Key Market Indicators
Azerbaijan's energy consumption is projected to rise to 0.74 exajoules by 2028, up from approximately 0.71 exajoules in 2023, according to recent data. This growth represents a compound annual growth rate (CAGR) of 0.8%. Since 1990, energy demand in the country has increased at an average annual rate of 2.7%. In the global rankings for 2023, Azerbaijan holds the 63rd position, with Ecuador slightly ahead at 0.71 exajoules. Leading the global energy consumption rankings are the United States, India, and Russia, occupying the second, third, and fourth positions respectively.
