BAKU, Azerbaijan, March 29. The current account surplus of Azerbaijan's balance of payments amounted to $8.3 billion in 2023, Director of the Statistics Department of the Central Bank of Azerbaijan (CBA) Samir Nasirov said during a media briefing, Trend reports.
According to him, the figure is 64.7 percent lower than the 2022 figure due to lower oil and gas prices in 2023.
"Based on last year's results, the current account surplus amounted to $8.3 billion, representing 11.5 percent of GDP. The surplus for the oil and gas sector amounted to 17.091 billion dollars (40.4 percent reduction), while for the non-oil and gas sector, the deficit amounted to 8.762 billion dollars (68.9 percent growth)," he stressed.
To note, the Central Bank forecasts a current account surplus at the end of 2024 of $7-8 billion.
Meanwhile, Azerbaijan's current account surplus in 2022 amounted to a record $23.4 billion (a 2.8-fold increase compared to 2021), or 23.5 percent of GDP, on the back of high oil and gas prices.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel