Data Summary
| 1996 a | 1997 a | 1998 a | 1999 a | 2000 b | 2001 c | 2002 c | 2003 c | 2004 c | 2005 c | |
| Real expenditure on GDP (Manat bn at constant 1998 prices) | ||||||||||
| GDP | 13,192 | 13,957 | 15,353 | 16,489 | 18,324 | 19,803 | 21,532 | 23,250 | 24,979 | 26,846 |
| Private consumption | 11,687 | 10,240 | 12,391 | 12,391 | 13,010 | 13,531 | 14,072 | 14,635 | 15,293 | 16,058 |
| Government consumption | 1,372 | 1,737 | 1,743 | 1,752 | 1,787 | 1,826 | 1,881 | 1,937 | 1,996 | 2,055 |
| Gross fixed investment | 3,717 | 6,166 | 7,465 | 6,151 | 6,299 | 7,811 | 9,373 | 11,060 | 12,387 | 13,626 |
| Exports of goods & services | 2,366 | 3,444 | 3,058 | 4,433 | 5,653 | 6,048 | 6,593 | 6,856 | 7,405 | 8,294 |
| Imports of goods & services | 6,237 | 7,617 | 9,249 | 8,232 | 8,635 | 9,628 | 10,687 | 11,542 | 12,465 | 13,587 |
| Stockbuilding | 287 | Ð12 | Ð55 | Ð391 | 210 | 215 | 300 | 303 | 364 | 400 |
| Domestic demand | 17,063 | 18,130 | 21,544 | 19,903 | 21,306 | 23,383 | 25,626 | 27,935 | 30,040 | 32,139 |
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| Real expenditure on GDP (% change) | ||||||||||
| GDP | 1.3 | 5.8 | 10.0 | 7.4 | 11.1 a | 8.1 | 8.7 | 8.0 | 7.4 | 7.5 |
| Private consumption | 13.6 | Ð12.4 | 21.0 | 0.0 | 5.0 | 4.0 | 4.0 | 4.0 | 4.5 | 5.0 |
| Government consumption | 1.1 | 26.6 | 0.4 | 0.5 | 2.0 | 2.2 | 3.0 | 3.0 | 3.0 | 3.0 |
| Gross fixed investment | 36.7 | 65.9 | 21.1 | Ð17.6 | 2.4 a | 24.0 | 20.0 | 18.0 | 12.0 | 10.0 |
| Exports of goods & services | Ð8.3 | 45.6 | Ð11.2 | 45.0 | 27.5 | 7.0 | 9.0 | 4.0 | 8.0 | 12.0 |
| Imports of goods & services | 27.1 | 22.1 | 21.4 | Ð11.0 | 4.9 | 11.5 | 11.0 | 8.0 | 8.0 | 9.0 |
| Stockbuilding (% contribution to growth) | Ð5.3 | Ð2.3 | Ð0.3 | Ð2.2 | 3.6 | 0.0 | 0.4 | 0.0 | 0.3 | 0.1 |
| Domestic demand | 11.2 | 6.3 | 18.8 | Ð7.6 | 7.1 | 9.7 | 9.6 | 9.0 | 7.5 | 7.0 |
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| Origin of GDP (Manat bn at constant 1998 prices) | ||||||||||
| GDP | 12,263 | 12,974 | 14,272 | 15,328 | 17,033 | 18,408 | 20,015 | 21,612 | 23,220 | 24,955 |
| Agriculture | 3,130 | 2,914 | 3,094 | 3,314 | 3,715 | 3,975 | 4,253 | 4,594 | 4,961 | 5,358 |
| Industry | 3,501 | 3,512 | 3,593 | 3,722 | 3,979 | 4,217 | 4,492 | 4,806 | 5,142 | 5,759 |
| Services | 5,632 | 6,549 | 7,585 | 8,292 | 9,340 | 10,216 | 11,270 | 12,213 | 13,117 | 13,838 |
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| Origin of GDP (real % change) | ||||||||||
| Agriculture | 3.0 | Ð6.9 | 6.2 | 7.1 | 12.1 a | 7.0 | 7.0 | 8.0 | 8.0 | 8.0 |
| Industry | Ð6.7 | 0.3 | 2.3 | 3.6 | 6.9 a | 6.0 | 6.5 | 7.0 | 7.0 | 12.0 |
| Services | 6.0 | 16.3 | 15.8 | 9.3 | 12.6 a | 9.4 | 10.3 | 8.4 | 7.4 | 5.5 |
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| Population, income and market size | ||||||||||
| Population (m) | 7.8 | 7.9 | 8.0 | 8.0 | 8.1 a | 8.1 | 8.2 | 8.2 | 8.3 | 8.3 |
