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Economy of Azerbaijan vs Vatican compared: GDP & Debt

Updated on by Georank team

Azerbaijan has a GDP of $74.3B compared to $19.8M for the Vatican, ranking 84/197 and 197/197 by economy size, respectively.

Azerbaijan vs Vatican GDP by year

Azerbaijan
Vatican
1x
Year GDP, current $
Azerbaijan Vatican
2024 $74,315,882,353 -
2023 $72,428,470,588 -
2022 $78,807,470,588 -
2021 $54,825,411,765 -
2020 $42,693,000,000 -
2019 $48,174,235,294 -
2018 $47,112,470,052 -
2017 $40,866,627,352 -
2016 $37,866,996,883 -
2015 $53,076,235,355 -
2014 $75,239,785,452 -
2013 $74,160,560,124 -
2012 $69,679,944,504 -
2011 $65,952,796,428 -
2010 $52,909,294,792 -
2009 $44,292,427,185 -
2008 $48,851,293,785 -
2007 $33,049,419,431 -
2006 $20,981,929,498 -
2005 $13,245,421,881 -
2004 $8,680,405,741 -
2003 $7,276,413,079 -
2002 $6,236,087,738 -
2001 $5,707,616,204 -
2000 $5,272,615,723 -
1999 $4,581,248,567 -
1998 $4,446,368,571 -
1997 $3,962,362,387 -
1996 $3,176,507,376 -
1995 $2,417,331,193 -
1994 $1,193,141,110 -
1993 $1,570,392,598 -
1992 $444,658,672 -
1991 $5,344,000,000 -
1990 $8,884,848,485 -

Data sources: World Bank | Economy & Growth (1990–2024, retrieved 2026-04-06).

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

Economic indicators

Azerbaijan Vatican
Gross domestic product
$74.3B
2024
$19.8M
2025
GDP rank
84/197
2024
197/197
2025
GDP growth
4.07%
2023-2024
n/a
GDP per capita
$7,284
2024
$19,800
2025
GDP per capita rank
101/197
2024
59/197
2025
GDP per capita, PPP
$25,089
2024
$39,191
2025
GDP per capita PPP rank
82/197
2024
59/197
2025
Government debt
$16.1B
2024
n/a
Debt-to-GDP ratio
21.7%
2024
n/a
Government debt per person
$1,579
2024
n/a
Government debt per person rank
128/185
2024
n/a
Average annual personal income after taxes
$6,324
2026
$18,169
2026
Market capitalization of domestic companies
$1.64B
2024
n/a
Income share by richest 10%
24.2%
2005
n/a
Income share by poorest 10%
4.8%
2005
n/a
Government expenditure, % of GDP
33.9%
2024
n/a
Consumer prices inflation
2.21%
2023-2024
n/a
Central bank interest rate
7%
2025
n/a
Unemployment rate
5.65%
2022
n/a
Population
10338778
936

Balance of trade

Azerbaijan Vatican
Current account balance
$4.67B
2024
n/a
Current account balance ranking
34/190
2024
n/a
Current account balance, % of GDP
+6.29%
2024
n/a
Goods imports
$17.2B
2024
n/a
Goods exports
$26B
2024
n/a
Service imports
$10.2B
2024
n/a
Service exports
$8.12B
2024
n/a
Imports of goods and services, % of GDP
36.8%
2024
n/a
Exports of goods and services, % of GDP
45.9%
2024
n/a

Economic freedom indices

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

Azerbaijan Vatican
Economic freedom 64.3 65
Economic freedom ranking 74/197 69/197
Property rights 53.3 n/a
Government integrity 23.6 n/a
Judicial effectiveness 16.5 n/a
Tax burden 87.9 n/a
Government spending 71.3 n/a
Fiscal health 99.1 n/a
Business freedom 71.2 n/a
Labor freedom 56.9 n/a
Monetary freedom 76 n/a
Trade freedom 75.8 n/a
Investment freedom 70 n/a
Financial freedom 70 n/a

Other economic metrics

Azerbaijan Vatican
Services, % of GDP
42.3%
2024
n/a
Industry, % of GDP
42.6%
2024
n/a
Agriculture, forestry, and fishing, % of GDP
5.66%
2024
n/a
GNI, Atlas method
$74.8B
2024
n/a
GNI per capita, PPP
$24,220
2024
n/a
Total reserves including gold
$12.7B
2024
n/a
Total reserves ranking
72/177
2024
n/a
Net foreign direct investment
$511M
2024
n/a
Net inflows of foreign direct investment
$231M
2024
n/a
Net outflows of foreign direct investment
$742M
2024
n/a
Servicing debt to the IMF, % of GNI
5.83%
2024
n/a
Poverty at national poverty lines
6%
2012
n/a
Gross capital formation, % of GDP
21.1%
2024
n/a

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/vatican | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06)
  2. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  3. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  4. International Monetary Fund (IMF) | Fiscal Monitor (2024, retrieved 2026-02-20)
  5. Central Intelligence Agency (CIA) (2019–2025, retrieved 2026-02-20)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. 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.