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IMF forecasts highest black ink of current account in Azerbaijan

Business Materials 13 May 2009 15:16 (UTC +04:00)

Azerbaijan, Baku, May 13 / Trend , N.Ismayilova/

The International Monitory Fund (IMF) forecasts the volume of goods and service export at $17.6 billion in Azerbaijan in 2009, IMF May economic review said.

The aggregated export of goods and services in Caucasus and Central Asia countries will make up $92.1 billion, out of which $42.5 billion accounts for Kazakhstan.  

The export of goods and services from Georgia will make up $2.8 billion, Kyrgyzstan - $2.7 billion, Tajikistan - $0.8 billion, Turkmenistan - $12.8 billion, Uzbekistan - $11.5 billion and Armenia - $1.3 billion.

Azerbaijan ranks second owing to import of goods and services, which according to IMF will hit $12.1 billion in 2009. The aggregated import of goods and services of Caucasus and Central Asia countries will total $83.3 billion in 2009.

The import of goods and services to Georgia will hit $5.6 billion, Kazakhstan - $36.8 billion, Kyrgyzstan - $4 billion, Tajikistan - $2.8 billion, Turkey - $8.6 billion, Uzbekistan - $9.9 billion and Armenia - $3.6 billion.

The balance of payments current account will be positive and make up $4.1 billion in 2009 and $8.6 billion in 2010. Both forecasts are high for the region.

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