Azerbaijan’s exports to Armenia reach $23.45 million as trade remains heavily one-sided

YEREVAN— Azerbaijan exported goods worth $23.45 million to Armenia during the first nine months of 2026, while its recorded imports of Armenian-origin goods totaled approximately $96,500, according to newly released figures from Azerbaijan’s State Customs Committee.

The data, covering January through September, underscore a striking imbalance in commercial exchanges that have resumed after decades of closed borders and hostility. Goods sent to Armenia represented just 0.1% of Azerbaijan’s total exports, but far exceeded the value of goods registered as originating from Armenia.

The overwhelming majority of Armenian imports from Azerbaijan consist of fuel. Armenian customs figures indicate that petroleum and petroleum products account for more than 99% of these imports, alongside smaller shipments of plastic construction materials.

Trade accelerated following the arrival of Azerbaijani gasoline in December 2025, when the first shipment supplied by state-owned SOCAR reached Armenia through Georgia. Azerbaijan had also eased restrictions on the transit of cargo destined for Armenia.

Armenian Economy Minister Gevorg Papoyan said in September that aluminum foil had been exported from Armenia to Azerbaijan, although he did not disclose its volume or value. Azerbaijani data indicate that most of the year’s recorded imports from Armenia occurred in September.

There is, however, an important qualification: customs statistics based on a product’s country of origin do not necessarily demonstrate a direct shipment from that country. CivilNet previously documented such discrepancies in Azerbaijan’s trade figures.

The latest numbers nevertheless illustrate how uneven the new trade relationship remains. While Yerevan presents regional connectivity and commerce as elements of its peace agenda, questions persist over reciprocity, market access for Armenian producers and the economic balance of future exchanges.