Azerbaijan’s external position remains favourable, central bank says

Azerbaijan’s external sector indicators remain favourable, the Central Bank said in a June 24 statement on interest rate corridor parameters. 

According to customs data cited by the central bank, Azerbaijan recorded a foreign trade surplus of $7.2 billion in January-May 2026.

The central bank said it expected its forecast for the current account surplus by the end of 2026 to improve further. It linked the outlook to higher global energy prices in recent months and continued positive trends in non-oil and gas exports.

The bank said supply exceeded demand in the foreign exchange market in the first five months of the year. Purchases of cash foreign currency by exchange offices exceeded sales by $311 million over the period.

Remittances into Azerbaijan rose 28.8% year-on-year in January-May to $560.1 million.

The central bank’s foreign exchange reserves increased by $1.2 billion, or 10.4%, in the first five months of the year to $12.7 billion.

N.Tebrizli