The trade turnover between Azerbaijan and Israel amounted to $4.203 million in January of this year, marking a significant shift in bilateral commercial dynamics.
According to data provided by the State Customs Committee to the Operative Information Center-OMM, this figure represents a 57.3% decrease compared to the same period last year. During the reporting period, trade with Israel accounted for approximately 0.1% of Azerbaijan's total foreign trade turnover.
The breakdown of the figures shows that the value of Azerbaijan's exports to Israel plummeted by 79% to reach $1.717 million. Conversely, imports from Israel to Azerbaijan saw an upward trend, increasing by 46% to reach $2.486 million. In terms of overall shares, exports to Israel constituted 0.1% of Azerbaijan's total exports, while imports from Israel made up 0.2% of the country's total imports for the month.
Economic relations between Azerbaijan and Israel have historically been characterized by strong cooperation, particularly in the energy, technology, and defense sectors. Azerbaijan remains one of the primary suppliers of crude oil to Israel, while Israel provides advanced technological solutions and agricultural expertise to Azerbaijan. Fluctuations in monthly trade statistics are often attributed to the timing of large-scale energy shipments and global market volatility, though both nations continue to maintain a strategic partnership aimed at diversifying non-oil sector engagement.
