% -
1980 - - 33.6% -
1979 - - 42% -
1978 - - 42.1% -
1977 - - 39.9% -
1976 - - 37.5% -
1975 - - 40.6% -
1974 - - 37.6% -
1973 - - 32.6% -
1972 - - 29.9% -
1971 - - 27.2% -
1970 - - 28.1% -
1969 - - 32.1% -
1968 - - 31.8% -
1967 - - 30.6% -
1966 - - 27.3% -
1965 - - 25.6% -
1964 - - 25.1% -
1963 - - 23.1% -
1962 - - 43.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1999, retrieved 2026-07-08).

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

In 2025, Azerbaijan's government spending was $26.3B, accounting for 34.6% of its GDP, while Romania spent $173B, or 40.5% of GDP.

Debt-to-GDP ratio is 20.1% in Azerbaijan and 60.6% in Romania, ranking 174/185 and 76/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Romania
1x
Year Deficit/surplus, % of GDP
Azerbaijan Romania
2025 2.56% -7.64%
2024 4.05% -8.68%
2023 7.92% -5.66%
2022 5.96% -5.85%
2021 4.21% -6.74%
2020 -6.44% -9.6%
2019 8.95% -4.58%
2018 5.43% -2.76%
2017 -1.34% -2.86%
2016 -1.17% -2.5%
2015 -4.83% -1.35%
2014 2.74% -1.76%
2013 1.64% -2.44%
2012 3.71% -2.39%
2011 10.9% -4.14%
2010 13.8% -6.22%
2009 5.86% -6.86%
2008 17.2% -4.6%
2007 2.34% -3.05%
2006 0.66% -1.36%
2005 2.74% -0.69%
2004 1.78% -3.39%
2003 1.6% -2.29%
2002 19.4% -2.59%
2001 21.8% -3.2%
2000 0.14% -3.99%
1999 -1.03% -3.58%
1998 1.63% -5.33%
1997 -0.94% -5.19%
1996 -2.25% -4.74%
1995 -1.34% -3.32%
1994 3.21% -2.2%
1993 - -0.35%
1992 - -4.55%
1991 - 3.23%
1990 - 1.03%
1989 - -2.87%
1988 - 8.4%
1987 - 2.37%
1986 - 5.72%
1985 - 6.36%
1984 - 15.2%
1983 - 9.35%
1982 - 0.36%
1981 - 0.61%
1980 - -1.95%
1979 - 0%
1978 - 0%
1977 - 0.23%
1976 - 0.66%
1975 - 0.41%
1974 - 0.51%
1973 - 1.53%
1972 - 1.21%
1971 - 0.89%
1970 - 0.52%
1969 - 0.93%
1968 - 1.65%
1967 - 1.23%
1966 - 0.91%
1965 - -1.29%
1964 - -3.11%
1963 - -1.61%
1962 - -4.86%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

GeoRank.org/economy/azerbaijan/romania | 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 Romania's deficit of $32.8B, or 7.64% of GDP.

Over the past 32 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Romania ran a deficit in 32 years. On average, Azerbaijan posted an annual surplus equal to 4.09% of GDP, compared to deficit of 4.11% of GDP for Romania.

Inflation comparison by year

Inflation
Azerbaijan

Romania
1x
Year Consumer prices inflation
Azerbaijan Romania
2025 5.62% 7.3%
2024 2.21% 5.6%
2023 8.79% 10.4%
2022 13.9% 13.8%
2021 6.65% 5%
2020 2.76% 2.6%
2019 2.61% 3.8%
2018 2.27% 4.6%
2017 12.9% 1.3%
2016 12.4% -1.6%
2015 4.03% -0.6%
2014 1.37% 1.1%
2013 2.42% 4%
2012 1.07% 3.3%
2011 7.86% 5.8%
2010 5.73% 6.1%
2009 1.46% 5.6%
2008 20.8% 7.8%
2007 16.7% 4.8%
2006 8.33% 6.6%
2005 9.68% 9%
2004 6.71% 11.9%
2003 2.23% 15.4%
2002 2.77% 22.5%
2001 1.55% 34.5%
2000 1.81% 45.7%
1999 -8.53% 45.8%
1998 -0.77% 59.1%
1997 3.67% 154.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, Azerbaijan has recorded an average annual inflation rate of 5.49%, compared with 17.1% in Romania. In 2025, inflation was 5.62% in Azerbaijan and 7.3% in Romania.

