Xifres de comerç exterior d'Azerbaidjan

Foreign Trade in Figures

Trade represents 77% of Azerbaijan's GDP (World Bank, latest data). However, its foreign trade still relies heavily on the ex-Soviet bloc countries, especially Russia. Oil and gas represent over 90% of the country's exports. A significant part of the country's imports is made of capital goods, from machinery and vehicles to electrical equipment. Primary imports in Azerbaijan include iron and steel, machinery, vehicles, and predominantly meat and dairy food products. Its oil and especially gas reserves provide the country with a degree of confidence for the coming years, but economic diversification remains a major problem to tackle. Other challenges include promoting more economic cooperation and openness and reducing the power of monopolies.

Azerbaijan's main export destinations are Italy (46.6%), Türkiye (9.3%), Israel (4.4%), India (4.4%), and Greece (3.6%), while the main import partners are Russia (18.8%), Türkiye (15.8%), China (14.4%), Germany (4.5%), and Turkmenistan (3.5% - data Comtrade 2022). As per the Azerbaijani State Customs Committee, trade with Russia increased by 17.5% y-o-y in 2023.

As per the WTO, Azerbaijan saw a significant surge in foreign trade of goods in 2022, with a 55.4% increase amounting to USD 52.7 billion. Simultaneously, the nation recorded a notable rise in total net exports, witnessing a 71.6% year-on-year increase to USD 38.1 billion, along with imports rising by 23.9% to USD 14.5 billion. Exports of services amounted to USD 6.4 billion, against 7.7 billion in imports. The total external trade balance was positive by 33% of GDP in 2022, according to the World Bank. In January-December 2023, Azerbaijan's total exports amounted to USD 33.9 billion, as indicated by the Center for Analysis of Economic Reforms and Communication. Moreover, Azerbaijan experienced a 9.8% increase in non-oil exports in 2023 compared to the corresponding period of the previous year, reaching USD 3.3 billion. The combined export value of agricultural and agro-industrial products surged by 6.2% to reach USD 969.2 million. Notably, the value of agro-industrial products, a substantial component of non-oil/gas exports, increased by 3.2% to USD 201 million.