Baku: Azerbaijan is among the few countries maintaining a current account surplus in 2024, despite an increase in net capital outflow, APA-Economics reports, citing the World Bank.

According to Azeri-Press News Agency, net debt outflows were recorded in several countries, including Vietnam, Kazakhstan, Egypt, Argentina, and Azerbaijan, as funds leaving these nations exceeded incoming funds.

The World Bank highlighted that Azerbaijan is one of only 23 low- and middle-income countries with a current account surplus in 2024, attributing this to the country’s energy export revenues.

The report also notes that approximately 75% of LMIC countries experienced a current account deficit in 2024, with declining foreign trade revenues, geopolitical tensions, and global trade policy uncertainties being significant risks affecting export revenues.

The World Bank further emphasized that, except for China, LMIC countries have operated with a current account deficit since 2008. However, Azerbaijan has managed to remain outside this trend, primarily due to its energy exports.