Azerbaijan Real GDP
Azerbaijan's real GDP rose to $59.9 billion in 2024, up from $57.56 billion in 2023, according to World Bank. This represents an increase of 4.1% ($2.34 billion) from the previous year and accounts for 0.06% of the world's total real GDP. Azerbaijan has real GDP higher than the global median ($59.90 billion vs median $29.34 billion). Compared with the median in Asia, Azerbaijan is lower ($59.90 billion vs regional median $91.45 billion) and ranks 26th out of 47 countries in Asia.
Azerbaijan's GDP per capita rose to $5,871.13 in 2024, up from $5,668.61 in 2023.
Yearly Historical Data (1990-2024)
(in Billion USD)Azerbaijan Real GDP : Definition
Real GDP is defined as the value of all goods and services produced in Azerbaijan, measured in US dollars adjusted to 2015 prices. By fixing prices to a base year, it removes the effect of inflation, so this represents real GDP rather than nominal GDP.