Country Information provides a general overview of Azerbaijan and its economic situation as well as key facts about the country.
Azerbaijan is situated on the south-eastern part of the Caucasus, which stretches for more than 800 km from the Black to the Caspian Sea. Located at the crossroads of Europe and Asia, Azerbaijan has a great potential for transit, which is further enhanced by the well-developed road infrastructure. As a logistical hub of the region, Azerbaijan plays a significant role in the economic and cultural relations with the rest of the world.
The Oil & Gas sector is the core of Azerbaijan’s economy, accounting for 85.66% of the country’s total exports (Jan-Jun 2017). Currently, diversification of economy and promoting export potential are major goals of the government. The EU is the largest trade partner of Azerbaijan, with a 43% share in the country’s total exports and a 26% share in total imports. (2016) Germany ranks in the 6th place among Azerbaijan’s main trade partners, having a 4.3% share in Azerbaijan’s total trade turnover (Jan-Sep 2017).