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Economy of Azerbaijan vs Tanzania compared: GDP & Debt

Updated on by Georank team

Azerbaijan has a GDP of $74.3B compared to $78.8B for Tanzania, ranking 84/197 and 82/197 by economy size, respectively.

Azerbaijan has $16.1B in government debt (21.7% of GDP), compared to $39.3B (49.9% of GDP) in Tanzania.

Azerbaijan vs Tanzania GDP by year

Azerbaijan
Tanzania
1x
Year GDP, current $
Azerbaijan Tanzania
2024 $74,315,882,353 $78,844,405,385
2023 $72,428,470,588 $79,030,935,627
2022 $78,807,470,588 $75,749,121,843
2021 $54,825,411,765 $70,655,628,148
2020 $42,693,000,000 $66,068,737,786
2019 $48,174,235,294 $61,026,731,926
2018 $47,112,470,052 $57,003,712,892
2017 $40,866,627,352 $53,274,884,533
2016 $37,866,996,883 $49,774,409,374
2015 $53,076,235,355 $47,413,919,817
2014 $75,239,785,452 $49,986,726,461
2013 $74,160,560,124 $45,648,857,242
2012 $69,679,944,504 $39,650,394,363
2011 $65,952,796,428 $34,657,140,096
2010 $52,909,294,792 $32,012,892,919
2009 $44,292,427,185 $29,400,573,554
2008 $48,851,293,785 $27,947,821,398
2007 $33,049,419,431 $21,860,434,823
2006 $20,981,929,498 $18,619,859,795
2005 $13,245,421,881 $18,395,383,647
2004 $8,680,405,741 $16,673,062,473
2003 $7,276,413,079 $15,211,487,709
2002 $6,236,087,738 $14,129,651,896
2001 $5,707,616,204 $13,563,990,022
2000 $5,272,615,723 $13,371,767,082
1999 $4,581,248,567 $12,704,334,196
1998 $4,446,368,571 $12,172,790,056
1997 $3,962,362,387 $11,158,197,942
1996 $3,176,507,376 $9,433,528,150
1995 $2,417,331,193 $7,631,431,840
1994 $1,193,141,110 $6,550,480,484
1993 $1,570,392,598 $6,182,872,708
1992 $444,658,672 $6,681,997,469
1991 $5,344,000,000 $7,197,768,159
1990 $8,884,848,485 $6,184,384,225
1989 - $6,418,799,007
1988 - $7,406,614,407
1987 - $7,824,193,222
1986 - $10,840,864,521
1985 - $15,328,295,175
1984 - $12,906,635,133
1983 - $14,049,883,809
1982 - $13,927,383,240
1981 - $13,161,540,378
1980 - $11,409,228,087
1979 - $9,804,637,491
1978 - $9,261,675,710
1977 - $7,732,598,995
1976 - $6,472,511,988
1975 - $5,729,917,840
1974 - $4,977,337,978
1973 - $4,144,104,535
1972 - $3,472,787,266
1971 - $3,050,673,517
1970 - $2,851,419,386
1969 - $5,142,066,811
1968 - $4,895,251,824
1967 - $4,565,132,048
1966 - $4,377,998,825
1965 - $3,817,226,546
1964 - $3,748,840,925
1963 - $3,456,579,293
1962 - $3,101,589,993
1961 - $2,826,179,031
1960 - $2,651,729,807

