Azerbaijan's gold imports surge to $6.26B in 2025

Azerbaijan imported 57,475 kilograms of gold worth $6.26 billion last year, marking a sharp increase compared to 2024, according to data from the State Statistical Committee, Report informs.

The imported gold consisted of semi-processed forms, including bars, wire, profiles, plates, and sheets, strips or bands with a thickness exceeding 0.15 millimeters, excluding any base materials.

In value terms, gold imports rose by 89 percent year-on-year, while in physical volume they increased by 40 percent compared to the previous year.

During the reporting period, Azerbaijan purchased 9,384 kilograms of gold worth $1.2 billion from Switzerland, an eightfold increase in value and 4.8 times more in volume compared to a year earlier.

Imports from Australia totaled 8,099 kilograms valued at $889.8 million, representing a 39 percent decline in value and a 55 percent drop in quantity year-on-year.

Gold imports from the United States reached 7,466 kilograms worth $860 million, down 19 percent in value and 42 percent in volume compared to 2024.

Supplies from Russia amounted to 6,939 kilograms valued at $677.9 million, which is four times higher in value and 3.5 times higher in volume than the previous year.

For the first time, Azerbaijan also imported gold from Uzbekistan, purchasing 4,149 kilograms worth $508.3 million.

Between 2020 and 2023, Azerbaijan imported a total of only 1,724 kilograms of gold worth $98.3 million, whereas in 2024 alone imports surged to 41,078 kilograms valued at $3.3 billion.

Last year, Azerbaijan exported gold exclusively to Switzerland, delivering 4,522 kilograms worth $326.2 million, which represents an increase of 54 percent in value and 6 percent in volume compared to the previous year.