Azerbaijan: PPG, official creditors (NFL, current US$)

Key figures

What the numbers say

In 2024, Azerbaijan's PPG, official creditors (NFL, current US$) fell US$133.7 million on 2023 (from −US$403.51 million to −US$537.21 million).

Across the 29 yearly changes before that (1995 to 2023), the average change was −US$16.24 million and a typical year strayed about US$255.94 million from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was US$525.64 million in 2016 and the biggest yearly fall was US$661.35 million in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is downward, about US$167.92 million a year. A straight line explains 73% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, Azerbaijan had the 111th highest value of the 118 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Azerbaijan in the 2024 ranking

• Mongolia — 108th of 118: −US$356.47 million
• Turkmenistan — 109th of 118: −US$415.87 million
• Haiti — 110th of 118: −US$505.96 million
• Thailand — 112th of 118: −US$921.63 million
• Belarus — 113th of 118: −US$1.16 billion
• Argentina — 114th of 118: −US$1.22 billion

What this measures

Public and publicly guaranteed debt from official creditors includes loans from international organizations (multilateral loans) and loans from governments (bilateral loans). Loans from international organization include loans and credits from the World Bank, regional development banks, and other multilateral and intergovernmental agencies. Excluded are loans from funds administered by an international organization on behalf of a single donor government; these are classified as loans from governments. Government loans include loans from governments and their agencies (including central banks), loans from autonomous bodies, and direct loans from official export credit agencies. Net flows (or net lending or net disbursements) received by the borrower during the year are disbursements minus principal repayments. Data are in current U.S. dollars.

Regional and income-group figures are computed by the World Bank as a sum.

All 31 values

PPG, official creditors (NFL, current US$) in nearby economies

• Albania — −US$11.69 million (2024)
• Armenia — US$208.86 million (2024)
• Belarus — −US$1.16 billion (2024)
• Bosnia and Herzegovina — US$148.92 million (2024)
• Bulgaria — US$217.82 million (2022)
• Georgia — US$97.66 million (2024)
• Kazakhstan — US$632.03 million (2024)
• Kosovo — US$79.03 million (2024)
• Kyrgyz Republic — US$97.39 million (2024)
• Moldova — US$425.64 million (2024)

More economic policy & debt data for Azerbaijan

• Adjusted savings, education expenditure (% of GNI) — 3.9% (2021)
• Adjusted savings, mineral depletion (current US$) — US$138.93 million (2021)
• Adjusted savings, energy depletion (current US$) — US$8.51 billion (2021)
• General government final consumption expenditure (current US$) — US$11.79 billion (2025)
• General government final consumption expenditure (current LCU) — 20.05 billion (2025)
• General government final consumption expenditure (% of GDP) — 15.53% (2025)
• Households and NPISHs final consumption expenditure (current US$) — US$45.08 billion (2025)
• Households and NPISHs final consumption expenditure (current LCU) — 76.64 billion (2025)

Reading data like this

• Where to find free public data, and how to check it before you trust it — 2 min read
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• Real change or random noise? A plain guide to reading your numbers — 2 min read

Questions people ask

What is Azerbaijan's PPG, official creditors (NFL, current US$)?

−US$537.21 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1994?

It is down 896.87% from US$67.42 million in 1994. The highest value was US$1.02 billion in 2017 and the lowest −US$537.21 million in 2024.

How does Azerbaijan rank?

111th highest of 118 economies with data for 2024.

Is the latest change in PPG, official creditors (NFL, current US$) unusual for Azerbaijan?

In 2024, Azerbaijan's PPG, official creditors (NFL, current US$) fell US$133.7 million on 2023 (from −US$403.51 million to −US$537.21 million). Across the 29 yearly changes before that (1995 to 2023), the average change was −US$16.24 million and a typical year strayed about US$255.94 million from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator DT.NFL.OFFT.CD, licensed CC BY 4.0. Original source: International Debt Statistics, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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