Azerbaijan’s gold exports surge to $3.7 billion in January–July

Azerbaijan sharply increased its gold exports in the first seven months of 2026, with shipments rising more than 20-fold in value and more than eightfold in volume, according to the State Statistics Committee.

Gold exports reached $3.7078 billion in January–July, up 20.8 times from the same period a year earlier. In physical terms, exports rose 8.5 times to 24,517.2 kilograms, Caliber.Az reports per local media. 

The exports consisted of gold in unprocessed and semi-processed forms, including ingots, bars, wire, profiles, plates, sheets, strips and ribbons more than 0.15 millimetres thick, as well as unprocessed gold not intended for coin minting.

The United Kingdom was Azerbaijan’s main gold export market, receiving 21,902 kg worth $3.4685 billion. The shipments marked Azerbaijan’s first gold exports to the UK in 16 years.

Switzerland was the second-largest destination, with Azerbaijan exporting 2,615 kg of gold worth $239.4 million. Compared with the same period of 2025, the value of exports to Switzerland increased by 34%, while the physical volume declined by 9.7%.

Azerbaijan’s gold imports, meanwhile, fell sharply during the reporting period. The country imported 136.51 kg of gold worth $21.2 million, representing year-on-year declines of 99.4% in value and 99.6% in volume.

Turkey supplied 82.43 kg worth $13.7 million, with imports from the country falling 86.2% in value and 92.6% in volume.

Imports from Switzerland amounted to 54 kg worth $7.4 million, down 96.3% in value and 95% in volume. Azerbaijan also purchased 0.1 kg of gold worth $80,000 from the United Arab Emirates, compared with no imports from the UAE a year earlier.

In 2025, Azerbaijan exported gold exclusively to Switzerland, with total shipments amounting to 4,522 kg worth $326.2 million.

By Sabina Mammadli