| GDP (US$ bn at market exchange rates) | 3.2 | 4.0 | 4.2 | 4.0 | 5.3 a | 5.5 | 5.9 | 6.4 | 6.9 | 7.5 |
| GDP per head (US$ at market exchange rates) | 410 | 500 | 530 | 500 | 650 a | 680 | 720 | 770 | 830 | 900 |
| Private consumption (US$ bn) | 2.8 | 2.8 | 3.2 | 3.1 | 3.1 | 3.2 | 3.3 | 3.6 | 3.8 | 4.1 |
| Private consumption per head (US$) | 360 | 350 | 410 | 380 | 380 | 390 | 410 | 430 | 460 | 490 |
| GDP (US$ bn at PPP) | 7.5 | 8.1 | 9.0 | 9.9 | 11.2 | 12.5 | 13.8 | 15.0 | 16.4 | 18.2 |
| GDP per head (US$ at PPP) | 970 | 1,030 | 1,140 | 1,230 | 1,380 | 1,540 | 1,690 | 1,820 | 1,990 | 2,190 |
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| Economic structure (% of GDP at current market prices) | ||||||||||
| Private consumption | 89.0 | 69.5 | 77.2 | 76.7 | 58.6 | 57.5 | 56.4 | 55.9 | 55.0 | 55.0 |
| Government consumption | 10.4 | 11.8 | 10.9 | 13.0 | 9.4 | 8.9 | 8.4 | 8.0 | 7.7 | 7.4 |
| Gross fixed investment | 29.3 | 42.8 | 46.2 | 32.5 | 23.6 | 27.1 | 29.9 | 32.7 | 34.1 | 34.9 |
| Stockbuilding | 2.3 | Ð0.1 | Ð0.3 | Ð4.6 | 16.3 | 16.3 | 16.1 | 15.5 | 15.8 | 14.9 |
| Exports of goods & services | 24.9 | 29.0 | 24.1 | 34.1 | 30.5 | 29.9 | 29.7 | 28.3 | 28.2 | 29.1 |
| Imports of goods & services | 56.0 | 53.0 | 58.0 | 51.6 | 38.4 | 39.6 | 40.5 | 40.5 | 40.7 | 41.3 |
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| Origin of GDP (% of factor cost GDP) | ||||||||||
| Agriculture | 24.8 | 20.0 | 20.0 | 21.7 | 18.3 | 15.3 | 15.0 | 15.0 | 15.1 | 15.2 |
| Industry | 35.2 | 37.0 | 39.7 | 32.9 | 25.6 | 25.2 | 24.7 | 24.5 | 24.4 | 25.5 |
| Services | 30.0 | 35.6 | 33.6 | 45.4 | 59.0 | 59.7 | 60.6 | 60.8 | 60.8 | 59.7 |
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| Policy indicators (% of GDP) | ||||||||||
| General government expenditure | 20.3 | 20.8 | 21.2 | 24.9 | 19.2 | 19.9 | 19.8 | 19.9 | 20.2 | 20.5 |
| General government revenue | 17.6 | 19.1 | 17.0 | 19.4 | 17.5 | 18.0 | 17.5 | 17.5 | 17.9 | 18.4 |
| General government balance | Ð2.8 | Ð1.6 | Ð4.2 | Ð5.5 | Ð1.8 | Ð1.9 | Ð2.3 | Ð2.4 | Ð2.3 | Ð2.1 |
| Government debt | 8.1 | 7.1 | 8.4 | 13.7 | 13.9 | 19.9 | 22.9 | 25.3 | 27.0 | 27.6 |
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| Memorandum items | ||||||||||
| Industrial production (% change) | Ð6.7 | 0.3 | 2.3 | 3.6 | 6.9 a | 6.0 | 6.5 | 7.0 | 7.0 | 12.0 |
| Oil production ('000 b/d) | 183 | 185 | 229 | 277 | 283 a | 296 | 311 | 349 | 361 | 450 |
| National savings ratio (%) | 2.3 | 19.6 | 13.2 | 12.9 | 39.7 | 42.0 | 41.7 | 42.5 | 42.9 | 43.2 |
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| Wage and price inflation (%) | ||||||||||
| Consumer prices (av) | 19.8 | 3.6 | Ð0.8 | Ð8.6 | 1.8 a | 1.7 | 2.4 | 2.8 | 3.3 | 3.5 |
| Consumer prices (year-end) | 6.8 | 0.3 | Ð7.6 | Ð0.5 | 2.2 a | 2.0 | 2.5 | 3.1 | 3.3 | 3.6 |
| Average nominal wages | 43.1 | 58.5 | 18.9 | 9.5 | 11.2 a | 8.0 | 8.0 | 13.0 | 14.0 | 15.0 |
| Average real wages | 19.4 | 52.9 | 19.8 | 19.8 | 9.3 a | 6.2 | 5.4 | 9.9 | 10.4 | 11.1 |
