Azerbaijan Ranks 64th on ICT
Azerbaijan ranks 64th among 166 countries on the development of information and communication technologies (ICT), ahead of the South Caucasian neighbors Armenia (74) and Georgia (78). However, the country has worsened performance in comparison with the year 2013 when it took the 61st place in the ranking. In 2012, Azerbaijan took the 68th place, in 2011 – 74th in 2009 – the 86th place.
According to the report of the International Telecommunication Union on countries (index of information and communication technologies in the world (ICT Development Index in 2014), the best indicator in the CIS is for Belarus (38), followed by Russia (42), Kazakhstan (53) Moldova (61), Ukraine (73), Kyrgyzstan (108), and Uzbekistan (116). Tajikistan and Turkmenistan are not logged in the ranking.
The top ten countries in the ranking include Denmark, South Korea, Sweden, Iceland, the UK, Norway, the Netherlands, Finland, Hong Kong and Luxembourg.
The index of information and communication technologies (ICT Development Index) is a combined measure of the achievements of the world from the point of view of the development of information and communication technologies (ICT). It is calculated by the method of the International Telecommunication Union, a specialized UN agency, defining international standards in the field of ICT.
The index was developed in 2007, based on 11 indicators that the International Telecommunication Union operates in its assessments of ICT development. The index arranges these indicators into a single criterion, which is designed to compare the achievements of countries in ICT development and can be used as a tool for comparative analysis at the global, regional and national levels. These indicators are related to ICT access, use of ICT, as well as skills, i.e. practical knowledge of these technologies by the population of the countries covered by the study.
The study's authors emphasize that the level of ICT development is today one of the most important indicators of economic and social well-being of the state. The organization publishes the Index on a regular basis, which allows countries to monitor changes across time. -0-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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