Azerbaijan’s external economic position is gaining fresh international recognition as the International Monetary Fund (IMF) significantly upgrades its current account surplus forecasts for 2026 and 2027. According to the IMF’s October 2026 World Economic Outlook, Azerbaijan’s current account surplus is projected to reach 11.3% of gross domestic product (GDP) in 2026 and 9.8% in 2027. The revised estimates compare with previous projections of 9.7% and 5.4%, respectively, highlighting the country’s substantial capacity to generate foreign currency through international economic activity.

The figures carry considerable importance for Azerbaijan’s macroeconomic stability, currency market and long-term development strategy. A current account surplus represents the excess of a country’s international earnings from goods, services, income and transfers over its corresponding payments abroad. For Azerbaijan, energy exports remain the principal source of this financial strength, supported by the country’s established position in international oil and natural gas markets.

The first half of 2026 provides a clear illustration of this performance. Azerbaijan recorded a current account surplus of approximately $4.74 billion, equivalent to 12.4% of GDP, compared with $2.32 billion during the corresponding period of 2025. The........

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