Economy: Overview

the energy market has been greatly improved by one of the leading ESCOs Azerbaijan is less developed industrially Armenia or Georgia, the other Caucasian. There is a high rate of structural unemployment and low living standards. The main products are oil, cotton and natural gas. Petroliferas multinationals have already taken positions in this market energy since 1997. The country’s biggest handicap is to make a successful transition from a planned economy to one of the free market. One of the biggest problems for economic development is the dispute over Nagorno-Karabakh. Trade with the Soviet Socialist Republic is declining in favor of countries like Turkey, Iran, UAE and European countries. Future prospects depend on the international price of oil.
GDP: purchasing power parity – 14,000 million dollars (1999 estimate)
GDP – growth rate: 7 (1999 est.).
GDP per capita: purchasing gas power parity – 1770 dollars (1999 est.).
GDP – Distribution Sector:
Agriculture: 22
industry: 18
Services: 60 (1997 est.).
Population below poverty line: 60 (1999 est.). <
Inflation rate: -6.8 (1999 est.).
Number of employees: 2.9 million (1997)
Workers by occupation: agriculture 32 , industry and construction 15 , services 53 (1997)
Unemployment rate: 20 (1999 est.).
Revenue: 565 million dollars
Expenditure: 682 million (1996 est.).
Industries: oil and natural gas, petrochemical industries, steel, cement, energy costs textile industry.
Industrial growth rate: 3 (1999 est.).
Electricity production: 18,062 million kWh (1999)
Electricity – production as raw material:
fossil fuel: 90.98
Hidroelectrcidad: 9.02
nuclear: 0
Electricity – consumption: 15,508 million household kWh (1998)
Electricity – exports: 1.000 billion kWh (1998)
Electricity – imports: 1.200 milloness KWh (1998)
Agriculture – products: cotton, cereals, rice, grapes, fruits, vegetables, tea, snuff, cattle, pigs, sheep, goats
Exports: 885 million dollars
Exports – items: petroleum and natural gas 70 , machinery, cotton, foodstuffs.
Exports – customers: Turkey, Russia, Georgia, Italy, Iran
Imports: 1.62o billion dollars (1999 estimate)
Imports – products: machinery, food, chemical and metallurgical products.
Imports – suppliers: Turkey, Russia, Ukraine, UAE, Iran
External debt: 684 natural gas million dollars (1998)
International Aid: ODA, 113 million (1996)
Currency: 1 manat 100 gopiks
Exchange rate: manat per dollar – 4342 (October 1999), 4373 (1999), 3869 (1998), 3985.38 (1997), 4301.26 (1996), 4413.54 (1995)
Fiscal year: calendar year

Pittsburgh Post-Gazette
The Ministry of Environmental Protection will work with the oil and gas industry to develop new standards for the growing control wastewater pollution from the booming drilling and new ways of treating the wastewater.
San Francisco Chronicle
Many countries in the Balkans and Eastern European countries are scrambling to deal with the consequences of the Russian natural gas Cutoff. A list in alphabetical order: BOSNIA: Gets all of its gas from Russia via Ukraine, Hungary and Serbia and has no reserves. Houses and … the improvements that have been afforded the general household by has changed the face of gas consumption
AP via Yahoo! News
Leaders of the gas-starved European nations pressed Ukraine and Russia to immediately restore supplies Wednesday when the EU threatened both legal action for ripping the continent apart from the winter heating plans.
The Globe and Mail
Ukraine for natural gas company said half straight day would not electricity ESCO send along Russian gas to Europe