Published report on the balance of payments of Azerbaijan. The current account surplus on it by October 1, was at $ 240.5 million.
According to the Central Bank of Azerbaijan, it is 37.7 times less than in January-September of last year ($ 9 billion. 65.4 million.). This is achieved due to the implementation of the hydrocarbons sector - a plus in this segment amounted to $ 5 billion. 442.3 million. Against deficiency in non-oil sector - $ 5 billion. 201.7 million.
The total volume of foreign trade turnover for the reporting period was at $ 19 billion. 344 million. With a positive result in $ 5 billion. 302 million. At the expense of oil and gas, and only a tenth part of it (9.8%) was for CIS countries.
Exports accounted for $ 12 billion. 323 million. (Minus 46.3%), of which the share of oil and gas production was 91%, or 11 billion. 206.8 million. (Minus 48.5%). Imported products worth $ 7 billion. 20.8 million. (4.4%).
Recall, the country has completed the last year with a surplus of $ 10 billion. 423.6 million. --17D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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