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

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

GDP per capita in Azerbaijan vs Tanzania by year

Azerbaijan
GDP per capita

GDP per capita, PPP
Tanzania
GDP per capita

GDP per capita, PPP
1x
Year Current $
Azerbaijan Tanzania
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $7,284 $25,089 $1,150 $4,221
2023 $7,133 $23,652 $1,186 $4,019
2022 $7,771 $22,552 $1,171 $3,800
2021 $5,408 $20,111 $1,125 $3,493
2020 $4,230 $15,164 $1,084 $3,291
2019 $4,806 $16,675 $1,031 $2,982
2018 $4,740 $15,283 $992 $2,728
2017 $4,147 $14,316 $957 $2,472
2016 $3,881 $14,536 $925 $2,435
2015 $5,501 $15,075 $911 $2,317
2014 $7,891 $17,564 $993 $2,221
2013 $7,875 $17,268 $935 $2,176
2012 $7,496 $15,994 $837 $2,083
2011 $7,190 $14,805 $753 $2,211
2010 $5,844 $14,930 $715 $2,069
2009 $4,950 $14,246 $674 $1,972
2008 $5,574 $13,217 $657 $1,908
2007 $3,851 $11,974 $528 $1,820
2006 $2,473 $9,398 $462 $1,707
2005 $1,578 $6,855 $469 $1,598
2004 $1,045 $5,248 $438 $1,482
2003 $884 $4,718 $410 $1,379
2002 $763 $4,230 $391 $1,302
2001 $704 $3,835 $385 $1,229
2000 $655 $3,439 $390 $1,164
1999 $574 $3,052 $382 $1,120
1998 $562 $2,827 $375 $1,082
1997 $506 $2,565 $353 $1,059
1996 $409 $2,407 $305 $1,026
1995 $315 $2,357 $251.2 $981
1994 $157.1 $2,648 $222.5 $958
1993 $209.5 $3,272 $218.2 $959
1992 $60.2 $4,220 $243.4 $955
1991 $735 $5,412 $268.8 $952
1990 $1,238 $5,343 $236.9 $925
1989 - - $252.3 -
1988 - - $299 -
1987 - - $326 -
1986 - - $466 -
1985 - - $681 -
1984 - - $593 -
1983 - - $667 -
1982 - - $683 -
1981 - - $665 -
1980 - - $595 -
1979 - - $527 -
1978 - - $515 -
1977 - - $446 -
1976 - - $387 -
1975 - - $355 -
1974 - - $320 -
1973 - - $276.1 -
1972 - - $239.8 -
1971 - - $218.4 -
1970 - - $211.3 -
1969 - - $394 -
1968 - - $388 -
1967 - - $374 -
1966 - - $370 -
1965 - - $333 -
1964 - - $337 -
1963 - - $320 -
1962 - - $295.7 -
1961 - - $277.4 -
1960 - - $267.8 -

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

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

Azerbaijan's GDP per capita is $7,284, ranking 101/197, compared to $1,150 in Tanzania, ranking 170/197. Adjusted for purchasing power (GDP per capita PPP), Azerbaijan ranks 82nd at $25,089, while Tanzania ranks 165th at $4,221.

Economic indicators

Azerbaijan Tanzania
Gross domestic product
$74.3B
2024
$78.8B
2024
GDP rank
84/197
2024
82/197
2024
GDP growth
4.07%
2023-2024
5.53%
2023-2024
GDP per capita
$7,284
2024
$1,150
2024
GDP per capita rank
101/197
2024
170/197
2024
GDP per capita, PPP
$25,089
2024
$4,221
2024
GDP per capita PPP rank
82/197
2024
165/197
2024
Government debt
$16.1B
2024
$39.3B
2024
Debt-to-GDP ratio
21.7%
2024
49.9%
2024
Government debt per person
$1,579
2024
$573
2024
Government debt per person rank
128/185
2024
160/185
2024
Average annual personal income after taxes
$6,324
2026
$2,309
2026
Market capitalization of domestic companies
$1.64B
2024
$7.32B
2024
Number of billionaires n/a
1
2025
Income share by richest 10%
24.2%
2005
33.1%
2018
Income share by poorest 10%
4.8%
2005
2.9%
2018
Government expenditure, % of GDP
33.9%
2024
19.1%
2024
Consumer prices inflation
2.21%
2023-2024
3.06%
2023-2024
Central bank interest rate
7%
2025
6%
2024
Unemployment rate
5.65%
2022
2.43%
2024
Population
10338778
73145892

