BAKU, Azerbaijan, June 10. S&P Global Ratings forecasts that the surplus in Azerbaijan's foreign trade will stand at 27 percent of GDP, Trend reports.
According to S&P, in 2024 this figure will make up 24.9 percent of GDP, in 2025 it will drop to 23.6 percent of GDP, before declining to 22.5 percent of GDP in 2026.
S&P Global Ratings agency forecasted the nominal volume of Azerbaijan's GDP for 2023 at $77 billion.
The nominal GDP is projected at $81 billion in 2024, $84 billion in 2025, and $87 billion in 2026.
Besides, the agency predicts the average annual economic growth rate of Azerbaijan for 2024-2026 to make up 1.4 percent.
In 2022, Azerbaijan's foreign trade turnover (considering the statistical value of crude oil and natural gas, the customs clearance of which was not completed) totaled $56.2 billion ($41.6 billion - for exports, $14.5 billion - for imports. As such, the trade surplus exceeded $27.1 billion.