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Akbar Novruz

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Azerbaijan's total balance of payments deficit amounted to $322.9 million in the first quarter of 2026, reflecting an improvement compared to the same period last year, according to data released by the Central Bank of Azerbaijan (CBA), AzerNEWS reports.

The deficit decreased by 21.8% year-on-year from $413 million recorded in the first quarter of 2025. The CBA noted that the negative balance was primarily driven by a reduction in reserve assets during the reporting period. Calculations were carried out in line with the International Monetary Fund's BPM6 methodology, excluding exchange rate differences and revaluation effects.

At the same time, Azerbaijan's current account balance posted strong growth. The surplus reached $1.664 billion, marking an increase of 45.6% compared to the corresponding period of last year.

The positive result was largely supported by a $2.039 billion surplus in the foreign trade balance. Meanwhile, the services balance recorded a deficit of $590.3 million, while the primary income balance generated a surplus of $37.6 million. The recurrent income balance also contributed positively, increasing by $177.8 million.

However, the capital and financial account registered a larger negative balance during the quarter. The deficit widened to $2.178 billion, representing a 77.7% increase compared to the first quarter of 2025.

According to the CBA, net financial assets increased by $181.6 million, while net financial liabilities rose by $1.995 billion. In addition, the capital account posted a deficit of $1.2 million during the reporting period.