Sport for Rights, an organization that highlights human rights abuses in Azerbaijan, has urged Formula One to speak out against transgressions committed by the state, according to The Guardian. Azerbaijan has a track record of detaining journalists and political dissidents, among other violations. Azerbaijan is set to host the Formula One race on June 19.
Standard & Poor’s Ratings Services (S&P) downgraded Azerbaijan’s rating as the ex-Soviet republic contends with a devalued currency and lacking revenue, according to AFP. The Central Asian country relies on oil revenue for 95% of its exports, and S&P expects the economy to shrink by one percent for 2016. Azerbaijan is located in the Caucus region near the Caspian Sea, located between Eastern Europe and Asia.
The media climate is growing so grim in Azerbaijan that some observers are reminded of an old Soviet-era adage that just about the only safe topic for public discussion is the weather.
A government crackdown over the past year, carried out in the wake of the Euromaidan revolution that toppled the government in Ukraine, has muzzled independent voices and public critics of President Ilham Aliyev’s administration in Azerbaijan.
FOREIGN TRADE
Major exportable commodities of the country are oil and gas, machinery and cotton.
The exports partners of the country are Germany, italy, Turkey, Russia, Georgia and France.
Important importable commodities in the country are fuel and energy, food and the capital goods. Important imports partners of the country are Russia, Germany, Turkey, China and Italy.
The following diagram shows the levels of exports and imports of the country.
Among the various sectors of the economy the percentage share of the industrial sector in the total GDP is the highest. It was 55.4 percent in the year 2004.
The major agricultural products in the country are cotton, rice, grapes, vegetables, tea, cattle, pigs, and goats.
Important industries in the country are petroleum and petroleum products, steel, iron, cement; chemicals and textiles.
The following table shows the percentage share of the various sectors of the economy in the total GDP.
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Azerbaijan is a lower middle-income country comes under the Europe and Central Asian region, according to the classification made by the World Bank on the basis of Region and Income for the year 2006.
The country has a total surface area of 86,600 square kilometer as of the year 2004 with a forest area of 9,360.0 square kilometer as in 2000.
Azerbaijan is a lower middle income economies comes under Europe and Central Asian region as to the classification made by the world bank on the basis of income and region for the year 2006.
Both structural and regulatory reforms undertaken by the Government has brought some economic success for the country. The industrial sector of the country constitutes a larger share in the total GDP followed by the services sector.
