Azerbaijan Credit to GDP
Domestic credit to private sector as % of GDP FS.AST.PRVT.GD.ZS
Azerbaijan's credit to gdp was 23.63% in 2025, ranked 114th globally. This represents a 10.5% decrease from 2024. Data from World Bank, covering 2016–2025.
Overview
Azerbaijan's credit to gdp stood at 23.63% in 2025, a decline of +2.76% from 2024. Based on recent trends, this figure is projected to reach 23.63% by 2025. Azerbaijan ranked 114th globally.
Azerbaijan’s credit‑to‑GDP ratio has fallen sharply over the past decade, moving from an all‑time peak of 32.87 % in 2016 to a trough of 18.30 % in 2022 before modestly rising to 23.63 % in 2025, placing the country 114th globally. This 28 % decline in the share of external financing relative to output reflects a combination of reduced borrowing and a rebound in domestic economic activity after the post‑pandemic slowdown. The 2025 figure is comparable to peer economies such as Mali (23.33 %) and Djibouti (23.04 %), suggesting that Azerbaijan is aligning with other lower‑middle‑income countries that maintain limited reliance on external credit. The recent uptick signals a tentative re‑engagement with international lenders, but the trajectory will depend on fiscal policy choices, commodity price volatility, and the ability to attract stable investment without expanding debt burdens. Continued prudence could keep the ratio near its current level, while aggressive borrowing would push it higher.
Data & projection
| Year | Credit to GDP | YoY change | Rank |
|---|---|---|---|
| 2027* trend | 23.82% | - | - |
| 2026* trend | 23.73% | - | - |
| 2025* trend | 23.63% | - | - |
| 2025 | 23.63% | −2.76% | #114 |
| 2024 | 26.39% | +3.27% | #29 |
| 2023 | 23.13% | +4.83% | #37 |
| 2022 | 18.30% | −4.63% | #33 |
| 2021 | 22.93% | −3.11% | #41 |
| 2020 | 26.03% | +3.03% | #49 |
| 2019 | 23.00% | +2.24% | #50 |
| 2018 | 20.77% | −1.33% | #41 |
| 2017 | 22.10% | −10.77% | #47 |
| 2016 | 32.87% | – | #63 |
Detected Pattern
Analysis
Azerbaijan matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw credit to gdp improve within 24 months. View full analysis →
Frequently Asked Questions
Azerbaijan's credit to gdp was 23.63% in 2025. Ranked 114th globally. This represents a 10.5% decrease from the previous year.
Azerbaijan's credit to gdp peaked at 32.87% in 2016.
The lowest credit to gdp in Azerbaijan was 18.30% in 2022.
Azerbaijan ranks 114th globally in credit to gdp as of 2025.
The World Bank indicator code is FS.AST.PRVT.GD.ZS. Data sourced from World Bank.
Azerbaijan's credit to gdp is projected to reach 23.63% by 2025 based on trend extrapolation.
The credit to gdp of Azerbaijan in 2025 was 23.63%. This ranks 114th in the world.
Cite this page
@misc{historysaid_azerbaijan_credit-to-gdp,
title = {Azerbaijan Credit to GDP},
url = {https://historysaid.com/azerbaijan/credit-to-gdp/},
publisher = {HistorySaid},
year = {2026}
}