Azerbaijan's non-oil export landscape: Top 5 importing countries in 2024

According to the monthly "Export Review", Russia topped the list of countries importing non-oil products from Azerbaijan in 2024.

The report published by the Centre for Analysis of Economic Reforms and Communication notes that in the reporting year, Azerbaijan exported non-oil products worth $1.162 billion to Russia, marking a 4.3% increase compared to 2023, per Caliber.Az.

Türkiye ranked second, although its imports from Azerbaijan decreased significantly by 30.8%, with the total value of non-oil exports reaching $542.3 million.

Georgia followed in third place, importing $272.7 million worth of non-oil products from Azerbaijan, reflecting an 18% reduction from the previous year.

Switzerland and the United States took the fourth and fifth spots. Non-oil exports to Switzerland grew by 25.7%, reaching $220.4 million, while exports to the United States skyrocketed, with an 8-fold increase to $134.7 million.

In December 2024, Azerbaijan's non-oil exports to these top five countries showed mixed trends. Exports to Russia totalled $94.2 million, a 14.6% decline compared to December 2023.

To Türkiye, exports fell by 36.1% to $35.2 million, while exports to Switzerland rose by 30.1%, reaching $26.8 million. Georgia saw a sharp decline, with exports dropping by 1.6 times to $19.8 million, while Kazakhstan’s imports surged by 2.8 times to $14.3 million.

By Tamilla Hasanova