Azerbaijan's current account surplus doubles in H1

BAKU. Sept 15 (Interfax) - Azerbaijan's current account surplus for the first half of 2026 was $4.74 billion, or 12.4% of GDP, according to balance-of-payments data published on the Central Bank of Azerbaijan (CBA) website.

In January-June 2025, the country's current account surplus was $2.32 billion. Thus, the figure doubled in the first half of the current year.

According to CBA data, the average oil price in January-June was $94.5 per barrel, up 33% year-on-year, this year, and the gas price was $313 per 1,000 cubic meters , up 4% year-on-year.

The current account surplus in the oil and gas sector increased 23.6% to $9.06 billion, while the deficit in the non-oil and gas sector narrowed of this year 13.7% to $4.32 billion.

Azerbaijan's foreign trade surplus rose 47.9% to $6.1 billion during the reporting period.

According to the regulator, the country's foreign trade turnover totaled $22.4 billion, with CIS countries accounting for 10.5% and countries outside the CIS for 89.5%.

In the export structure, which reached a total volume of $14.3 billion (up 16.9%), the oil and gas sector accounted for $12.3 billion (up 20.9%), including $7.6 billion for oil, $4.2 billion for gas, and $500 million for petroleum products. Non-oil and gas exports grew by 18% to $1.99 billion.

Regarding imports, which totaled $8.1 billion (up 0.9%), consumer goods accounted for $2.9 billion, including $905.2 million for food products, and equipment and special goods accounted for $368.9 million (up 38.2%).

The CBA projects a current account surplus of $6.1 billion for 2026.

As reported, Azerbaijan's current account surplus declined 25.5% year-on-year to $3.5 billion in 2025, or 4.6% of GDP.