Azerbaijan's GDP grew 41.7% in the first quarter of 2007, possibly the highest of any nation worldwide.Such rates cannot be sustained, but despite reaching 26.4% in 2005 (second highest GDP growth in the world in 2005 only to Equatorial Guinea), and 2006 over 34.6% (world highest), in 2008 dropped to 10.8%, and dropped further to 9.3% in 2009.
Comments: (1) Despite the relative non-lethality of the Arab-Israeli conflict, its renown, notoriety, complexity, and diplomatic centrality will probably give it continued out-sized importance in the global imagination.
And Israel’s reputation will continue to pay the price.
Large oil reserves are a major contributor to the economy.
The national currency, the Azerbaijani manat, was stable in 2000, depreciating 3.8% against the dollar. Progress on economic reform has generally lagged behind macroeconomic stabilization.
In August 2000, the government launched a second-stage privatization program, in which many large state enterprises will be privatized.
Since 2001, the economic activity in the country is regulated by the Ministry of Economic Development of Azerbaijan Republic.
, SARRC has raised over .8 million to help improve the quality of life for individuals with Autism and their families.
Half of all proceeds raised fund direct services and resources through SARRC right here in Arizona; while the other half aids Autism Speaks mission to enhance lives today while accelerating a spectrum of solutions for tomorrow for those affected by Autism.
Oil production under the first of these PSAs, with the Azerbaijan International Operating Company, began in November 1997 and now is about 500,000 b/d.
People visit petroleum spas (or "oil spas") to bathe in the local crude in Naftalan A leading caviar producer and exporter in the past, Azerbaijan's fishing industry today is concentrated on the dwindling stocks of sturgeon and beluga in the Caspian Sea.
Oil remains the most prominent product of Azerbaijan's economy with cotton, natural gas and agriculture products contributing to its economic growth over the last five years.