Azerbaijan-Uzbekistan trade turnover surges by 41% to $252 million in 2024

The trade volume between Azerbaijan and Uzbekistan reached $252.05 million in 2024, reflecting a significant 41 per cent increase compared to the previous year.

Azerbaijan's imports from Uzbekistan amounted to $211.72 million, marking a 1.6-fold increase. However, exports to Uzbekistan totaled $40.34 million, representing a decrease of 14.4 per cent, Caliber.Az reports via the data from the Azerbaijani State Statistical Committee.

In the structure of exports from Uzbekistan to Azerbaijan, leading goods included:

Other smoking tobacco (with or without processed tobacco substitutes) – 686.39 tons valued at $20.5 million 

Other refined copper wires – 2,067.62 tons worth $19.7 million

Car bodies for passenger vehicles – 3,723 units valued at $19.3 million

Spark-ignition internal combustion engines for land vehicles (with a cylinder capacity over 1,000 cm³) – 3,681 units valued at $14.3 million

Knitted fabrics (machine or hand-knitted, over 30 cm in width, containing 5 per cent or more elastomeric yarns by weight but no rubber yarns) – 1,766.92 tons worth $8.8 million 

On the other hand, the main imports from Azerbaijan to Uzbekistan included:

White sugar and other chemically pure sucrose – 15,899.89 tons worth $13.3 million Unprocessed aluminum alloys – 2,728 tons valued at $8 million

Apples – 2,389.54 tons valued at $2.2 million

Hazelnuts in shells – 536.9 tons worth $1.26 million

Paints and varnishes based on complex polyesters (dissolved in an anhydrous medium) – 502.3 tons valued at $1.07 million 

Despite the significant growth in overall trade, Azerbaijan recorded a negative trade balance of approximately $171.5 million in its dealings with Uzbekistan.

Uzbekistan and Azerbaijan share strong bilateral relations, marked by cooperation in various sectors, including trade, energy, and regional security. 

Trade between the two countries has grown significantly in recent years, with both nations focusing on expanding their economic ties. Azerbaijan is one of Uzbekistan's key trading partners in the South Caucasus, and both countries have increased investments and trade exchanges in fields such as agriculture, construction materials, and energy. 

The two countries also collaborate closely on regional security issues, particularly in relation to countering terrorism, drug trafficking. 

By Naila Huseynova