GDP per Capita: Azerbaijan

Analysis# Azerbaijan GDP per Capita Azerbaijan's GDP per capita reached $7,624 in 2026, representing a remarkable 4,666% increase from $160 in 1992. The nation peaked at $7,939 in 2014, slightly above the current trajectory. Since the Soviet Union's collapse, Azerbaijan has transformed from one of the lowest per capita income levels globally to an upper-middle-income economy, reflecting decades of oil-driven economic growth and institutional development. A sharp surge occurred between 2021 and 2022, when GDP per capita climbed from $5,468 to $7,831—a 43% jump fueled by elevated energy prices. The subsequent moderation in 2023 to $7,152 marked a correction, though recovery resumed in 2024–2026. Current projections suggest stabilization around the $7,600–$7,800 range, indicating Azerbaijan has consolidated gains from its commodity-dependent growth model.