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13 clusters · 10 sources · 70 days · First seen · Last updated

Azerbaijan expands non‑oil trade, digital payments and trans

Overview

Azerbaijan’s economic diversification and logistics expansion continued through mid-2026. Non-oil exports reached $5.1 billion in the first five months, a 3.6-fold year-on-year increase, with the United Kingdom serving as the primary market. The non-oil sector now accounts for approximately 71.5% of GDP. Digital payments also saw significant growth; in May, resident Visa card transactions rose 28.3% in count, while UnionPay activity saw an 11.5-fold increase in transaction numbers compared to the previous year.

In the energy and mining sectors, petroleum coke exports rose 50% in value during the first half of 2026, and bitumen shipments doubled. Copper concentrate production saw a massive 642.9% increase compared to the previous year, driven by the Dəmirli mine. While oil prices for Azeri Light crude experienced volatility due to regional geopolitical tensions—fluctuating between $71 and $93 per barrel in mid-2026—Fitch Ratings projected sovereign foreign-currency assets could reach $93 billion by year-end.

Logistics and transit capabilities reached new heights. Transit cargo volumes hit a five-year high of 9.1 million tonnes in the first seven months of 2026, with Middle Corridor volumes rising 16.5%. Digital reforms, such as the TIR system, have reduced China-to-Europe transit times to an average of 12 days. Additionally, trade with China grew 6.1% in the January-April period, reaching $1.514 billion, as Azerbaijan strengthens its position as a regional hub linking Europe and Asia.

Entities

Middle Corridor · International Road Transport Union · Iran · Türkiye · Azerbaijan

Timeline

  1. 29 days ago

    [BUSINESS] 5 sources
    Azerbaijan transit cargo reaches five-year high

    Azerbaijan's transit cargo hit a five-year high of 9.1 million tonnes in early 2026, supported by Middle Corridor reforms and efforts to streamline Türkiye-Azerbaijan-Iran border crossings.

  2. about 2 months ago

    [BUSINESS] 3 sources
    Azerbaijan reports record transport volumes and copper output in early 2026

    Azerbaijan’s Jan‑May 2026 transport cargo hit 13.5 Mt, with rail up 3.3% and sea down 13.3%; Jan‑June copper output surged 642% to 8.8 kt, while gold and silver fell.

  3. about 2 months ago

    [BUSINESS] 2 sources
    Azerbaijan's Azeri Light crude climbs to $93 per barrel

    Azerbaijan's Azeri Light crude rose to $93.91 per barrel in Italy and $89.99 in Turkey on 21 July, boosting revenue against a $65 budget baseline amid regional geopolitical tensions.

  4. about 2 months ago

    [BUSINESS] 3 sources
    Azerbaijan's Bitumen Export Revenues Surge as Turkmenistan Grain Output Grows

    Turkmenistan grain output rose 11.6% in early 2026 while Azerbaijan's petroleum bitumen exports more than doubled, boosting its trade surplus.

  5. about 2 months ago

    [BUSINESS] 2 sources
    Azerbaijan sees surge in oil coke exports as Batumi jet fuel shipments resume

    Azerbaijan’s petroleum coke exports jumped 50% in early 2026, while Georgia’s Batumi terminal resumed jet fuel shipments to Kazakhstan after eight years, boosting regional energy logistics.

  6. 2 months ago

    [BUSINESS] 2 sources
    Azerbaijan's Azeri Light crude falls in July 2026

    Azerbaijan's Azeri Light crude fell to $79.09/bbl in Italy and $75.06/bbl in Turkey on July 10, 2026, amid renewed U.S.–Iran tensions and reduced Strait of Hormuz traffic.

  7. 2 months ago

    [BUSINESS] 4 sources
    Azerbaijan reports UnionPay card activity, certifies energy auditors and schedules power outages

    Azerbaijan’s central bank posted UnionPay transaction growth, three energy auditors earned certification, and scheduled power cuts on July 9 will affect several Baku districts.

  8. 2 months ago

    [BUSINESS] 3 sources
    Azerbaijan oil prices reported to fall in early July

    Early‑July 2026 data show Azeri Light, Dated Brent and Urals crude prices fell, while an Azerbaijani commentary claimed national oil had risen in cost.

  9. 2 months ago

    [BUSINESS] 2 sources
    AzerGold launches locally produced silver bars in Azerbaijan

    AzerGold started selling 999.9‑fine silver bars of 250 g, 500 g and 1 kg in Azerbaijan, offering a new local investment option and repurchase scheme.

  10. 3 months ago

    [BUSINESS] 2 sources
    Azerbaijan reports Visa transaction surge as emerging markets forecast to outpace developed economies by 2026

    Azerbaijan's Visa card usage rose sharply in May, with new digital payment tools expanding access, while the IMF forecasts emerging markets, including Azerbaijan, will grow faster than developed economies by 6

  11. 3 months ago

    [BUSINESS] 2 sources
    Azerbaijan's Non‑Oil Exports Surge to $5.1 Billion in First Five Months of 2026

    Azerbaijan’s non‑oil exports jumped to $5.1 billion (up 3.6‑times YoY) in the first five months of 2026, driving a $7.2 billion trade surplus and underscoring a shift to a diversified economy.

  12. 3 months ago

    [BUSINESS] 3 sources
    Azerbaijan sees falling precious‑metal prices and surge in trade with China

    Azerbaijan’s weekly precious‑metal prices fell, with gold down 1.5% and palladium 5.1%, while trade with China rose 6.1% in Jan‑Apr, reaching $1.5 bn and widening the trade surplus.

  13. 3 months ago

    [BUSINESS] 2 sources
    Azerbaijan oil prices rise modestly as sovereign foreign assets projected to hit $93 billion in 2026

    Azerbaijan’s Azeri Light crude rose modestly while Urals and Brent fell; Fitch forecasts sovereign foreign assets to hit $93 billion in 2026, underpinning a strong fiscal outlook.

Sources

az.trend.az · azerbaijan-news.az · banker.az · dallastexaswebdesignco.com · en.trend.az · eyyubiye63.com · news.az · ohsem.me · tr.trend.az · trend.az