BAKU, Azerbaijan, March 18. The surplus in Azerbaijan's current account balance (CAB) reached an impressive $4.7 billion in the previous fiscal year, translating to a substantial 6.3 percent of the nation's gross domestic product (GDP).
Data obtained by Trend from the Central Bank of Azerbaijan shows that
the surplus contracted from the antecedent fiscal year's $8.3
billion.
The analytics reveal that the oil and gas industry's current
account balance surplus diminished by 11.9 percent on a
year-over-year basis, amounting to $15.1 billion. Conversely, the
non-oil and gas sector experienced an escalation in its current
account balance deficit, which surged by 18.5 percent, reaching a
substantial $10.4 billion.
