opment.
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. Whereas the economies of most of the former Soviet
republics had begun to bottom out in 1995, Azerbaijan's economy
continued to plummet because of its late start on economic reform.

GDP: purchasing power parity - $11.5 billion (1995 estimate as
extrapolated from World Bank estimate for 1994)

GDP real growth rate: -17% (1995 est.)

GDP per capita: $1,480 (1995 est.)

GDP composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Inflation rate (consumer prices): 85% (1995 est.)

Labor force: 2.789 million
by occupation: agriculture and forestry 32%, industry and
construction 26%, other 42% (1990)

Unemployment rate: 2.3% includes officially registered unemployed;
also large numbers of unregistered unemployed and underemployed
workers (December 1995)

Budget:
revenues: $465 million
expenditures: $488 million, including capital expenditures of $NA
(1995 est.)

Industries: petroleum and natural gas, petroleum products,
oilfield equipment; steel, iron ore, cement; chemicals and
petrochemicals; textiles

Industrial production growth rate: -21% (1995 est.)

Electricity:
capacity: 4,900,000 kW
production: 17 billion kWh
consumption per capita: 2,200 kWh (1995 est.)

Agriculture: cotton, grain, rice, grapes, fruit, vegetables, tea,
tobacco; cattle, pigs, sheep, goats

Illicit drugs: illicit cultivator of cannabis and opium poppy,
mostly for CIS consumption; limited government eradication program;
transshipment point for illicit drugs to Western Europe

Exports: $549.9 million (f.o.b., 1995)
commodities: oil and gas, chemicals, oilfield equipment, textiles,
cotton
partners: mostly CIS and European countries

Imports: $681.5 million (c.i.f., 1995)
commodities: machinery and parts, consumer durables, foodstuffs,
textiles
partners: European countries

External debt: $100 million (of which $75 million to Russia)

Economic aid:
recipient: ODA, $14 million (1993)
note: commitments, 1992-95, $1,000 million ($185 million in
disbursements); wheat from Turkey

Currency: 1 manat = 100 gopi