Baku: Azerbaijan’s trade turnover with the United States experienced a significant surge of 60% in the first quarter of this year when compared to the same period last year, as reported by Minister of Economy Mikayil Jabbarov during a special meeting of the Cabinet of Ministers. This meeting was convened in light of President Ilham Aliyev’s visit to Washington.

According to Azeri-Press News Agency, Minister Jabbarov highlighted the extensive contractual and legal foundation underpinning Azerbaijan-U.S. economic relations, which includes 87 agreements signed over time. He mentioned the establishment of the Azerbaijan-U.S. Economic Partnership Commission in 2007, serving as a collaborative institutional mechanism. The most recent, fourth meeting of the Commission took place in Baku on May 17, 2019. The minister emphasized the positive trajectory of Azerbaijan-U.S. trade cooperation, noting that in 2024, the trade turnover reached 1.7 billion U.S. dollars, comprising 1.6 billion in imports and 135 million in exports. This represents a 94% increase in trade turnover compared to 2023, positioning the United States as Azerbaijan’s 5th largest trading partner overall, 4th in imports, and 24th in exports.

The State Customs Committee reported that in the first quarter of this year, the trade turnover between Azerbaijan and the United States amounted to 593.703 million U.S. dollars. Of this, exports accounted for 38.0632 million, while imports constituted 555.64 million.