| Labour costs per hour (US$) | 0.1 | 0.2 | 0.2 | 0.2 | 0.3 a | 0.3 | 0.3 | 0.3 | 0.3 | 0.4 |
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| The labour market (av) | ||||||||||
| Labour force (m) | 4.2 | 4.2 | 4.2 | 4.3 | 4.4 a | 4.4 | 4.4 | 4.5 | 4.5 | 4.5 |
| Labour force (% change) | 2.5 | 0.9 | 0.4 | 1.2 | 1.4 a | 0.7 | 0.5 | 0.9 | 0.9 | 0.9 |
| Employment (m) | 3.69 | 3.69 | 3.70 | 3.70 | 3.71 a | 3.72 | 3.73 | 3.74 | 3.76 | 3.78 |
| Employment (% change) | 2.0 | 0.2 | 0.2 | 0.0 | 0.2 a | 0.3 | 0.3 | 0.2 | 0.5 | 0.5 |
| Unemployment rate (%) | 0.8 | 0.9 | 1.0 | 1.1 | 1.0 a | 1.0 | 1.1 | 1.1 | 1.1 | 1.2 |
| Unemployment (av; '000) | 506.0 | 538.0 | 546.0 | 598.0 | 608.0 a | 618.0 | 628.0 | 638.0 | 648.0 | 658.0 |
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| Financial indicators | ||||||||||
| Exchange rate Manat:US$ (av) | 4,301 | 3,985 | 3,869 | 4,120 | 4,474 a | 4,689 | 4,888 | 5,060 | 5,166 | 5,313 |
| Exchange rate TL:Manat (av) | 145 | 157 | 162 | 152 | 140 a | 251 | 378 | 510 | 704 | 953 |
| Exchange rate Manat:Rb (av) | 826 | 745 | 498 | 168 | 159 a | 159 | 156 | 153 | 157 | 161 |
| Real effective exchange rate (av) | 90.3 | 100.0 | 117.5 | 114.7 | 109.0 a | 105.2 | 104.0 | 102.9 | 102.3 | 102.5 |
| Purchasing power parity Manat:US$ (av) | 1,814 | 1,944 | 1,788 | 1,672 | 2,114 a | 2,077 | 2,100 | 2,140 | 2,169 | 2,176 |
| 3-month interbank credit rate (av; %) | 26.3 | 24.0 | 24.0 | 22.2 | 21.5 a | 21.5 | 20.8 | 20.4 | 20.1 | 20.1 |
| Short-term deposit rate (av; %) | 18.4 | 18.6 | 12.1 | 12.2 | 13.2 a | 13.9 | 14.1 | 14.5 | 14.6 | 8.0 |
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| Current account (US$ bn) | ||||||||||
| Current-account balance | Ð0.9 | Ð0.9 | Ð1.4 | Ð0.6 | 0.0 a | Ð0.1 | Ð0.3 | Ð0.4 | Ð0.5 | Ð0.5 |
| % of GDP | Ð29.3 | Ð23.1 | Ð32.6 | Ð15.0 | Ð0.2 a | Ð1.3 | Ð4.3 | Ð5.7 | Ð7.0 | Ð6.7 |
| Goods: exports fob | 0.6 | 0.8 | 0.7 | 1.0 | 2.0 a | 2.4 | 2.5 | 2.6 | 2.6 | 3.1 |
| Goods: imports fob | Ð1.3 | Ð1.4 | Ð1.7 | Ð1.4 | Ð1.5 a | Ð2.1 | Ð2.4 | Ð2.5 | Ð2.6 | Ð2.8 |
| Trade balance | Ð0.7 | Ð0.6 | Ð1.0 | Ð0.4 | 0.5 a | 0.3 | 0.1 | 0.1 | 0.0 | 0.3 |
| Services: credit | 0.1 | 0.3 | 0.3 | 0.3 | 0.3 a | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 |
| Services: debit | Ð0.4 | Ð0.7 | Ð0.7 | Ð0.5 | Ð0.5 a | Ð0.7 | Ð0.8 | Ð0.9 | Ð1.0 | Ð1.2 |
| Services balance | Ð0.3 | Ð0.4 | Ð0.4 | Ð0.2 | Ð0.3 a | Ð0.4 | Ð0.5 | Ð0.5 | Ð0.6 | Ð0.7 |
| Income: credit | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 a | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 |
| Income: debit | 0.0 | 0.0 | Ð0.1 | Ð0.1 | Ð0.4 a | Ð0.1 | Ð0.1 | Ð0.2 | Ð0.2 | Ð0.5 |
| Income balance | 0.0 | 0.0 | 0.0 | 0.0 | Ð0.3 a | Ð0.1 | 0.0 | 0.0 | 0.0 | Ð0.4 |
| Current transfers: credit | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 a | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 |
