Diplomatic representation in US:
chief of mission: Ambassador Hafiz Mir Jalal PASHAYEV
chancery: (temporary) Suite 700, 927 15th Street NW, Washington, DC
20005
telephone: [1] (202) 842-0001
FAX: [1] (202) 842-0004
US diplomatic representation: chief of mission: Ambassador Richard D. KAUZLARICH embassy: Azadliq Prospect 83, Baku mailing address: use embassy street address telephone: [9] (9412) 96-00-19, 98-03-37 FAX: [9] (9412) 98-37-55
Flag: three equal horizontal bands of blue (top), red, and green; a crescent and eight-pointed star in white are centered in red band
@Azerbaijan:Economy
Overview: Azerbaijan is less developed industrially than either Armenia or Georgia, the other Transcaucasian states. It resembles the Central Asian states in its majority nominally Muslim population, high structural unemployment, and low standard of living. The economy's most prominent products are oil, cotton, and gas. Production from the Caspian oil and gas field has been in decline for several years, but the November 1994 ratification of the $7.5 billion oil deal with a consortium of Western companies should generate the funds needed to spur future industrial development. Azerbaijan accounted for 1.5% to 2% of the capital stock and output of the former Soviet Union. Azerbaijan shares all the formidable problems of the ex-Soviet republics in making the transition from a command to a market economy, but its considerable energy resources brighten its long-term prospects. Baku has only recently begun making progress on economic reform, and old economic ties and structures have yet to be replaced.
National product: GDP - purchasing power parity - $13.8 billion (1994 estimate as extrapolated from World Bank estimate for 1992)
National product real growth rate: -22% (1994 est.)
National product per capita: $1,790 (1994 est.)
Inflation rate (consumer prices): 28% monthly average (1994)
Unemployment rate: 0.9% includes officially registered unemployed;
also large numbers of other unemployed and underemployed workers
(December 1994)