• GDP: US$31.32 billion (2007).
• Main exports: Oil and oil products, gas, cotton.
• Main imports: Machinery and equipment, metals, chemicals and foodstuffs.
• Main trade partners: Italy, Israel, Georgia, Russia and Turkey.

Azerbaijan's economy is centered on its large oil and gas industry. Most of the reserves are located in the Caspian Sea basin and the Azeri government has signed a number of major deals with a variety of consortia for the exploration and development of various offshore fields. A pipeline transporting Azeri oil directly to the Mediterranean for transport to European and US markets began delivery in 2006. In the last few years, the contribution of the service sector (especially transport, telecommunications and trade-related activities) has grown sharply and now accounts for a large part of the economy.

Inflation was at 16.6% in 2007, with unemployment at 4.3% and growth at 25%.

US-Azerbaijan Chamber of Commerce
1212 Potomac Street, NW, Washington DC 20007, USA
Tel: (202) 333 8702.
Website: www.usacc.org

Chamber of Commerce and Industry
Istiglaliyat kucesi 31-33, 370001 Baku, Azerbaijan
Tel: (12) 928 912.