Azerbaijan sees significant growth in trade turnover with US and Czech Republic

Azerbaijan has achieved notable growth in its trade relations with both the United States and the Czech Republic, with mutual trade turnover increasing substantially in 2024.

Azerbaijan's total trade turnover with the United States reached $1.75 billion in 2024, a remarkable 1.9-fold increase from 2023. This surge was primarily driven by a significant boost in Azerbaijan's exports to the U.S., which grew by an impressive 8.4 times, totalling $135 million. The export share increased to 0.51% of total exports, up from 0.05% the previous year, Caliber.Az reports, citing the State Customs Committee.

On the import side, the volume of goods imported from the U.S. rose by 1.8 times, reaching $1.62 billion. As a result, the share of U.S. imports in Azerbaijan's total imports grew to 7.68%, compared to 5.14% in 2023.

Similarly, Azerbaijan has made significant strides in its economic relationship with the Czech Republic. The mutual trade turnover between the two countries reached $1.15 billion in 2024, marking a 1.5-fold increase from the previous year.

Exports of Azerbaijani goods to the Czech Republic amounted to $1.09 billion, reflecting a 1.6-fold rise. The share of Azerbaijani exports to the Czech Republic in total exports rose to 4.1%, compared to 2.02% in 2023.

However, imports from the Czech Republic declined by 21.9%, falling to $64.8 million, and its share in total imports dropped to 0.31% from 0.48% in 2023.

By Vugar Khalilov