Trade turnover between Azerbaijan, Russia down almost 50% in Q1

BAKU. April 16 (Interfax) - Trade turnover between Azerbaijan and Russia amounted to $746.8 million in Q1 2026, down 47.4% year-on-year, according to the Azerbaijani State Customs Committee (SCC).

According to the agency, the share of trade operations with Russia accounted for 7.94% of the country's total foreign trade turnover (Russia is Azerbaijan's fourth largest foreign trade partner after Italy, Turkey and China). In January-March 2025, Russia was the second largest foreign trade partner of Azerbaijan with a share of 11.88%.

Azerbaijani exports to Russia amounted to $223.8 million in January-March 2026, down 4.7%. Overall, supplies to Russia accounted for 3.66% of Azerbaijani exports. Russia ranks fourth among the countries to which Azerbaijani products are exported.

At the same time, Russia is the largest buyer of Azerbaijani non-oil products. Supplies of these products to Russia in the reporting period amounted to $211.6 million (-9.1%), with a share of 24.55%.

Azerbaijan imported goods worth $523 million from Russia in Q1 (-56.5%), and the share of Russian supplies in total imports was 13.06%. Russia is the second largest importer into Azerbaijan after China.

According to the SCC, Azerbaijan's negative balance in export-import relations with Russia therefore amounted to approximately $299.2 million in January-March 2026.

For the whole year 2025, Azerbaijani-Russian trade turnover reached $4.92 billion, up 2.5% compared to the previous year.