Azerbaijan's Oil Rents as a Percentage of GDP (2000-2021)

The "Oil rents (% of GDP)" indicator measures the difference between the value of crude oil production at world prices and the total costs of production, expressed as a percentage of a country's Gross Domestic Product (GDP). Essentially, this indicator reflects the economic value derived from oil extraction relative to the size of the economy, providing insight into how significant oil revenues are to the national economy. This metric can be particularly important for understanding the dependence of a country's economy on oil resources and the impact of oil price fluctuations on economic stability. The chart displays the oil rents (% of GDP) in Azerbaijan over a 22-year period from 2000 to 2021. In 2021, oil rents in Azerbaijan were reported at 20.98% of GDP.