| Current transfers: debit | 0.0 | Ð0.1 | Ð0.1 | Ð0.1 | Ð0.1 a | Ð0.1 | Ð0.1 | Ð0.1 | Ð0.1 | Ð0.1 |
| Current transfers balance | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 a | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 |
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| Foreign direct investment (US$ bn) | ||||||||||
| Inward direct investment | 0.6 | 1.1 | 1.1 | 0.7 | 0.6 a | 1.1 | 1.5 | 1.5 | 1.0 | 0.8 |
| % of GDP | 19.7 | 28.1 | 25.9 | 17.3 | 11.4 a | 19.9 | 24.9 | 23.6 | 14.8 | 10.3 |
| % of gross fixed investment | 67.3 | 65.8 | 56.2 | 53.2 | 48.1 a | 73.5 | 83.3 | 72.3 | 43.4 | 29.6 |
| Outward direct investment | 0.0 | Ð0.6 | Ð0.1 | Ð0.3 | Ð0.2 a | Ð0.2 | Ð0.3 | Ð0.3 | Ð0.3 | Ð0.2 |
| Net foreign direct investment | 0.6 | 1.1 | 0.9 | 0.4 | 0.4 a | 0.9 | 1.2 | 1.3 | 0.7 | 0.6 |
| Stock of foreign direct investment | 1.11 | 2.22 | 3.25 | 3.76 | 4.26 a | 5.36 | 6.83 | 8.33 | 9.35 | 10.12 |
| per head (US$) | 142.0 | 282.2 | 408.1 | 468.5 | 527.0 a | 659.3 | 835.6 | 1,011.5 | 1,129.8 | 1,216.9 |
| % of GDP | 34.9 | 56.1 | 77.6 | 93.9 | 80.5 | 96.7 | 115.4 | 131.2 | 135.6 | 135.7 |
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| External debt | ||||||||||
| Total external debt (US$ bn) | 0.4 | 0.5 | 0.7 | 1.0 | 1.2 a | 1.6 | 1.9 | 2.2 | 2.5 | 2.7 |
| % of GDP | 13.8 | 12.8 | 16.9 | 25.9 | 22.3 a | 28.3 | 32.2 | 34.1 | 35.8 | 35.7 |
| Debt/exports ratio (%) | 54.8 | 45.2 | 67.6 | 78.7 | 51.5 | 58.2 | 65.5 | 71.6 | 78.9 | 71.5 |
| Debt-service ratio, paid (%) | 1.2 | 6.9 | 2.3 | 6.5 | 6.9 | 7.4 | 7.6 | 8.0 | 7.9 | 6.0 |
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| International assumptions | ||||||||||
| EU GDP growth (%) | 1.6 | 2.5 | 2.8 | 2.5 | 3.4 | 2.3 | 2.6 | 2.5 | 2.6 | 2.8 |
| World trade growth (%) | 6.2 | 10.4 | 4.6 | 5.6 | 13.4 | 4.0 | 6.1 | 7.4 | 8.1 | 8.2 |
| Manufactures export price (%) | Ð2.7 | Ð7.3 | Ð1.7 | Ð2.0 | Ð6.2 | Ð2.9 | 3.0 | 3.0 | 1.7 | 1.3 |
| Oil price (dated Brent; US$/b) | 20.6 | 19.1 | 12.8 | 17.9 | 28.5 | 26.9 | 25.5 | 23.6 | 21.6 | 19.7 |
| DM 3-month rate (_ after 1999) | 3.3 | 3.3 | 3.5 | 3.0 | 4.5 | 4.5 | 4.4 | 4.7 | 4.7 | 4.7 |
| US$:ed (av) | 1.27 | 1.13 | 1.12 | 1.07 | 0.92 | 0.88 | 0.96 | 1.02 | 1.01 | 0.99 |
| ´:ed _ (av) | 137.9 | 137.2 | 146.6 | 121.4 | 99.6 | 105.8 | 117.4 | 121.8 | 117.6 | 113.3 |
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| Memorandum items | ||||||||||
| Share of world population (%) | 0.14 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 | 0.13 |
| Share of world GDP (% at market exchange rates) | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 a | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Share of world GDP (% at PPP) | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 a | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 |
| Share of world exports (%) | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 |
| a Actual. b EIU estimates. c EIU forecasts. d Ecu before 1999. | ||||||||||