Azerbaijan recorded a merchandise trade surplus of $127.58 million in September, the lowest monthly figure in January-September 2026. The August surplus was $941.68 million, making the month-on-month contraction 86.5%.
Exports fell as imports rose
Exports declined from $2.48 billion in August to $2.05 billion in September, while imports increased from $1.54 billion to $1.92 billion. Both movements narrowed the balance. September imports were the highest of the first nine months.
| Indicator | Monthly trade, US$ million |
|---|---|
| July exports | 3,015.38 |
| July imports | 1,539.80 |
| August exports | 2,484.70 |
| August imports | 1,543.02 |
| September exports | 2,049.71 |
| September imports | 1,922.13 |
The cumulative balance remains positive
Nine-month exports reached $23.86 billion and imports $13.35 billion, leaving a surplus of $10.52 billion. One weaker month does not overturn that result, but it illustrates how quickly the gap between exports and imports can narrow.
Reading monthly customs data
The report records completed customs clearance. The timing of large shipments can shift values between months, so September alone does not establish a lasting deterioration. Subsequent months and a commodity breakdown are needed to assess the trend.