AzerbaijanCapital: Baku
Language(s): Azerbaijani
Population: 8,467,000
Total Area: 86,600 sq km
GDP (in million USD): 62,321

 
Azerbaijan, a nation with a Turkic and majority-Muslim population - is surrounded by the Caspian Sea, Russia, Georgia, and Iran.

Over the past five years, annual GDP growth rate has been 10 percent. This impressive growth is attributable to the oil industry. Despite the country's natural resources, Azerbaijan remains one of the lowest-income countries in Europe and Central Asia.

Azerbaijan remains closed to foreign ownership, and if a foreigner has acquired land through mortgage foreclosure or gift, he must sell it within a year. Azerbaijan also allows only 10-year leases. Foreigners may own immovable properties affixed to the land.


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