BAKU, Azerbaijan, March 29. Azerbaijan's GDP will grow from 2022 through 2025, Trend reports via the fifth edition of the Deloitte Research Center's "Business Outlook in Azerbaijan" report.
According to the report, this indicator is expected to rise by 2.9 percent in 2022, 3.2 percent in 2023, 2.9 percent in 2024 and 2.8 percent in 2025.
The report said Azerbaijan is experiencing its ninth consecutive year with a positive trade balance at $3 billion.
"Azerbaijan's exports are expected to make up $19 billion in 2022, $19.8 billion in 2023, $20.9 billion in 2024 and $22.2 billion in 2025. The country's imports will account for $10.9 billion in 2022, $12 billion in 2023, $12.9 billion in 2024 and $13.6 billion in 2025,” the report said.
Deloitte also assumed that Azerbaijani gas exports will grow in the forecast periods as the production increases within the second phase of the Shah Deniz field development.
Completion of the Trans-Adriatic Gas Pipeline (TAP) construction will also contribute to the growth of Azerbaijani gas sales to Europe.
"The cost of gas is expected to grow in the coming years. So, it’s predicted that in 2022 the cost of Azerbaijani gas will be $3.05, and in 2023 - $3.19. Moreover, the cost of oil will also grow," added the report.