Country Information

Azerbaijan is situated on the south-eastern part of the Caucasus, which stretches for more than 800 km from the Black to the Caspian Sea. Located at the crossroads of Europe and Asia, Azerbaijan has a great potential for transit, which is further enhanced by the well-developed road infrastructure. As a logistical hub of the region, Azerbaijan plays a significant role in the economic and cultural relations with the rest of the world.

The Oil & Gas sector is the core of Azerbaijan’s economy, accounting for 86,53% of the country’s total exports in 2020.¹ Currently, diversification of economy and promoting export potential are major goals of the government. However, due to the consequences of coronavirus pandemic, non-oil exports decreased by 8% in 2020 compared to 2019.²

The EU is the largest trade partner of Azerbaijan, with a 49.5% share in the country’s total exports and a 23,6% share in total imports (2020). Germany ranks the 5^th place among Azerbaijan’s main trade partners, having a 3.34 % share in Azerbaijan’s total trade turnover (2020).³