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Economy of Azerbaijan vs Syria compared: GDP & Debt

Updated on by Georank team

Azerbaijan has a GDP of $74.3B compared to $20B for Syria, ranking 84/197 and 129/197 by economy size, respectively.

Azerbaijan has $16.1B in government debt (21.7% of GDP), compared to $18.4B (30% of GDP) in Syria.

Azerbaijan vs Syria GDP by year

Azerbaijan
Syria
1x
Year GDP, current $
Azerbaijan Syria
2024 $74,315,882,353 -
2023 $72,428,470,588 $19,993,439,950
2022 $78,807,470,588 $23,622,827,080
2021 $54,825,411,765 $14,353,205,678
2020 $42,693,000,000 $12,047,752,036
2019 $48,174,235,294 $22,583,045,060
2018 $47,112,470,052 $21,497,782,868
2017 $40,866,627,352 $16,369,843,352
2016 $37,866,996,883 $12,597,854,877
2015 $53,076,235,355 $16,466,863,117
2014 $75,239,785,452 $21,502,061,466
2013 $74,160,560,124 $21,361,254,635
2012 $69,679,944,504 $43,190,318,033
2011 $65,952,796,428 $67,539,428,159
2010 $52,909,294,792 $61,390,830,875
2009 $44,292,427,185 $54,111,735,629
2008 $48,851,293,785 $52,557,913,569
2007 $33,049,419,431 $40,465,318,382
2006 $20,981,929,498 $33,751,788,856
2005 $13,245,421,881 $28,858,965,517
2004 $8,680,405,741 $25,086,950,495
2003 $7,276,413,079 $21,828,144,686
2002 $6,236,087,738 $20,669,357,462
2001 $5,707,616,204 $20,237,024,725
2000 $5,272,615,723 $18,937,052,543
1999 $4,581,248,567 $15,873,875,969
1998 $4,446,368,571 $15,200,846,154
1997 $3,962,362,387 $14,505,233,463
1996 $3,176,507,376 $13,789,560,878
1995 $2,417,331,193 $11,396,706,587
1994 $1,193,141,110 $10,122,020,000
1993 $1,570,392,598 $13,695,962,055
1992 $444,658,672 $13,253,565,861
1991 $5,344,000,000 $12,981,833,333
1990 $8,884,848,485 $12,308,624,418
1989 - $9,853,395,762
1988 - $10,577,041,645
1987 - $11,356,215,543
1986 - $13,293,205,278
1985 - $16,403,539,893
1984 - $17,503,078,174
1983 - $17,589,277,143
1982 - $16,298,929,011
1981 - $15,518,201,335
1980 - $13,062,420,382
1979 - $9,929,681,529
1978 - $9,275,200,458
1977 - $7,696,011,396
1976 - $7,633,528,867
1975 - $6,826,980,444
1974 - $5,159,557,148
1973 - $3,239,487,516
1972 - $3,059,681,698
1971 - $2,589,851,325
1970 - $2,140,384,010
1969 - $2,245,011,515
1968 - $1,753,746,430
1967 - $1,580,229,799
1966 - $1,342,287,553
1965 - $1,472,036,540
1964 - $1,339,494,267
1963 - $1,200,447,408
1962 - $1,110,565,881
1961 - $945,244,972
1960 - $857,704,413

