Azerbaijan is located on the western shore of the Caspian Sea at the southeast extremity of the Caucasus. The region is a mountainous country, and only about 7% of it is arable land. The Kura River Valley is the area’s major agricultural zone. Relative to other Eastern European and CIS states, Azerbaijan has reached a high level of human development, economic development and literacy, as well as a low rate of unemployment. The Republic of Azerbaijan is the largest country in the Caucasus region and touches Russia to the north, Georgia to the northwest, Armenia in the north to the west, and Iran to the south. It touches the Caspian Sea to the east.
Although inflation reached 16.6 percent in 2007, leading to speculation that Azerbaijan’s fast growing energy sector had created a bubble, the chronic inflation was checked earlier this decade, leading to the release of a new currency, the manat.
Azerbaijan was formally the Azerbaijan Soviet Socialist Republic and part of the USSR..
|Official Currency||Azerbaijani manat|
|Climate||continental influenced climate with warm summer and very cold, dry winters|