Trade figures between Türkiye and Azerbaijan

Türkiye is one of the largest investors in Azerbaijan. The volume of foreign direct investment (FDI) from Türkiye to Azerbaijan in 1995-2021 amounted to $13.3 billion. ($10.4 billion in the oil and gas sector, $2.9 billion (1st place) in the non-oil and gas sector). Turkish companies are mainly operating in the areas such as energy, industry, telecommunications, banking and insurance, construction, transport and health.

Azerbaijan is also one of the largest investors in Türkiye, and these investments has been remarkably increased in recent years. Approximately 2,000 companies with Azerbaijani capital currently operate in Türkiye. The volume of direct investments from Azerbaijan to Türkiye in 1995-2021 amounted to $20.3 billion ($17.1 billion in the oil and gas sector, $3.2 billion in the non-oil and gas sector). STAR refinery built in the Petkim petrochemical complex in Aliaga, Izmir, which became operational in September, 2018, is yet another momentous project of international importance jointly implemented. The project's investment value amounts $6,3 billion, which is a single largest FDI to Turkish economy ever. Azerbaijan ranks first among the investors of Central Asian and Caucasus countries in Türkiye in terms of both the number of companies and the volume of investment.
Trade between Türkiye and Azerbaijan is constantly evolving. Türkiye is Azerbaijan's second largest trading partner in terms of imports and exports.  In 2021, Azerbaijan's trade turnover with Türkiye amounted $4,661.85 million (12.06%), where includes import ($1,843.71 million, 18.00%) and exports ($ 2,818.14 million, 8.48%).

Turkish companies operating in various fields have been registered in Azerbaijan. Turkish companies are also actively involved in the implementation of large-scale infrastructure projects in the liberated territories of Azerbaijan. Currently, 107 different projects are being implemented by Turkish companies in these territories.

On the other hand, Azerbaijan and Türkiye have been the main initiators of a number of regional projects of international importance that are currently being implemented. Baku-Tbilisi-Ceyhan oil pipeline (BTC), Baku-Tbilisi-Erzurum gas pipeline (BTE), Baku-Tbilisi-Kars railway (BTK), Trans-Anatolian Pipeline (TANAP) are obvious examples of such projects.

Source: Embassy of the Republic of Azerbaijan to the Republic of Türkiye