Is anticipated to drop to 30.7% in 2009 from the 41.6% level of 2008, the World Bank said in the Global Economic Prospects Report.
According to the report, Azerbaijan ranks first among Europe and Central Asia countries for this ratio. The country is predicted to maintain its lead in 2010 too.
However, some countries don’t have positive ratio because of large current account deficits.
| 2005 | 2006 | 2007 | 2008 (proj.) | 2009 (proj.) | 2010 (proj.) |
Azerbaijan | 1.3 | 17.7 | 30.7 | 41.6 | 30.7 | 28.4 |
Uzbekistan | 13.1 | 14.3 | 18.8 | 20.6 | 14.7 | 13.1 |
Russia | 11.1 | 9.6 | 6.1 | 6.0 | - 3.4 | - 5.0 |
Kazakhstan | - 1.9 | - 2.2 | - 6.9 | 0.1 | - 7.0 | - 7.2 |
Poland | - 1.2 | - 2.7 | - 3.8 | - 5.4 | - 6.2 | - 5.6 |
Belarus | 1.4 | - 4.1 | - 6.4 | - 5.5 | - 6.2 | - 6.4 |
Ukraine | 2.9 | - 1.5 | - 4.2 | - 6.5 | - 2.2 | - 1.3 |
Armenia | - 1.1 | - 1.8 | - 6.2 | - 7.6 | - 4.3 | - 4.3 |
Turkey | - 4.7 | - 6.0 | - 5.7 | - 8.4 | - 3.9 | - 3.1 |
Macedonia | - 1.4 | - 0.4 | - 3.4 | - 9.8 | - 4.4 | - 3.5 |
Croatia | - 6.6 | - 7.6 | - 8.6 | - 9.9 | - 4.2 | - 3.2 |
Kyrgyzstan | - 2.4 | - 10.6 | - 7.2 | - 10.6 | - 5.6 | - 2.4 |
Albania | - 6.8 | - 7.3 | - 10.0 | - 11.2 | - 5.3 | - 4.7 |
Lithuania | - 7.1 | - 10.7 | - 13.6 | - 13.9 | - 12.2 | - 10.9 |
Latvia | - 12.4 | - 22.7 | - 22.8 | - 15.2 | - 10.5 | - 8.2 |
Romania | - 8.7 | - 10.5 | - 13.7 | - 15.5 | - 8.6 | - 7.4 |
Moldova | - 8.3 | - 11.5 | - 15.8 | - 17.7 | - 4.4 | - 5.8 |
Georgia | - 11.9 | - 16.2 | - 21.5 | - 21.9 | - 20.7 | - 22.0 |
Bulgaria | - 12.3 | - 15.7 | - 21.6 | - 24.3 | - 15.6 | - 13.6 |
The higher current account balance/GDP ratio in Azerbaijan is caused by the fact that the country’s exports exceed imports by several times.
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