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

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

GDP per capita in Azerbaijan vs Syria by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Syria
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Syria
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,284 $25,089 - -
2023 $7,133 $23,652 $847 $4,650
2022 $7,771 $22,552 $1,052 $4,772
2021 $5,408 $20,111 $664 $4,593
2020 $4,230 $15,164 $572 $3,738
2019 $4,806 $16,675 $1,110 $3,502
2018 $4,740 $15,283 $1,098 $3,456
2017 $4,147 $14,316 $852 $3,265
2016 $3,881 $14,536 $656 -
2015 $5,501 $15,075 $848 -
2014 $7,891 $17,564 $1,061 -
2013 $7,875 $17,268 $986 -
2012 $7,496 $15,994 $1,898 -
2011 $7,190 $14,805 $2,952 -
2010 $5,844 $14,930 $2,731 -
2009 $4,950 $14,246 $2,462 -
2008 $5,574 $13,217 $2,429 -
2007 $3,851 $11,974 $1,938 -
2006 $2,473 $9,398 $1,719 -
2005 $1,578 $6,855 $1,534 -
2004 $1,045 $5,248 $1,368 -
2003 $884 $4,718 $1,220 -
2002 $763 $4,230 $1,183 -
2001 $704 $3,835 $1,187 -
2000 $655 $3,439 $1,138 -
1999 $574 $3,052 $978 -
1998 $562 $2,827 $961 -
1997 $506 $2,565 $941 -
1996 $409 $2,407 $918 -
1995 $315 $2,357 $780 -
1994 $157.1 $2,648 $712 -
1993 $209.5 $3,272 $993 -
1992 $60.2 $4,220 $990 -
1991 $735 $5,412 $1,000 -
1990 $1,238 $5,343 $978 -
1989 - - $809 -
1988 - - $898 -
1987 - - $997 -
1986 - - $1,208 -
1985 - - $1,544 -
1984 - - $1,706 -
1983 - - $1,776 -
1982 - - $1,703 -
1981 - - $1,676 -
1980 - - $1,458 -
1979 - - $1,146 -
1978 - - $1,108 -
1977 - - $951 -
1976 - - $976 -
1975 - - $904 -
1974 - - $707 -
1973 - - $459 -
1972 - - $448 -
1971 - - $393 -
1970 - - $335 -
1969 - - $364 -
1968 - - $293.3 -
1967 - - $272.9 -
1966 - - $239.3 -
1965 - - $270.8 -
1964 - - $254.2 -
1963 - - $234.9 -
1962 - - $223.9 -
1961 - - $196.3 -
1960 - - $183.5 -

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

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

Azerbaijan's GDP per capita is $7,284, ranking 101/197, compared to $847 in Syria, ranking 185/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Syria ranks 160th at $4,650.

Economic indicators

Azerbaijan Syria
Gross domestic product
$74.3B
2024
$20B
2023
GDP rank
84/197
2024
129/197
2023
GDP growth
4.07%
2023-2024
-1.21%
2022-2023
GDP per capita
$7,284
2024
$847
2023
GDP per capita rank
101/197
2024
185/197
2023
GDP per capita, PPP
$25,089
2024
$4,650
2023
GDP per capita PPP rank
82/197
2024
160/197
2023
Government debt
$16.1B
2024
$18.4B
2010
Debt-to-GDP ratio
21.7%
2024
30%
2010
Government debt per person
$1,579
2024
$820
2010
Government debt per person rank
128/185
2024
148/185
2010
Average annual personal income after taxes
$6,324
2026
$730
2026
Market capitalization of domestic companies
$1.64B
2024
n/a
Income share by richest 10%
24.2%
2005
21.1%
2022
Income share by poorest 10%
4.8%
2005
3.8%
2022
Government expenditure, % of GDP
33.9%
2024
28.6%
2010
Consumer prices inflation
2.21%
2023-2024
13.4%
2018-2019
Central bank interest rate
7%
2025
n/a
Unemployment rate
5.65%
2022
8.61%
2010
Population
10338778
26829400

