This article is analyzing the potential of Azerbaijan to increase its` economic performance, measured by GDP. Saphiro-Wilk tests are used to test normality of data and ANOVA test is employed to generate homogenous intervals for GDP. Diversification strategy is designed based on economic strategy of countries situated in same homogenous group for GDP.

According to classical theory of economy, economic performance of a country (GDP) is influenced by 3 production factors: capital, labor and resources. Out of these 3 production factors, labor is intensively analyzed and compared with labor in European countries, proving that labor structure of Azerbaijan is sustaining a diversification strategy for economy.

Keywords: GDP, population structure, unemployment, Saphiro-Wilk, ANOVA, economic strategy.