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Economy of Azerbaijan vs Seychelles compared: GDP & Debt

Updated on by Georank team

Azerbaijan has a GDP of $74.3B compared to $2.17B for the Seychelles, ranking 84/197 and 178/197 by economy size, respectively.

Azerbaijan has $16.1B in government debt (21.7% of GDP), compared to $1.25B (57.6% of GDP) in the Seychelles.

Azerbaijan vs Seychelles GDP by year

Azerbaijan
Seychelles
1x
Year GDP, current $
Azerbaijan Seychelles
2024 $74,315,882,353 $2,167,239,562
2023 $72,428,470,588 $2,187,379,755
2022 $78,807,470,588 $2,018,346,589
2021 $54,825,411,765 $1,487,173,795
2020 $42,693,000,000 $1,382,551,752
2019 $48,174,235,294 $1,868,690,097
2018 $47,112,470,052 $1,784,313,927
2017 $40,866,627,352 $1,675,370,641
2016 $37,866,996,883 $1,568,513,348
2015 $53,076,235,355 $1,432,403,352
2014 $75,239,785,452 $1,387,577,870
2013 $74,160,560,124 $1,333,160,407
2012 $69,679,944,504 $1,089,407,839
2011 $65,952,796,428 $1,058,918,707
2010 $52,909,294,792 $981,616,542
2009 $44,292,427,185 $850,901,620
2008 $48,851,293,785 $979,597,394
2007 $33,049,419,431 $1,077,308,814
2006 $20,981,929,498 $1,081,441,283
2005 $13,245,421,881 $977,899,382
2004 $8,680,405,741 $893,012,218
2003 $7,276,413,079 $750,847,230
2002 $6,236,087,738 $742,134,838
2001 $5,707,616,204 $662,064,156
2000 $5,272,615,723 $654,212,394
1999 $4,581,248,567 $662,838,615
1998 $4,446,368,571 $647,287,376
1997 $3,962,362,387 $598,966,982
1996 $3,176,507,376 $535,250,347
1995 $2,417,331,193 $540,733,048
1994 $1,193,141,110 $517,570,058
1993 $1,570,392,598 $504,230,621
1992 $444,658,672 $461,409,399
1991 $5,344,000,000 $398,307,170
1990 $8,884,848,485 $392,163,561
1989 - $324,333,367
1988 - $301,985,618
1987 - $265,212,957
1986 - $221,147,061
1985 - $179,691,483
1984 - $160,992,921
1983 - $156,098,237
1982 - $157,211,790
1981 - $163,750,728
1980 - $156,783,830
1979 - $127,261,099
1978 - $85,552,366
1977 - $64,526,401
1976 - $49,278,982
1975 - $47,803,146
1974 - $43,134,496
1973 - $36,896,280
1972 - $30,645,123
1971 - $21,965,951
1970 - $18,432,032
1969 - $16,452,028
1968 - $16,074,028
1967 - $16,632,032
1966 - $16,443,034
1965 - $15,603,032
1964 - $15,393,032
1963 - $13,923,029
1962 - $12,642,026
1961 - $11,592,024
1960 - $12,012,025