Spending and national debt comparison by year

Azerbaijan
Spending

Debt
Tanzania
Spending

Debt
1x
Year % of GDP
Azerbaijan Tanzania
Government spending Government debt Government spending Government debt
2024 33.9% 21.7% 19.1% 49.9%
2023 32.7% 21.8% 19% 47.8%
2022 26.2% 17.3% 19.1% 44.9%
2021 32.2% 26.3% 18.4% 43.4%
2020 40.2% 21.3% 17.4% 41.3%
2019 32.5% 17.7% 17.3% 40.4%
2018 33.2% 18.7% 17.3% 42%
2017 35.6% 22.5% 16.4% 40.1%
2016 35.4% 20.6% 16.9% 39.8%
2015 38.7% 18% 17.2% 39.5%
2014 36.4% 8.53% 17.3% 36.4%
2013 37.8% 6.18% 18.8% 32.7%
2012 36.6% 5.83% 19.6% 30%
2011 33.7% 4.97% 19% 28.4%
2010 32% 4.98% 19.8% 27.6%
2009 34.5% 4.73% 19.6% 23.9%
2008 31.4% 3.22% 18.1% 21.6%
2007 26.1% 4% 17.8% 23.8%
2006 25.3% 5.3% 17.6% 17.4%
2005 22.5% 6.85% 18.3% 25.4%
2004 24.2% 9.71% 17% 44.5%
2003 21.7% 10.7% 15.4% 44.4%
2002 23.1% 11.9% 13.6% 47.4%
2001 16.8% 13% 12.4% 50.8%
2000 18.2% 13.1% 12.3% 55.4%
1999 19.5% 25.4% 12.8% 62.9%
1998 18.7% 14.3% 11.4% 62.2%
1997 18.5% 11.4% 12.8% 73.4%
1996 19.8% 16.7% 13.4% 89.6%
1995 18.9% 19.2% 15.6% 111.1%
1994 14.7% 11.7% 16.8% 126%
1993 - - 16.4% 129.2%
1992 - - 17.6% 117.6%
1991 - - 14.2% 106.5%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-02-20).

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

In 2024, Azerbaijan's government spending was $25.2B, accounting for 33.9% of its GDP, while Tanzania spent $15.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 21.7% in Azerbaijan and 49.9% in Tanzania, ranking 174/185 and 109/185, respectively.

Government deficit by year

Deficit/surplus
Azerbaijan

Tanzania
1x
Year Deficit/surplus, % of GDP
Azerbaijan Tanzania
2024 4.06% -3.03%
2023 7.92% -3.67%
2022 5.96% -3.92%
2021 4.21% -3.55%
2020 -6.44% -2.56%
2019 8.95% -2.06%
2018 5.43% -2.01%
2017 -1.34% -1.14%
2016 -1.17% -2.08%
2015 -4.83% -3.17%
2014 2.74% -2.91%
2013 1.64% -3.76%
2012 3.71% -4%
2011 10.9% -3.51%
2010 13.8% -4.74%
2009 5.86% -4.46%
2008 17.2% -1.92%
2007 2.34% -1.44%
2006 0.66% -3.38%
2005 2.74% -3.28%
2004 1.78% -2.43%
2003 1.6% -1.77%
2002 19.4% -0.73%
2001 21.8% -0.41%
2000 0.14% -0.73%
1999 -1.03% -1.14%
1998 1.63% 0.13%
1997 -0.94% -0.03%
1996 -2.25% 1.57%
1995 -1.34% -2.12%
1994 3.21% -3.74%
1993 - -2.02%
1992 - -4.96%
1991 - 0.6%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/azerbaijan/tanzania | 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 Tanzania's deficit of $2.39B, or 3.03% of GDP.

Over the past 31 years, Azerbaijan recorded a fiscal deficit in 8 of those years, while Tanzania ran a deficit in 29 years. On average, Azerbaijan posted an annual surplus equal to 4.14% of GDP, compared to deficit of 2.32% of GDP for Tanzania.

Inflation comparison by year

Inflation
Azerbaijan

Tanzania
1x
Year Consumer prices inflation
Azerbaijan Tanzania
2024 2.21% 3.06%
2023 8.79% 3.8%
2022 13.9% 4.35%
2021 6.65% 3.69%
2020 2.76% 3.29%
2019 2.61% 3.46%
2018 2.27% 3.49%
2017 12.9% 5.32%
2016 12.4% 5.17%
2015 4.03% 5.59%
2014 1.37% 6.13%
2013 2.42% 7.87%
2012 1.07% 16%
2011 7.86% 12.7%
2010 5.73% 6.2%
2009 1.46% 12.1%
2008 20.8% 10.3%
2007 16.7% 7.03%
2006 8.33% 7.25%
2005 9.68% 5.03%
2004 6.71% 4.74%
2003 2.23% 5.3%
2002 2.77% 5.32%
2001 1.55% 5.15%
2000 1.81% 5.92%
1999 -8.53% 7.89%
1998 -0.77% 12.8%
1997 3.67% 16.1%

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

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

Over the past 28 years, Azerbaijan has recorded an average annual inflation rate of 5.48%, compared with 6.97% in Tanzania. In 2024, inflation was 2.21% in Azerbaijan and 3.06% in Tanzania.

