The value of Azerbaijan’s annual non-oil and gas exports doubled between 2019 and 2024, reaching $3.4 billion, while the number of exported products increased by 15% to 2,810, Economy Minister Mikayil Jabbarov said during the Milli Majlis plenary session, during the first reading of the draft law on the 2026 state budget.

According to him, despite declining oil and gas prices and production volumes, the country’s foreign trade turnover has remained stable at around $50 billion since 2022. “In 2022–2024, the foreign trade balance—excluding State Oil Fund gold and imports—recorded an average annual surplus of $16 billion. Non-oil and gas service exports rose by nearly 45%, surpassing $6.5 billion.”

“The share of non-oil and gas revenues increased from 40% in 2018 to 52% in the approved 2025 state budget. In the 2026 draft budget, this figure is projected at 57%,” he added.