Thursday, April 22, 2010

Azerbaijan, Baku Cost of Living April 2010

Country Full Name: Republic of Azerbaijan.

Location: Azerbaijan is in South Western Asia, bordering the Caspian Sea, between Iran and Russia, with a small European portion north of the Caucasus range.

Country Climate: Dry, semiarid.

Country Terrain: Large, flat Kur-Araz Ovaligi (Kura-Araks Lowland) (much of it below sea level) with Great Caucasus Mountains to the north, Qarabag Yaylasi (Karabakh Upland) in west; Baku lies on Abseron Yasaqligi (Apsheron Peninsula) that juts into Caspian Sea.

Major Languages: Azeri, Russian.

Major Religions: Islam.

Country Population: 8.7 million (2008 est.) 8.7 million (2009 est.).

Country Economy: The economy of Azerbaijan has largely completed its post-Soviet transition into a major oil based economy (with the completion of the Baku-Tbilisi-Ceyhan Pipeline), from one where the state played the major role.

Currency: Azerbaijan New Manat (AZN).

Country Inflation: 20.8% (2008 est.) 2.2% (2009 est.).

City: Baku is the capital, the largest city, and the largest port of Azerbaijan and all the Caucasus.

City Economy: The basis of Baku's economy is petroleum. The existence of petroleum has been known since the 8th century. The World War II Battle of Stalingrad was fought to determine who would have control of the Baku oil fields. Fifty years before the battle, Baku produced half of the world's oil supply. Currently the oil economy of Baku is undergoing a resurgence.

Cost of Living: Baku has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Baku is currently ranked 99 overall, most expensive place in the world for expatriates to live, out of 282 international locations.

For more information on Azerbaijan, Baku Cost of Living