Public debt as a share of GDP rose 7.45% to 23.8% in Azerbaijan in 2024, according to the National Statistical Office.
Historically, public debt as a share of GDP in Azerbaijan reached an all time high of 26.4% in 2021 and an all time low of 3.22% in 2008. When compared to Azerbaijan's main peers, public debt as a share of GDP in Azerbaijan amounted to 23.8%, 39.8% in Georgia, 32.2% in Iran and 16.4% in Russia in 2024.
Azerbaijan has been ranked 151st within the group of 166 countries we follow in terms of public debt as a share of GDP, 10 places above the position seen 10 years ago.
| Public Debt (As % of GDP) | Unit | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 |
| Armenia | % | 60.2% | 52.3% | 52.9% | 53.0% | 53.0% | ||||||||||||||||
| Azerbaijan | % | 26.4% | 20.7% | 22.1% | 23.8% | 25.3% | ||||||||||||||||
| China | % | 71.5% | 76.9% | 84.1% | 89.8% | 94.8% | ||||||||||||||||
| Georgia | % | 49.5% | 39.8% | 41.0% | 39.8% | 38.7% | ||||||||||||||||
| Germany | % | 69.6% | 71.1% | 68.3% | 65.6% | 63.1% | ||||||||||||||||
| Iran | % | 42.4% | 34.2% | 31.9% | 32.2% | 33.5% | ||||||||||||||||
| Iraq | % | 59.1% | 36.7% | 34.8% | 31.6% | 29.2% | ||||||||||||||||
| Japan | % | 262% | 264% | 261% | 260% | 261% | ||||||||||||||||
| Pakistan | % | 74.9% | 77.8% | 71.1% | 66.0% | 63.7% | ||||||||||||||||
| Russia | % | 17.0% | 16.2% | 16.9% | 16.4% | 15.3% | ||||||||||||||||
| Turkey | % | 41.8% | 37.5% | 37.7% | 39.6% | 42.2% | ||||||||||||||||
| Turkmenistan | % | 11.1% | 8.42% | 6.81% | 5.93% | 5.25% | ||||||||||||||||
| USA | % | 128% | 122% | 123% | 126% | 129% |
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