Azerbaijan’s natural resources include petroleum, natural gas, iron ore, nonferrous metals and alumina. In 2011, the oil sector accounted for 51.7% of GDP, 92% of overall exports, 70% of budget revenues and a quarter of overall investments. The Azerbaijan economy has become increasingly dependent on the exploitation of hydrocarbon resources, a dependency which has already become a major economic determinant shaping the economic growth rate. As a result of reductions in oil production by 10.5% and gas production by 2.2% in 2011, the Azerbaijani economy saw its lowest economic growth rate in the last 15 years (0.1%)
Sources: Azerbaijan Committee of Statistics, IMF, US Department of State
EITI status: compliant
Visit Azerbaijan’s EITI page
5 February 2014 - Concerned at the deterioration of the human rights situation in Azerbaijan, PWYP International released a statement in support of the coalition and condemning the adoption of new laws restricting the ability of civil society to operate freely.
27 December 2013 - The coalition in Azerbaijan held their annual General Assembly and elected their new council.
14 December 2013 - The PWYP coalition in Azerbaijan conducted their annual self-assessment, using the toolkit developed by the Overseas Development Institute specifcally for evaluating the effectiveness of PWYP coalitions. They highlighted areas of strength, as well as areas to improve and set themselves specific targets to reach for 2014.
14 December 2013 - The PWYP coalition in Azerbaijan organised a training on the new EITI standard and planned how they would push for the inclusion of beneficial ownership and project-by-project reporting in EITI reports.