Diplomacy
Azerbaijan Exported $5.8M to Armenia in Q1, but Armenian Data Shows Almost None
4
Min
Azerbaijan reported exports to Armenia of $5.8 million in the first quarter of 2026, while Armenia's recorded imports from Azerbaijan were just $960, according to an OC Media analysis updated this week. Armenia's State Revenue Committee and Economy Ministry state that no exports from Azerbaijan were registered at all.
The mismatch is the story. OC Media notes the $960 figure may reflect gifts handed over during diplomatic visits rather than commercial trade, and the source of the roughly $5.8 million Azerbaijani figure is not reconciled with Armenian records.
The numbers in context
- Azerbaijan exports to Armenia, Q1 2026: $5.8 million, about 0.11% of Azerbaijan's total exports
- Armenia's reported imports from Azerbaijan, Q1 2026: $960
- Azerbaijan exports to Armenia, full-year 2025: $788,800
- Armenia exports to Azerbaijan, 2025: $0
On Azerbaijan's own data, first-quarter shipments were already more than seven times the full-year 2025 level. The reported trade is dominated by petroleum products.
How the process has moved
The two governments initialled a peace treaty in Washington in August 2025. In January 2026 they exchanged lists of goods that could be traded, and in early April an Armenian delegation visited Azerbaijan across the demarcated border in the Tavush and Gazakh regions. Armenian Economy Minister Gevorg Papoyan and others have framed trade as a natural next step after the political breakthrough.
Scale check
To put the amounts in perspective, Azerbaijan's non-oil exports to Georgia alone were $386.5 million in January–August, according to Trend, making Georgia its third-largest non-oil market. Trade with Armenia is a rounding error by comparison.
Outlook
For businesses, the practical signal is that legal and logistical channels are not yet routine. Progress on border delimitation, customs procedures and transit through projects such as TRIPP will determine whether trade moves from symbolic to commercial volumes, and whether the two countries' statistics can be reconciled.
