Baku, April 10 (Trend) – The Asian Development Bank (ADB) has released its latest report, stating that Azerbaijan's current account surplus is expected to widen in 2026 thanks to rising international oil prices, and then narrow in 2027.

According to the report, although Azerbaijan’s oil production has been declining for years, higher oil prices in 2026 will boost energy export revenues, raising the current account surplus to 5.3% of GDP. However, as oil prices retreat in 2027, the surplus is projected to shrink to 3.5% of GDP.

In 2025, due to lower oil and gas exports and higher imports, Azerbaijan's current account surplus as a share of GDP fell from 6.3% in 2024 to 4.6%, while the trade surplus dropped from $8.8 billion to $6.4 billion.

According to ADB data, the Central Bank of Azerbaijan currently holds reserves of $11.5 billion, sufficient to cover 7–8 months of import needs. The State Oil Fund’s reserves continue to grow, mainly driven by increased gold purchases: over the past year, gold’s share in the fund’s assets rose from 20.6% to 38.2%. In 2025, the combined total reserves of the Central Bank and the State Oil Fund increased by 19.8%, reaching $85 billion (114% of GDP) at the end of 2025, up from $71 billion at the end of 2024.