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IMF unveils forecast on Azerbaijan's oil export for 2021-2022

Finance Materials 13 April 2021 20:40 (UTC +04:00)
IMF unveils forecast on Azerbaijan's oil export for 2021-2022

BAKU, Azerbaijan, April 13

By Zeyni Jafarov - Trend:

Azerbaijan will export 540,000 barrels of oil per day in 2021, while last year this figure reached 580,000 barrels, Trend reports with reference to the April report of the International Monetary Fund’s (IMF) Regional Economic Outlook: the Middle East and Central Asia.

In accordance with IMF’s forecasts, the export of Azerbaijani oil will reach 500,000 barrels per day in 2022.

The IMF also predicts the growth of Azerbaijan's oil GDP in 2021 and 2022 at the level of 0.2 percent.

Moreover, the IMF as a whole forecasts the growth of Azerbaijan's GDP this year at the level of 2.3 percent.

According to the State Customs Committee, Azerbaijan exported 5.7 million tons of oil from January through February 2021, which is by 0.3 percent more than in the same period of last year.

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