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

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

GDP per capita in Azerbaijan vs Seychelles by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Seychelles
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Seychelles
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,284 $25,089 $17,859 $33,239
2023 $7,133 $23,652 $18,263 $31,781
2022 $7,771 $22,552 $16,837 $29,973
2021 $5,408 $20,111 $14,983 $29,980
2020 $4,230 $15,164 $14,041 $31,056
2019 $4,806 $16,675 $19,142 $34,219
2018 $4,740 $15,283 $18,440 $32,091
2017 $4,147 $14,316 $17,480 $30,675
2016 $3,881 $14,536 $16,567 $28,811
2015 $5,501 $15,075 $15,333 $25,435
2014 $7,891 $17,564 $15,188 $24,985
2013 $7,875 $17,268 $14,821 $22,487
2012 $7,496 $15,994 $12,337 $22,264
2011 $7,190 $14,805 $12,110 $21,781
2010 $5,844 $14,930 $10,935 $18,982
2009 $4,950 $14,246 $9,747 $18,453
2008 $5,574 $13,217 $11,265 $18,881
2007 $3,851 $11,974 $12,669 $19,473
2006 $2,473 $9,398 $12,783 $17,503
2005 $1,578 $6,855 $11,802 $15,846
2004 $1,045 $5,248 $10,828 $14,160
2003 $884 $4,718 $9,070 $14,142
2002 $763 $4,230 $8,864 $14,570
2001 $704 $3,835 $8,153 $14,615
2000 $655 $3,439 $8,064 $14,638
1999 $574 $3,052 $8,243 $13,853
1998 $562 $2,827 $8,210 $13,675
1997 $506 $2,565 $7,747 $13,458
1996 $409 $2,407 $7,004 $11,931
1995 $315 $2,357 $7,181 $10,809
1994 $157.1 $2,648 $6,975 $10,692
1993 $209.5 $3,272 $6,979 $11,020
1992 $60.2 $4,220 $6,520 $10,243
1991 $735 $5,412 $5,655 $9,387
1990 $1,238 $5,343 $5,642 $8,955
1989 - - $4,689 -
1988 - - $4,392 -
1987 - - $3,872 -
1986 - - $3,368 -
1985 - - $2,754 -
1984 - - $2,488 -
1983 - - $2,426 -
1982 - - $2,441 -
1981 - - $2,557 -
1980 - - $2,478 -
1979 - - $2,030 -
1978 - - $1,377 -
1977 - - $1,044 -
1976 - - $814 -
1975 - - $806 -
1974 - - $745 -
1973 - - $649 -
1972 - - $547 -
1971 - - $402 -
1970 - - $344 -
1969 - - $314 -
1968 - - $314 -
1967 - - $333 -
1966 - - $338 -
1965 - - $328 -
1964 - - $332 -
1963 - - $308 -
1962 - - $287 -
1961 - - $270.3 -
1960 - - $288.1 -

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

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

Azerbaijan's GDP per capita is $7,284, ranking 101/197, compared to $17,859 in the Seychelles, ranking 63/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while the Seychelles ranks 67th at $33,239.

Economic indicators

Azerbaijan Seychelles
Gross domestic product
$74.3B
2024
$2.17B
2024
GDP rank
84/197
2024
178/197
2024
GDP growth
4.07%
2023-2024
3.47%
2023-2024
GDP per capita
$7,284
2024
$17,859
2024
GDP per capita rank
101/197
2024
63/197
2024
GDP per capita, PPP
$25,089
2024
$33,239
2024
GDP per capita PPP rank
82/197
2024
67/197
2024
Government debt
$16.1B
2024
$1.25B
2024
Debt-to-GDP ratio
21.7%
2024
57.6%
2024
Government debt per person
$1,579
2024
$10,288
2024
Government debt per person rank
128/185
2024
57/185
2024
Average annual personal income after taxes
$6,324
2026
$10,944
2026
Market capitalization of domestic companies
$1.64B
2024
$811M
2024
Income share by richest 10%
24.2%
2005
23.9%
2018
Income share by poorest 10%
4.8%
2005
2.6%
2018
Government expenditure, % of GDP
33.9%
2024
33.8%
2024
Consumer prices inflation
2.21%
2023-2024
0.31%
2023-2024
Central bank interest rate
7%
2025
1.75%
2024
Unemployment rate
5.65%
2022
2.59%
2024
Population
10338778
126311

