The Azerbaijani government has made great achievements in the strategy of revitalizing the national economy, focusing on the development of the oil industry. The successful development of Caspian oil and gas has promoted the rapid economic and social development of Azerbaijan. By the end of 2013, the unemployment rate and poverty rate had dropped to 5% and 5.3% respectively; The strategic foreign exchange reserve reached US $50.32 billion.
The Republic of Azerbaijan is located in the eastern part of the South Caucasus region at the junction of Eurasia and Azerbaijani continent. It is located at 44 ° to 52 ° E and 38 ° to 42 ° N, covering an area of 86600 square kilometers. It borders on the Caspian Sea in the East, Iran and Turkey in the south, and Russia in the north, Georgia and Armenian in the west, and the large and small Caucasus Mountains pass through the whole territory from west to East, the rest ended up in the Caspian Sea. The total length of its land border is 2657 km and the coastline is 456 km.
Azerbaijan is rich in oil and natural gas resources, mainly distributed in the apsherun Peninsula and the Caspian Sea continental shelf. In the Caspian Sea region of Azerbaijan, the proven oil reserves are 2 billion tons and the geological reserves are about 4 billion tons.
