Azerbaijan's Non-Oil Exports Rise 17.6% to $2.81bn

Azerbaijan's non-oil exports rose 17.6% year on year to $2.81 billion in January to August 2026, according to the monthly review from the Center for Analysis of Economic Reforms and Communication. The figures show mining and farming, not only processing industries, carrying the diversification effort.

Metals at the top

Gold was the largest single non-oil export at $271.2 million, with gold export revenue up nearly 29% on a year earlier. Copper ores and concentrates ranked second at $183.7 million. Both reflect a mining sector that has grown fast over the past two years: Anglo Asian Mining's copper output has jumped even as it cut gold guidance, and state miner AzerGold has mapped a $2.1 billion build-out across four gold, copper and iron projects.

Aluminium and aluminium products were also up 42.8%, a sign that metals processing is adding value beyond raw ore.

Farming is the steady base

Tomatoes were the third-largest item at $172.2 million. Agricultural exports rose 19.2% to $732 million and agro-industrial exports 22.1% to $255.8 million, bringing the combined total to $987.8 million, about a third of non-oil exports. Sugar exports increased 2.3 times and cotton yarn rose 62.2%.

Petrochemicals lag

Not every line grew. SOCAR Polymer, 57% owned by SOCAR, exported $175.6 million of polypropylene and polyethylene, down 7.8% or $14.9 million on a year earlier. The decline shows how exposed the petrochemical side of diversification is to international price cycles. Azerenerji's electricity export revenue, by contrast, rose 66% to $8.3 million from a small base. Exports of animal and vegetable fats and oils rose 30.2%, another sign that food processing is widening the export base beyond raw produce.

Keeping it in proportion

Non-oil exports are growing, but from a low level. In the same eight months, Azerbaijan earned about $9.3 billion from oil and $5.7 billion from gas, according to customs data. Non-oil goods therefore remain well under a fifth of total merchandise exports. Mining output also depends on a handful of deposits, and agricultural exports rely heavily on the Russian market, which exposes them to sudden phytosanitary restrictions.

The government's 2027-2030 mining and metallurgy programme aims to capture more value at home by processing ore into metal. If it succeeds, metals rather than tomatoes could become the main non-oil export line by the end of the decade.

Sources: Center for Analysis of Economic Reforms and Communication via Report.az and Trend, 29 September 2026.