Does Anyone Known About The Azerbaijan And Its Economy?

Azerbaijan is a small country in Area. Baku city is the capital of Azerbaijan. The economic growth of Azerbaijan is good the annual growth rate has increased ten times more since 2000.  The country growth was 11.2 percent in 2004, 18.7 percent in 2005. International Monetary Fund Fore cased that 26.6 percent growth rate in 2006 which is tremendous as compared to previous years.  The ratio of the Gross Domestic Product is 7 percent in 2007 that was estimated by the International Monetary Fund.  This growth is due to the rich Oil reserves that the country has the ratio of the Oil exports is 90 percent.

This country contains 0.7 percent oil reserves of the world.  Still the country is facing many problems like poverty. 46 percent of the population is living in poverty. The rate of inflation is also very high in this country that is 12 percent up to 2005.  Azerbaijan wants to get some foreign investment. Agriculture sector contributes 19 percent of the Gross Domestic Product. The operating techniques in the agriculture sectors are inefficient. The industrial sector of Azerbaijan is facing number of problems.  The country is not stable politically and socially.  There are three trade partner of Azerbaijan which are France, Russia, and Italy.