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Country Commercial Guides FY 2000: Azerbaijan Report prepared by U.S. Embassy Baku, released July 1999 Note*

Chapter X. ECONOMIC AND TRADE STATISTICS

Appendix A: Country Data

Population               7.6 million
Population growth rate   1.0%
Religion		8% Shia
			28% Sunni
			 Orthodox Christian
			 Jewish
Government System        Republic
Languages                Azerbaijani and Russian
Work Week                Monday-Friday 40 hours

Appendix B: Domestic Economy (all figures are unofficial estimates in millions of U.S. dollars unless otherwise noted)

				1997	1998	1999**

GDP (current prices)		3630	4080	4300
GDP growth rate (%)	  	 5.8    10	   5
GDP per capita ($)	 	471	 533	 550
Gov spending as % of GDP  	21  	  21	 N/A        
Inflation (%)	          	 3.7	  -1	 3-5
Unemployment (%)          	 N/A	  15     N/A 
Foreign exchange reserves	200	566      N/A
Average ex rate for U.S.$	3900	3904	4000
Debt Service Ratio      	____       ___       ___
US Military/Economic
   assistance(USAID)*		17	   18	   ?

* Due to section 907 restrictions, the majority of U.S. aid to Azerbaijan continues to be direct humanitarian assistance to refugees and internally displaced people provided through private voluntary organizations (PVOs).

** Projected

Appendix C: Trade

					1996	1997  	 1998


Total Country Exports FOB		631	  777	  593  
Total Country Imports    		961	1,008	1,234
U.S. Exports        			 17	  67.7    66.05
U.S. Imports             		  2	  2.5     13.7

Appendix D. Foreign Investment Statistics

(all figures $ million unless otherwise stated)

Foreign Investment Flows:

		$ millions			% GDP
1993			 15			 0.5
1994			 30			 1.0
1995			160			 7.0
1996			546			17.0

Note: growth in FDI since 1995 is largely due to investment by foreign oil companies.

Foreign investment in Azerbaijan in 1999 is projected to reach $872 million, or 20% of projected GDP, according to the Ministry of Economy. Three international oil consortiums will contribute $604 million. Foreign direct investment in the first quarter of 1997 was about $90 million.

1997 Investment by Foreign Oil Companies ($ millions)

Project -- Amount of investment

1. Azeri, Chirag, Guneshli -- 569
2. Karabakh -- 20
3. Shakh-Deniz -- 15

U.S. companies have 41.9 and 30 percent stakes in the first and the second projects, respectively.

Other Sources of Foreign Investment in 1997:

Source
Amount
Field

1. World Bank
$11 million
Reconstruction of Baku water supply system

2. EBRD
$23 million
Construction of Yenikand hydra power plant, upgrade of gas supply system

3. Turkish EXIMbank
$10 million
Reconstruction of Baku airport

4. Islamic Development Bank
N/A
Relief projects and road construction

No official data are available on the amount of Azerbaijani direct investment abroad.