Country intelligence · AZE · 2024

Azerbaijan trade profile

In 2024, Azerbaijan recorded $28.8B in merchandise exports and $19.1B in imports, producing a $9.7B trade surplus. Exports changed -15.5% from the previous year, while imports changed +24.8%.^[1]

Exports

$28.8B

-15.5%

Imports

$19.1B

+24.8%

Trade balance

$9.7B

surplus

Active partners

270

10 FTA-linked

Historical evidence

Ten-year trade movement

The bars compare exports and imports on the same scale. The accompanying table preserves the exact values so the trend is usable without interpreting a graphic.

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

ExportsImports

Exact annual values

Year	Exports	Imports	Balance	Export growth
2024	$28.8B	$19.1B	$9.7B	-15.5%
2023	$34.1B	$15.3B	$18.8B	-19.9%
2022	$42.6B	$13.1B	$29.4B	+73.8%
2021	$24.5B	$10.8B	$13.7B	+66.3%
2020	$14.7B	$10.2B	$4.5B	-26.5%
2019	$20.0B	$12.3B	$7.7B	-4.4%
2018	$21.0B	$10.5B	$10.5B	+20.6%
2017	$17.4B	$8.6B	$8.8B	+24.3%
2016	$14.0B	$7.9B	$6.1B	-15.3%
2015	$16.5B	$10.3B	$6.2B	-34.5%

Leading export sectors

HS2 chapters rank broad product groups by observed export value in 2024.

HS 27 · Mineral fuels and oils

43 active HS6 lines · 92 export partners

$25.4B

HS 08 · HS chapter

64 active HS6 lines · 61 export partners

$493.2M

HS 39 · HS chapter

127 active HS6 lines · 69 export partners

$310.5M

HS 93 · HS chapter

18 active HS6 lines · 5 export partners

$297.7M

HS 76 · HS chapter

35 active HS6 lines · 45 export partners

$256.6M

HS 71 · Precious metals and stones

41 active HS6 lines · 23 export partners

$216.8M

HS 52 · HS chapter

97 active HS6 lines · 16 export partners

$216.3M

HS 07 · HS chapter

58 active HS6 lines · 30 export partners

$210.5M

Leading export markets

Destinations rank bilateral export flows from Azerbaijan; growth describes each corridor rather than the whole economy.

Italy

Annual change -30.5% · 3-year CAGR 0.7%

$9.8B

Türkiye

Annual change -10.4% · 3-year CAGR 9.7%

$5.7B

Czechia

Annual change +42.9% · 3-year CAGR 47.0%

$1.3B

Russia

Annual change -1.6% · 3-year CAGR 8.0%

$1.2B

Israel

Annual change -20.9% · 3-year CAGR 2.1%

$1.1B

Germany

Annual change +3.9% · 3-year CAGR 8.0%

$900.5M

Greece

Annual change -35.2% · 3-year CAGR 21.5%

$883.2M

Croatia

Annual change +34.5% · 3-year CAGR 5.8%

$869.7M

Sources, definitions and limitations

[1] Primary trade source

OECD Bilateral International Merchandise Trade Statistics, harmonised by Yugalinks at country-year, HS2 and bilateral-corridor levels. Coverage shown here is 1995–2024 where observations are available.

Calculation notes

USD values are aggregated from reported merchandise records. YoY compares consecutive annual totals; three-year CAGR is the mart-provided compound annual growth rate. Missing values are not inferred.

Data sources Methodology Open country workspace