Current Account in Azerbaijan

Azerbaijan Current Account | Economic News & Forecasts

Azerbaijan - Current Account

The economy appears to have lost some momentum in the second quarter of the year, on the heels of a healthy first-quarter expansion which was fueled by the oil sector. Economic activity growth moderated in April–May, largely driven by a downturn in the oil sector: Azerbaijan’s oil output contracted on an annual basis in the period due to maintenance works in April as well as the country’s commitment to OPEC+ oil cuts. This likely weighed on oil export income and dragged on government revenues, eating into gains stemming from higher global oil prices in April–May. Meanwhile, non-oil activity remained buoyant in the first two months of Q2: Healthy non-oil investment activity growth, rising agricultural production and a solid increase in industrial output, excluding the oil-sector production, signaled that other sectors remained strong in the quarter. On top of that, non-oil exports continued surging in April–May.

Azerbaijan - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)16.7  13.9  -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 %Jul 11
Stock Market0.10.0 %Jul 11

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