Top exports between countries

Azerbaijan
Export category Export value
Machinery & equipment $49K
Tanzania
Export category Export value
Processed food, beverages & tobacco $1.24M
Machinery & equipment $13K
Animal & marine products $7K

Balance of trade

Azerbaijan Tanzania
Current account balance
$4.67B
2024
-$2.38B
2024
Current account balance ranking
34/190
2024
147/190
2024
Current account balance, % of GDP
+6.29%
2024
-3.02%
2024
Goods imports
$17.2B
2024
$14.2B
2024
Goods exports
$26B
2024
$9.12B
2024
Service imports
$10.2B
2024
$2.8B
2024
Service exports
$8.12B
2024
$6.85B
2024
Imports of goods and services, % of GDP
36.8%
2024
21.7%
2024
Exports of goods and services, % of GDP
45.9%
2024
19.8%
2024

Economic freedom indices

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

Azerbaijan Tanzania
Economic freedom 64.3 59
Economic freedom ranking 74/197 106/197
Property rights 53.3 45.2
Government integrity 23.6 40.9
Judicial effectiveness 16.5 29.6
Tax burden 87.9 80.4
Government spending 71.3 89.1
Fiscal health 99.1 75
Business freedom 71.2 48.1
Labor freedom 56.9 62.3
Monetary freedom 76 73.4
Trade freedom 75.8 58.8
Investment freedom 70 55
Financial freedom 70 50

Economic freedom comparison by year

Azerbaijan
Tanzania
1x
Year Economic freedom index
Azerbaijan Tanzania
2026 64.3 59
2025 62.5 59.3
2024 61.6 59.1
2023 61.4 60
2022 61.6 59.5
2021 70.1 61.3
2020 69.3 61.7
2019 65.4 60.2
2018 64.3 59.9
2017 63.6 58.6
2016 60.2 58.5
2015 61 57.5
2014 61.3 57.8
2013 59.7 57.9
2012 58.9 57
2011 59.7 57
2010 58.8 58.3
2009 58 58.3
2008 55.3 56.5
2007 54.6 56.8
2006 53.2 58.5
2005 54.4 56.3
2004 53.4 60.1
2003 54.1 56.9
2002 53.3 58.3
2001 50.3 54.9
2000 49.8 56
1999 47.4 60
1998 43.1 59.6
1997 34 59.3
1996 30 57.5
1995 - 57.3

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

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

The Economic Freedom Index for Azerbaijan is 64.3, ranking 74/197, compared to 59 for Tanzania, ranking 106/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Azerbaijan Tanzania
Services, % of GDP
42.3%
2024
29.6%
2024
Industry, % of GDP
42.6%
2024
28.6%
2024
Agriculture, forestry, and fishing, % of GDP
5.66%
2024
23.3%
2024
GNI, Atlas method
$74.8B
2024
$80.2B
2024
GNI per capita, PPP
$24,220
2024
$4,130
2024
Total reserves including gold
$12.7B
2024
$5.05B
2018
Total reserves ranking
72/177
2024
101/177
2018
Net foreign direct investment
$511M
2024
-$1.72B
2024
Net inflows of foreign direct investment
$231M
2024
$1.72B
2024
Net outflows of foreign direct investment
$742M
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.83%
2024
2.57%
2024
Poverty at national poverty lines
6%
2012
26.4%
2018
Gross capital formation, % of GDP
21.1%
2024
39.8%
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/tanzania | 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 (1991–2024, 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. International Monetary Fund (IMF) | Public Finances in Modern History (1991–2000, retrieved 2026-02-20)
  6. TradeMap (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

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.