Top exports between countries

Azerbaijan
Export category Export value
Raw materials & minerals $619M
Chemicals & pharma $6.93M
Machinery & equipment $1.93M
Wood & paper products $647K
Metals $174K
Raw agricultural goods $158K
Processed food, beverages & tobacco $67K
Textiles & consumer goods $3K
Precious metals & jewellery $2K
Miscellaneous $1K
Romania
Export category Export value
Machinery & equipment $27.7M
Metals $21.7M
Chemicals & pharma $8.57M
Processed food, beverages & tobacco $4.32M
Weapons & explosives $3.38M
Textiles & consumer goods $2.42M
Animal & marine products $1.86M
Raw materials & minerals $1.57M
Miscellaneous $1.2M
Raw agricultural goods $888K

Balance of trade

Azerbaijan Romania
Current account balance
$3.48B
2025
-$33.9B
2025
Current account balance ranking
35/190
2025
186/190
2025
Current account balance, % of GDP
+4.58%
2025
-7.9%
2025
Goods imports
$17.7B
2025
$139B
2025
Goods exports
$24.1B
2025
$102B
2025
Service imports
$10.3B
2025
$35.9B
2025
Service exports
$8.6B
2025
$50.1B
2025
Imports of goods and services, % of GDP
36.8%
2025
40.7%
2025
Exports of goods and services, % of GDP
43%
2025
35.5%
2025

Economic freedom indices

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

Azerbaijan Romania
Economic freedom 64.3 65.4
Economic freedom ranking 74/197 64/197
Property rights 53.3 81
Government integrity 23.6 50
Judicial effectiveness 16.5 67
Tax burden 87.9 89.1
Government spending 71.3 56.7
Fiscal health 99.1 21.4
Business freedom 71.2 74.4
Labor freedom 56.9 63.6
Monetary freedom 76 72.7
Trade freedom 75.8 79.4
Investment freedom 70 70
Financial freedom 70 60

Economic freedom comparison by year

Azerbaijan
Romania
1x
Year Economic freedom index
Azerbaijan Romania
2026 64.3 65.4
2025 62.5 66.5
2024 61.6 64.4
2023 61.4 64.5
2022 61.6 67.1
2021 70.1 69.5
2020 69.3 69.7
2019 65.4 68.6
2018 64.3 69.4
2017 63.6 69.7
2016 60.2 65.6
2015 61 66.6
2014 61.3 65.5
2013 59.7 65.1
2012 58.9 64.4
2011 59.7 64.7
2010 58.8 64.2
2009 58 63.2
2008 55.3 61.7
2007 54.6 61.2
2006 53.2 58.2
2005 54.4 52.1
2004 53.4 50
2003 54.1 50.6
2002 53.3 48.7
2001 50.3 50
2000 49.8 52.1
1999 47.4 50.1
1998 43.1 54.4
1997 34 50.8
1996 30 46.2
1995 - 42.9

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

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 65.4 for Romania, ranking 64/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Romania
Services, % of GDP
45.3%
2025
61.7%
2025
Industry, % of GDP
39.5%
2025
25.3%
2025
Agriculture, forestry, and fishing, % of GDP
5.93%
2025
3%
2025
GNI, Atlas method
$75.4B
2025
$384B
2025
GNI per capita, PPP
$25,430
2025
$49,550
2025
Total reserves including gold
$13.6B
2025
$90.6B
2025
Total reserves ranking
74/177
2025
31/177
2025
Net foreign direct investment
$536M
2025
-$8.57B
2025
Net inflows of foreign direct investment
$231M
2024
$7.16B
2024
Net outflows of foreign direct investment
$742M
2024
$1.99B
2024
Servicing debt to the IMF, % of GNI
5.82%
2024
n/a
Poverty at national poverty lines
6%
2012
19%
2023
Gross capital formation, % of GDP
18.9%
2025
25.9%
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/romania | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2025, 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 (1962–1999, 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 (2024–2025, 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.