Business
Azerbaijan's foreign trade surplus rose more than fivefold to $10.39 billion in January–August 2026, an increase of $8.37 billion on the same period last year, Trend reported. Exports climbed 27.83% to $21.8 billion, while imports fell 24.11% to $11.4 billion.
Total foreign trade turnover reached $33.2 billion, up just 3.49% or $1.12 billion, so the surplus jump reflects a change in the mix rather than a boom in overall activity. Exports added $4.75 billion, and imports shed $3.63 billion.
Key figures
- Trade surplus: $10.39 billion, up $8.37 billion year on year
- Exports: $21.8 billion across 2,436 product types
- Imports: $11.4 billion across 7,226 product types
- Largest export market: EU countries, $11.75 billion (53.86%)
- Largest import source: non-EU countries, $7.24 billion (63.42%)
A fragile kind of strength
A fall of nearly a quarter in imports can signal weaker domestic demand or project-related purchasing as much as improved competitiveness. Azerbaijan's growth is already subdued: the Asian Development Bank cut its 2026 forecast to 1.6% from 2.0%, pointing to an oil sector contraction. A larger surplus does not by itself mean a stronger economy.
The technology gap is visible in the detail. High-tech exports were $65.72 million for the period, against high-tech imports of $1.35 billion, roughly twenty times larger. Closing that gap is a stated policy aim, and the figures show how far there is to go.
Breadth of participation
Some 37,474 participants took part in foreign trade, made up of 27,354 individuals and 10,120 legal entities, trading with 175 countries. The number of counterparties suggests a wide base, but the dependence on EU buyers for more than half of exports concentrates risk.
Outlook
For investors and exporters, the surplus supports foreign exchange supply and the manat, which the central bank has recently described as well supplied with currency. The questions for the final four months are whether import compression eases as investment projects resume, and whether non-oil export growth can broaden beyond a handful of commodities.
