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FEDERATION OF EURO-ASIAN STOCK EXCHANGES SEMI ANNUAL REPORT MAY 2005<br />
BAKU INTERBANK CURRENCY EXCHANGE<br />
AZERBAIJAN GDP/EMPLOYMENT BY SECTOR OF ORIGIN<br />
Sector % GDP % Employment<br />
Agriculture 22.0 22.3<br />
Industry 33.0 17.7<br />
Services 45.0 60.1<br />
AZERBAIJAN MONEY SUPPLY, INTEREST RATES AND<br />
FOREIGN EXCHANGE RESERVES<br />
GROWTH OF EXPORTS AND IMPORTS<br />
(%)<br />
50<br />
40<br />
30<br />
20<br />
10<br />
0<br />
-10<br />
-20<br />
EXPORT AND IMPORT LEVELS<br />
(US$ Millions)<br />
3,000<br />
2,000<br />
1,000<br />
0<br />
97<br />
98 99 00 01 02 03<br />
INFLATION<br />
(%)<br />
Exports Imports GDP deflator CPI<br />
97<br />
Exports<br />
Imports<br />
98 99 00 01 02 03<br />
1998 1999 2000 2001 2002<br />
Money Supply M1 (manats-billions) 1,183 1,390 1,570 1,693 1,967<br />
Money Supply M2 (manats-billions) 1,846 2,216 3,843 3,439 3,939<br />
Growth Rate M1 -22.4% 17.5% 12.9% 7.9% 16.2%<br />
Growth Rate M2 -15.2% 20.1% 73.4% -10.5% 14.5%<br />
Interest Rates<br />
deposit rate 14.0% 10.0% 10.0% 10.0% 7.0%<br />
lending rate 14.1% 19.5% 19.7% 19.7% 17.4%<br />
Foreign Exchange Reserves (US$ millions) 447 673 680 897 722<br />
Exchange Rate Period Average (manats/US$) 3,869 4,120 4,474 4,657 4,861<br />
Annual % Growth -2.92 6.49 8.59 4.08 4.39<br />
15<br />
10<br />
5<br />
0<br />
-5<br />
-10<br />
CURRENT ACCOUNT BALANCE TO GDP<br />
(%)<br />
0<br />
-5<br />
-10<br />
-15<br />
-20<br />
-25<br />
-30<br />
-35<br />
97<br />
97<br />
98 99 00 01 02 03<br />
98 99 00 01 02 03<br />
* Economic Overview, Country Watch Incorporated, 2005<br />
* World Bank reports<br />
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