Current Account in Azerbaijan

Azerbaijan Current Account | Economic News & Forecasts

Azerbaijan - Current Account

Growth was sturdy in Q1 2019, thanks to increased petroleum production and improving non-oil activity. Industry was again the star performer, followed by the agricultural sector, which has benefited from a slew of reforms in recent years. Retail sales also gained pace, suggesting that household spending remained resilient; hikes in the minimum wage and minimum pension, enacted recently to appease growing public discontent over rising living costs, should further stoke private consumption. Moreover, export growth soared in the quarter despite a challenging external backdrop. Increased revenues from higher overseas oil sales have boosted the state oil fund SOFAZ, along with bolstering tax revenues. In other news, BP recently announced that it will be leading a consortium of energy partners to expand a vital offshore oil platform in the country, with USD 6 billion earmarked for the project.

Azerbaijan - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)15.9  13.2  -0.4  -3.6  4.1  

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Azerbaijan Current Account Chart


Azerbaijan Current Account
Note: Current account balance as % of GDP.

Azerbaijan Facts

ValueChangeDate
Exchange Rate1.70-0.66 %May 13
Stock Market0.10.0 %May 13

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