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Syria
Spending

Debt
1x
Year % of GDP
Azerbaijan Syria
Government spending Government debt Government spending Government debt
2024 33.9% 21.7% - -
2023 32.7% 21.8% - -
2022 26.2% 17.3% - -
2021 32.2% 26.3% - -
2020 40.2% 21.3% - -
2019 32.5% 17.7% - -
2018 33.2% 18.7% - -
2017 35.6% 22.5% - -
2016 35.4% 20.6% - -
2015 38.7% 18% - -
2014 36.4% 8.53% - -
2013 37.8% 6.18% - -
2012 36.6% 5.83% - -
2011 33.7% 4.97% - -
2010 32% 4.98% 28.6% 30%
2009 34.5% 4.73% 26.7% 31.2%
2008 31.4% 3.22% 22.9% 37.3%
2007 26.1% 4% 25.7% 42.7%
2006 25.3% 5.3% 26.3% 45%
2005 22.5% 6.85% 28.2% 50.7%
2004 24.2% 9.71% 31.3% 113%
2003 21.7% 10.7% 32.6% 133.4%
2002 23.1% 11.9% 28.5% 132.4%
2001 16.8% 13% 28% 144.5%
2000 18.2% 13.1% 27.4% 152.1%
1999 19.5% 25.4% 28% 147.7%
1998 18.7% 14.3% 28.8% 151.2%
1997 18.5% 11.4% 29% 147.6%
1996 19.8% 16.7% 27.7% 141.5%
1995 18.9% 19.2% 29.8% 152.6%
1994 14.7% 11.7% 30.3% 163%
1993 - - 29.4% 171.9%
1992 - - 34.2% 173.6%
1991 - - 34.3% 182.4%
1990 - - 28.3% 189.8%

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/syria | CC BY

In 2024, Azerbaijan's government spending was $25.2B, accounting for 33.9% of its GDP, while Syria spent $17.6B, or 28.6% of GDP.

Debt-to-GDP ratio is 21.7% in Azerbaijan and 30% in Syria, ranking 174/185 and 157/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Syria
1x
Year Deficit/surplus, % of GDP
Azerbaijan Syria
2024 4.06% -
2023 7.92% -
2022 5.96% -
2021 4.21% -
2020 -6.44% -
2019 8.95% -
2018 5.43% -
2017 -1.34% -
2016 -1.17% -
2015 -4.83% -
2014 2.74% -
2013 1.64% -
2012 3.71% -
2011 10.9% -
2010 13.8% -7.79%
2009 5.86% -2.89%
2008 17.2% -2.86%
2007 2.34% -2.99%
2006 0.66% -1.12%
2005 2.74% -4.41%
2004 1.78% -4.18%
2003 1.6% -2.7%
2002 19.4% -2.02%
2001 21.8% 2.3%
2000 0.14% -1.36%
1999 -1.03% -1.47%
1998 1.63% -2.81%
1997 -0.94% -1.78%
1996 -2.25% -2.83%
1995 -1.34% -3.81%
1994 3.21% -6%
1993 - -4.96%
1992 - -7.26%
1991 - -6.57%
1990 - -3.92%

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

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

In 2010, Azerbaijan's government surplus, the difference between spending and revenue, was $7.32B, equivalent to 13.8% of GDP. This compares to Syria's deficit of $4.78B, or 7.79% of GDP.

Over the past 17 years, Azerbaijan recorded a fiscal deficit in 4 of those years, while Syria ran a deficit in 16 years. On average, Azerbaijan posted an annual surplus equal to 5.09% of GDP, compared to deficit of 2.87% of GDP for Syria.

Inflation comparison by year

Inflation
Azerbaijan

Syria
1x
Year Consumer prices inflation
Azerbaijan Syria
2024 2.21% -
2023 8.79% -
2022 13.9% -
2021 6.65% -
2020 2.76% -
2019 2.61% 13.4%
2018 2.27% 0.94%
2017 12.9% 18.1%
2016 12.4% 47.7%
2015 4.03% 38.5%
2014 1.37% 10.9%
2013 2.42% 40%
2012 1.07% 36.7%
2011 7.86% 4.75%
2010 5.73% 4.4%
2009 1.46% 2.92%
2008 20.8% 15.7%
2007 16.7% 3.91%
2006 8.33% 10%
2005 9.68% 7.24%
2004 6.71% 4.43%
2003 2.23% 5.8%
2002 2.77% -0.13%
2001 1.55% 3%
2000 1.81% -3.85%
1999 -8.53% -3.7%
1998 -0.77% -0.8%
1997 3.67% 1.89%

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

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

Over the past 23 years, Azerbaijan has recorded an average annual inflation rate of 5.18%, compared with 11.4% in Syria. In 2019, inflation was 2.21% in Azerbaijan and 13.4% in Syria.

