Azerbaijan sees current account surplus contract 43% in 2024

BAKU. March 12 (Interfax) - Azerbaijan sees current account surplus of the balance of payments contract 43.3% to $4.7 billion, or 6.3% of GDP, in 2024 from $8.3 billion in 2023, the country's Central Bank said.

Meantime, the country's positive balance of foreign trade reached $1 billion in January 2025 according to the data from Azerbaijan's State Customs Committee, as the Central Bank cites in the statement. As reported, the figure totaled $701.9 million the end of the first month in 2024, thus it jumped 42.5% year-on-year in January this year.

"The current account forecast is likely to improve at the end of 2025 compared to 2024 and the previous forecast according to the latest estimates," the Central Bank said.

As previously reported, the Central Bank of Azerbaijan forecasts a current account surplus of $5.5 billion in the balance of payments for 2025.