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A Guide to Franchising in the Nations of East and Central Europe

East & Central Europe: Country Overviews
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The flag of AzerbaijanAzerbaijan

Capital City: Baku
Population (Millions): 8

ECONOMIC OVERVIEW

GDP Per Capita: US$ 10,400
GDP per Sector:
Agriculture - 5.6%
Industry - 61.4%
Services - 33%
Currency: Manat (AZN)
Ex.Rates: Azerbaijani manats (AZN) per US dollar - 0.811
Big Cities (>100,000): Ganja, Sumqayit, Mingachevir, Qaraçuxur, Shirvan, Nakhchivan City, Bakıxanov, Shaki, Yevlakh
Urban Population: 0.52
Languages: Azerbaijani (Azeri) 90.3%, Lezgi 2.2%, Russian 1.8%, Armenian 1.5%, other 3.3%, unspecified 1%

Background:

Azerbaijan - a nation with a majority-Turkic and majority-Muslim population - was briefly independent from 1918 to 1920; it regained its independence after the collapse of the Soviet Union in 1991. Despite a 1994 cease-fire, Azerbaijan has yet to resolve its conflict with Armenia over Nagorno-Karabakh, a primarily Armenian-populated region, assigned to Soviet Azerbaijan in the 1920s by Moscow. Armenia and Azerbaijan began fighting over the area in 1988; the struggle escalated after both countries attained independence from the Soviet Union in 1991. By May 1994, when a cease-fire took hold, ethnic Armenian forces held not only Nagorno-Karabakh but also seven surrounding provinces in the territory of Azerbaijan. Corruption in the country is ubiquitous, and the government, which eliminated presidential term limits in a 2009 referendum, has been accused of authoritarianism. Although the poverty rate has been reduced in recent years due to revenue from oil production, the promise of widespread wealth resulting from the continued development of Azerbaijan's energy sector remains largely unfulfilled.


























 

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