BAKU, Azerbaijan, December 11. Azerbaijan's current account surplus in the balance of payments amounted to approximately $4 billion from January through September 2024, Director of the Statistics Department of the Central Bank of Azerbaijan (CBA) Samir Nasirov said in a media briefing, Trend reports.
"The current account surplus represented 7.2 percent of GDP. The surplus in the oil and gas sector reached $11.1 billion, while the non-oil sector recorded a deficit of $7.1 billion," Nasirov said.
“The share of the current account in GDP amounted to 7.2 percent. The current account surplus in the oil and gas sector reached $11.115 billion (down 7.8 percent), while the deficit in the non-oil sector was $7.1 billion (up 32.9 percent),” he said.
However, during the same period last year, the surplus stood at $6.6 billion. Thus, the surplus decreased by 40.8 percent over the year.
The central bank forecasts a current account surplus of $6-$7 billion by the end of 2024.
To note, the current account surplus of Azerbaijan's balance of payments in 2023 amounted to $8.3 billion (a 64.7 percent reduction compared to 2022).