Azerbaijan's Economy

Azerbaijan has a robust economy, which has been growing steadily in recent years. According to the World Bank, it was the fastest-growing economy in the world in 2018. This impressive economic performance, combined with a rapidly developing infrastructure, has enabled Azerbaijan to modernize its military and, ultimately, to embark on its current campaign against Armenia.

Azerbaijan’s strong economic performance is essentially a consequence of its oil and gas industry. Since the 1990s, the country has seen a significant increase in oil production, with the export of oil and gas now accounting for around 80% of the nation’s GDP. This provides the government with a large source of income, which in turn allows it to invest heavily in the military as well as in other areas, such as infrastructure, education, and social services.

All in all, Azerbaijan's economy relies heavily on oil and gas production, which accounts for more than half of the country's GDP. This reliance on oil and gas has been seen as a major factor in Azerbaijan's determination to continue attacking Armenia. The country's oil and gas reserves in the disputed Nagorno-Karabakh region could be developed, providing Azerbaijan with an economic boost. This has been seen as a major incentive for the country to continue its aggression against Armenia, as it would provide the country with much-needed economic development.