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Seychelles
Spending

Debt
1x
Year % of GDP
Azerbaijan Seychelles
Government spending Government debt Government spending Government debt
2024 33.9% 21.7% 33.8% 57.6%
2023 32.7% 21.8% 32.9% 55.3%
2022 26.2% 17.3% 31.3% 60%
2021 32.2% 26.3% 38.8% 71%
2020 40.2% 21.3% 46.7% 77.4%
2019 32.5% 17.7% 31.7% 48.9%
2018 33.2% 18.7% 33% 51.3%
2017 35.6% 22.5% 34.3% 56.7%
2016 35.4% 20.6% 34.5% 62.8%
2015 38.7% 18% 31.5% 64.7%
2014 36.4% 8.53% 33.4% 70.4%
2013 37.8% 6.18% 37.8% 68.2%
2012 36.6% 5.83% 38.6% 80.1%
2011 33.7% 4.97% 36.4% 82.5%
2010 32% 4.98% 34.6% 82.2%
2009 34.5% 4.73% 32.1% 106.1%
2008 31.4% 3.22% 27% 192.1%
2007 26.1% 4% 41.9% 144%
2006 25.3% 5.3% 43.6% 135.1%
2005 22.5% 6.85% 39% 144.1%
2004 24.2% 9.71% 39.9% 163.2%
2003 21.7% 10.7% 44.6% 177%
2002 23.1% 11.9% 56.3% 195.9%
2001 16.8% 13% 46.8% 199.8%
2000 18.2% 13.1% 55.4% 177.8%
1999 19.5% 25.4% 56.1% 159.8%
1998 18.7% 14.3% 60.7% 161.2%
1997 18.5% 11.4% 54.7% 143%
1996 19.8% 16.7% 59.1% 146.7%
1995 18.9% 19.2% 53.1% 133.5%
1994 14.7% 11.7% 63.6% 123.5%
1993 - - 60.4% 82.2%
1992 - - 50.7% 79.9%
1991 - - 52.1% 89.2%
1990 - - 46.1% 80.4%
1989 - - 51.7% 39.9%
1988 - - 46.7% 41.3%
1987 - - 49.7% 37%
1986 - - 58% 31.5%
1985 - - 53% 26.5%
1984 - - 50.5% 15.3%
1983 - - 47.9% 12.4%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1994, retrieved 2026-02-20).

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

In 2024, Azerbaijan's government spending was $25.2B, accounting for 33.9% of its GDP, while the Seychelles spent $732M, or 33.8% of GDP.

Debt-to-GDP ratio is 21.7% in Azerbaijan and 57.6% in the Seychelles, ranking 174/185 and 85/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Seychelles
1x
Year Deficit/surplus, % of GDP
Azerbaijan Seychelles
2024 4.06% -0.69%
2023 7.92% -1.14%
2022 5.96% -0.76%
2021 4.21% -5.76%
2020 -6.44% -15.7%
2019 8.95% 0.42%
2018 5.43% -0.8%
2017 -1.34% -1.67%
2016 -1.17% 0.02%
2015 -4.83% 1.39%
2014 2.74% 2.87%
2013 1.64% 0.33%
2012 3.71% 2.93%
2011 10.9% 3.36%
2010 13.8% 0.52%
2009 5.86% 4.84%
2008 17.2% 7.88%
2007 2.34% -9.93%
2006 0.66% -2.54%
2005 2.74% 0.42%
2004 1.78% 0.44%
2003 1.6% 3.4%
2002 19.4% -16.3%
2001 21.8% -8.93%
2000 0.14% -14.7%
1999 -1.03% -10.3%
1998 1.63% -16.7%
1997 -0.94% -5.91%
1996 -2.25% -9.69%
1995 -1.34% -2.58%
1994 3.21% -6.95%
1993 - -3.62%
1992 - 6.44%
1991 - 3.15%
1990 - 11.9%
1989 - 8.26%
1988 - 11.8%
1987 - 2.77%
1986 - -10.1%
1985 - -4.86%
1984 - -6.09%
1983 - -3.13%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1983–1989, retrieved 2026-02-20).

GeoRank.org/economy/azerbaijan/seychelles | 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 the Seychelles' deficit of $15M, or 0.69% of GDP.

Over the past 31 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while the Seychelles ran a deficit in 18 years. On average, Azerbaijan posted an annual surplus equal to 4.14% of GDP, compared to deficit of 3.3% of GDP for the Seychelles.

