International organization participation:
AsDB, BSEC, CE, CIS, EAPC, EBRD, ECO, FAO, GUUAM, IAEA, IBRD, ICAO,
ICFTU, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol,
IOC, IOM, ISO, ITU, MIGA, OAS (observer), OIC, OPCW, OSCE, PFP, UN,
UNCTAD, UNESCO, UNIDO, UPU, WCO, WFTU, WHO, WIPO, WMO, WToO, WTrO
(observer)
Diplomatic representation in the US: chief of mission: Ambassador Hafiz PASHAYEV chancery: 2741 34th Street NW, Washington, DC 20008 FAX: [1] (202) 337-5911 telephone: [1] (202) 337-3500
Diplomatic representation from the US: chief of mission: Ambassador Reno L. HARNISH III embassy: 83 Azadlyg Prospecti, Baku AZ1007 mailing address: American Embassy Baku, Department of State, 7050 Baku Place, Washington, DC 20521-7050 telephone: [9] (9412) 98-03-35, 36, 37 FAX: [9] (9412) 656-671
Flag description:
three equal horizontal bands of blue (top), red, and green; a
crescent and eight-pointed star in white are centered in red band
Economy Azerbaijan
Economy - overview:
Azerbaijan's number one export is oil. Azerbaijan's oil production
declined through 1997 but has registered an increase every year
since. Negotiation of production-sharing arrangements (PSAs) with
foreign firms, which have thus far committed $60 billion to
long-term oilfield development, should generate the funds needed to
spur future industrial development. Oil production under the first
of these PSAs, with the Azerbaijan International Operating Company,
began in November 1997. Azerbaijan shares all the formidable
problems of the former 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 are slowly being replaced. One obstacle to economic
progress is the need for stepped up foreign investment in the
non-energy sector. A second obstacle is the continuing conflict with
Armenia over the Nagorno-Karabakh region. Trade with Russia and the
other former Soviet republics is declining in importance while trade
is building with Turkey and the nations of Europe. Long-term
prospects will depend on world oil prices, the location of new
pipelines in the region, and Azerbaijan's ability to manage its oil
wealth.
GDP:
purchasing power parity - $26.65 billion (2003 est.)
GDP - real growth rate:
11.2% (2003 est.)
GDP - per capita:
purchasing power parity - $3,400 (2003 est.)
GDP - composition by sector: agriculture: 14.1% industry: 45.7% services: 40.2% (2002 est.)