BAKU, Azerbaijan, Dec. 12
By Sadraddin Aghjayev - Trend:
Azerbaijan increased volume of its export-import operations from January through October 2021, Trend reports citing report of the World Bank (WB).
According to the report, the volume of export grew by 34.1 percent, and import – by 4.8 percent compared to the first 10 months of 2020.
The ratio of Azerbaijan's trade surplus to GDP in October this year rose up to 24 percent compared to the same month of last year, and - to 17.8 percent since early 2021, the report said.
Overall, according to the WB forecast, growth of Azerbaijan's GDP in 2021 will amount to six percent.
Besides, in 2022, the country's GDP growth rates are projected at 3.5 percent. Thus, the WB raised the forecast for the growth rate of Azerbaijan's GDP for next year by 0.4 percent.
Azerbaijan has been cooperating with the World Bank since 1992. The bank is supporting Azerbaijan in the implementation of major structural reforms.
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