AZERBAIJAN BUSINESS PROFILE Country official Name Republic of Azerbaijan Area 86,600 km2 Population 10 Million inhabitants Time UTC +4 Capital Baku Azerbaijanian New Manat (AZN) Currency 1 AZN = 0.5889 USD (in 2021) Language Azerbaijani Major cities Sumgait, Ganja, Lankaran, Mingachevir, Khirdalan, Qaraçuxur OIC member State date 1992 Azerbaijan Bilateral investment Turkmenistan, Albania, Turkey, Qatar, Kuwait, Jordan, Tajikistan, UAE, Saudi Arabia, Kyrgyzstan, Iran, Kazakhstan, Treaties within OIC Member States Uzbekistan, TPSOIC and protocols (PRETAS and Rules Not signed and not ratified of Origin) WTO Observer Regional and bilateral trade Commonwealth of Independent States (CIS) Agreements Georgia, GUAM, Russian Federation, Ukraine Growth 2.21% 2019 Economic sectors VAT: 18% Gas and Oil, Steel, Iron, Chemical and Petrochemical Products, Textiles and AGRICULTURE 2019 World Exports USD 19.636 Billions World Imports USD 13.649 Billions Market Size USD 33.284 Billions Intra-OIC Exports USD 3.191 Billions Intra-OIC Exports share 16.25% Turkey, Afghanistan, Libya, Egypt, Iran, Uzbekistan, Kazakhstan, Turkmenistan, UAE, Iraq, Tajikistan, Niger, Top 15 OIC Customers Kyrgyzstan, Saudi Arabia, Qatar Petroleum gas and other gaseous hydrocarbons, Petroleum oils and oils obtained from bituminous minerals, crude, Cotton, neither carded nor combed, Oils and other products of the distillation of high temperature coal tar, Unwrought aluminum, Polymers of propylene or of other olefins, in primary forms, Acyclic alcohols and their Major Intra-OIC exported products halogenated, sulphonated, nitrated or nitro sated derivatives, Polymers of ethylene, in primary forms, Cotton yarn other than sewing thread, containing >= 85% cotton by weigh, Cane or beet sugar and chemically pure sucrose, in solid form, Copper ores and concentrates Intra-OIC Imports USD 2.805 Billions Intra-OIC Imports share 20.55% Turkey, Iran, Kazakhstan, Turkmenistan, Malaysia, Indonesia, Uzbekistan, UAE, Pakistan, Bangladesh, Saudi Arabia, Top 15 OIC Suppliers Egypt, Jordan, Morocco, Tunisia Petroleum gas and other gaseous hydrocarbons, structures and parts of structures (e.g., bridges and bridge-sections, lock-gates, towers) Motor vehicles for the transport of >= 10 persons, incl. driver, Wheat and meslin, Rail locomotives powered from an external source of electricity or by electric accumulators, Polymers of ethylene, in primary forms, Major Intra-OIC imported products Palm oil and its fractions, whether or not refined (excluding chemically modified), Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, Organic surface-active agents (excluding soap); surface- active preparations, washing preparations, Furniture and parts thereof Intra-OIC Trade volume USD 5.996 Billions Intra-OIC Trade Share 18.40% Azerbaijan Republic Chamber of https://customs.gov.az/en/ www.azpromo.az Commerce & Industry Azerbaijan Export and Investment Useful links Ministry of Economy www.chamber.com.az Promotion Foundation (AZPROMO) www.economy.gov.az The State Customs Committee Baku Business Center Azerbaijan Export Potential Products See graph below.