The US News & World Report in cooperation with the consulting company BAV Consulting and the University of Pennsylvania rated 60 "best countries of the world." Azerbaijan took the 53rd place there.
In the first five positions are Germany, Canada, United Kingdom, USA and Sweden. In the last three are Iran, Ukraine and Algeria. From the post-Soviet states Russia is 24th and Kazakhstan lags behind at the 55th position.
The rating compilers adhered to 9 index - on entrepreneurship development (including infrastructure development and capital market) Azerbaijan is at the 55th place, on the opening of business it is 43rd, on the quality of life it is 56th, on tourism and recreation - 54th, on cultural influence - 56th, and on historical heritage - 57th. The aggregate position improved by economic influence (the 38th row in the table of ranks), and this was achieved at the expense of stability and cooperation with international alliances.
According to the rating compilers, the standard of living in Azerbaijan is above average, and nearly the entire economy is based on exports of oil and other energy products. Moreover, with reference to the World Bank, the authors note that though the level of unemployment and poverty reduced, official Baku risks losing these gains.
The authors suggest diversifying the economy and the number of sectors that offer jobs. The World Bank also warns of an impending "youth bubble' - the influx of unemployed younger generation that is likely to join the ranks of the unemployed and promote the growth of poverty.
The rating is based on the results of a poll of citizens and entrepreneurs, and is represented at the Davos forum. --17D-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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