Top exports between countries

Azerbaijan
Export category Export value
Processed food, beverages & tobacco $673K
Raw agricultural goods $333K
Raw materials & minerals $3K
Syria
Export category Export value
Textiles & consumer goods $2.92M
Chemicals & pharma $1.01M
Raw agricultural goods $289K
Processed food, beverages & tobacco $259K
Wood & paper products $73K
Metals $17K
Precious metals & jewellery $12K
Miscellaneous $5K

Balance of trade

Azerbaijan Syria
Current account balance
$4.67B
2024
-$367M
2010
Current account balance ranking
34/190
2024
103/190
2010
Current account balance, % of GDP
+6.29%
2024
-0.6%
2010
Goods imports
$17.2B
2024
$15.9B
2010
Goods exports
$26B
2024
$12.3B
2010
Service imports
$10.2B
2024
$3.53B
2010
Service exports
$8.12B
2024
$7.33B
2010
Imports of goods and services, % of GDP
36.8%
2024
28.8%
2022
Exports of goods and services, % of GDP
45.9%
2024
6.81%
2022

Economic freedom indices

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

Azerbaijan Syria
Economic freedom 64.3 51.2
Economic freedom ranking 74/197 155/197
Property rights 53.3 4
Government integrity 23.6 3.6
Judicial effectiveness 16.5 3.7
Tax burden 87.9 87.3
Government spending 71.3 78.5
Fiscal health 99.1 13.8
Business freedom 71.2 33.8
Labor freedom 56.9 37.2
Monetary freedom 76 80
Trade freedom 75.8 47
Investment freedom 70 0
Financial freedom 70 20

Economic freedom comparison by year

Azerbaijan
Syria
1x
Year Economic freedom index
Azerbaijan Syria
2026 64.3 -
2025 62.5 -
2024 61.6 -
2023 61.4 -
2022 61.6 -
2021 70.1 -
2020 69.3 -
2019 65.4 -
2018 64.3 -
2017 63.6 -
2016 60.2 -
2015 61 -
2014 61.3 -
2013 59.7 -
2012 58.9 51.2
2011 59.7 51.3
2010 58.8 49.4
2009 58 51.3
2008 55.3 47.2
2007 54.6 48.3
2006 53.2 51.2
2005 54.4 46.3
2004 53.4 40.6
2003 54.1 41.3
2002 53.3 36.3
2001 50.3 36.6
2000 49.8 37.2
1999 47.4 39
1998 43.1 42.2
1997 34 43
1996 30 42.3

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

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 51.2 for Syria, ranking 155/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Syria
Services, % of GDP
42.3%
2024
44.9%
2022
Industry, % of GDP
42.6%
2024
12%
2022
Agriculture, forestry, and fishing, % of GDP
5.66%
2024
43.1%
2022
GNI, Atlas method
$74.8B
2024
$18.2B
2023
GNI per capita, PPP
$24,220
2024
$4,480
2023
Total reserves including gold
$12.7B
2024
$20.6B
2010
Total reserves ranking
72/177
2024
62/177
2010
Net foreign direct investment
$511M
2024
-$1.47B
2010
Net inflows of foreign direct investment
$231M
2024
$0
2024
Net outflows of foreign direct investment
$742M
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.83%
2024
0.15%
2023
Poverty at national poverty lines
6%
2012
35.2%
2007
Gross capital formation, % of GDP
21.1%
2024
16%
1969

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/syria | 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. TradeMap (2010–2024, 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.