Inflation comparison by year

Inflation
Azerbaijan

Seychelles
1x
Year Consumer prices inflation
Azerbaijan Seychelles
2024 2.21% 0.31%
2023 8.79% -1.04%
2022 13.9% 2.63%
2021 6.65% 9.77%
2020 2.76% 1.2%
2019 2.61% 1.81%
2018 2.27% 3.7%
2017 12.9% 2.86%
2016 12.4% -1.02%
2015 4.03% 4.04%
2014 1.37% 1.39%
2013 2.42% 4.34%
2012 1.07% 7.11%
2011 7.86% 2.56%
2010 5.73% -2.4%
2009 1.46% 31.8%
2008 20.8% 37%
2007 16.7% 5.32%
2006 8.33% -0.35%
2005 9.68% 0.91%
2004 6.71% 3.86%
2003 2.23% 3.3%
2002 2.77% 0.18%
2001 1.55% 5.97%
2000 1.81% 6.27%
1999 -8.53% 6.35%
1998 -0.77% 2.58%
1997 3.67% 0.62%

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

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

Over the past 28 years, Azerbaijan has recorded an average annual inflation rate of 5.48%, compared with 5.03% in the Seychelles. In 2024, inflation was 2.21% in Azerbaijan and 0.31% in the Seychelles.

Top exports between countries

Azerbaijan
Export category Export value
Raw materials & minerals $2K
Seychelles
Export category Export value

Balance of trade

Azerbaijan Seychelles
Current account balance
$4.67B
2024
-$176M
2024
Current account balance ranking
34/190
2024
97/190
2024
Current account balance, % of GDP
+6.29%
2024
-8.11%
2024
Goods imports
$17.2B
2024
$1.39B
2024
Goods exports
$26B
2024
$595M
2024
Service imports
$10.2B
2024
$1B
2024
Service exports
$8.12B
2024
$1.71B
2024
Imports of goods and services, % of GDP
36.8%
2024
103.2%
2024
Exports of goods and services, % of GDP
45.9%
2024
85.2%
2024

Economic freedom indices

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

Azerbaijan Seychelles
Economic freedom 64.3 66.5
Economic freedom ranking 74/197 60/197
Property rights 53.3 82.6
Government integrity 23.6 71.7
Judicial effectiveness 16.5 61.7
Tax burden 87.9 77.3
Government spending 71.3 68
Fiscal health 99.1 92.2
Business freedom 71.2 71.3
Labor freedom 56.9 52
Monetary freedom 76 79.8
Trade freedom 75.8 81.2
Investment freedom 70 30
Financial freedom 70 30

Economic freedom comparison by year

Azerbaijan
Seychelles
1x
Year Economic freedom index
Azerbaijan Seychelles
2026 64.3 66.5
2025 62.5 66.4
2024 61.6 60.4
2023 61.4 59.5
2022 61.6 61.1
2021 70.1 66.3
2020 69.3 64.3
2019 65.4 61.4
2018 64.3 61.6
2017 63.6 61.8
2016 60.2 62.2
2015 61 57.5
2014 61.3 56.2
2013 59.7 54.9
2012 58.9 53
2011 59.7 51.2
2010 58.8 47.9
2009 58 47.8
2008 55.3 -
2007 54.6 -
2006 53.2 -
2005 54.4 -
2004 53.4 -
2003 54.1 -
2002 53.3 -
2001 50.3 -
2000 49.8 -
1999 47.4 -
1998 43.1 -
1997 34 -
1996 30 -

Data sources: The Heritage Foundation | Economic Freedom Index (1996–2026, retrieved 2026-03-09).

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 66.5 for the Seychelles, ranking 60/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Seychelles
Services, % of GDP
42.3%
2024
65.8%
2024
Industry, % of GDP
42.6%
2024
12.3%
2024
Agriculture, forestry, and fishing, % of GDP
5.66%
2024
2.45%
2024
GNI, Atlas method
$74.8B
2024
$2.12B
2024
GNI per capita, PPP
$24,220
2024
$32,180
2024
Total reserves including gold
$12.7B
2024
$774M
2024
Total reserves ranking
72/177
2024
145/177
2024
Net foreign direct investment
$511M
2024
-$262M
2024
Net inflows of foreign direct investment
$231M
2024
$226M
2024
Net outflows of foreign direct investment
$742M
2024
-$35.4M
2024
Servicing debt to the IMF, % of GNI
5.83%
2024
n/a
Poverty at national poverty lines
6%
2012
25.3%
2018
Gross capital formation, % of GDP
21.1%
2024
17.2%
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/seychelles | 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 (1996–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1983–1994, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. TradeMap (2020, retrieved 2026-02-08)

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.