Azerbaijan has sharply increased its gold exports in the first seven months of 2026, with shipments rising more than 20-fold in value and more than eightfold in volume, according to the Azerbaijani State Statistics Committee.
Gold exports reached $3.7078 billion in January-July, up 20.8 times from the same period a year earlier. In physical terms, exports rose 8.5 times to 24,517.2 kg.
The exports consisted of gold in unprocessed and semi-processed forms, including ingots, bars, wire, profiles, plates, sheets, strips and ribbons more than 0.15 mm thick, as well as unprocessed gold not intended for coin minting.
The United Kingdom emerged as the primary destination, importing 21,902 kg of gold worth just over $3.468 billion, marking the first such supply in 16 years. Switzerland received 2,615 kg worth nearly $239.4 million, which is 34% more in value but 9.7G less in volume compared to last year.
During the reporting period, Azerbaijan imported 136.51 kg of gold worth just over $21.2 million, a sharp decline of 99.4% in value and 99.6% in volume. Imports came mainly from Türkiye (82.43 kg worth just over $13.7 million), Switzerland (54 kg worth just over $7.4 million), and the UAE (0.1 kg worth $80,000).
In 2025, Azerbaijan exported gold exclusively to Switzerland, with total shipments amounting to 4,522 kg worth $326.2 million.
