Trade between Azerbaijan, Russia falls 31% in H1

BAKU. July 15 (Interfax) - Trade between Azerbaijan and Russia decreased 31.4% year-on-year to $1.73 billion in January-June 2026, Azerbaijan's State Customs Committee (SCC) reported.

The SCC reported that trading operations with Russia made up 7% of the country's overall foreign trade - Russia is Azerbaijan's fifth biggest trading partner, behind Italy, the UK, Turkey and China. Russia was Azerbaijan's third biggest trading partner with a 10.3% share in January-June 2025.

In the first half of 2026, exports of Azerbaijani products to Russia increased 3% to $608.56 million. Overall, 3.7% of Azerbaijan's exports went to Russia in the period, making Russia the country's fourth biggest importer.

Russia was the second biggest importer of non-oil products from Azerbaijan in H1, and the biggest in the first quarter of this year. Azerbaijan exported $596.14 million of these products to Russia in January-June, up 1.7% YoY, which was a 10.7% share of the total exports.

Azerbaijan imported products worth $1.12 billion from Russia in H1, down 42%, which was a 13.4% share of its overall imports. Russia is the third biggest exporter to Azerbaijan by volume, behind China and Turkey.

As such, the SCC data indicate that the foreign trade deficit in Azerbaijan's imports and exports with Russia totaled around $511.2 million in the period.

Trade between Azerbaijan and Russia grew 2.5% to $4.92 billion in 2025.