Oil and gas typically account for more than 90% of Azerbaijan's exports, although the balance between the two will shift towards gas, says the forecast of the Economist Intelligence Unit (EIU), a research and analysis unit of The Economist Group, APA-Economics reports.
"Despite a downturn in oil prices of more than 15% in 2024‑28, the current account will remain in surplus as gas exports rise. Azerbaijan has increased its gas supply to Türkiye by 25%, with Türkiye becoming Azerbaijan's biggest export market, surpassing Italy. Europe's energy diversification efforts will greatly benefit Azerbaijan's natural gas exports," the forecast reads.
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