China became Azerbaijan’s fourth-largest trading partner in 2024, with bilateral trade reaching $3.744 billion—a 20.7% increase from the previous year. China accounted for 7.9% of Azerbaijan’s total foreign trade and led in imports, comprising 17.69% of the country’s import volume.
The trade relationship is bolstered by 375 Chinese-invested companies in Azerbaijan, including 298 actively operating businesses. These companies contribute to Azerbaijan’s economic diversification, particularly in high-tech, innovation, and renewable energy sectors.
In 2024, exports from Azerbaijan to China amounted to $19.7 million, including mineral fuels, chemicals, cotton, silk, electronics, fruits, and plastics.
Azerbaijan’s strategic location and infrastructure investments are crucial in facilitating trade.
The country has developed significant transport corridors, including the Baku-Tbilisi-Kars railway and the Trans-Caspian International Transport Route (Middle Corridor), which have enhanced connectivity between China, Azerbaijan, and Europe. In 2024, transit traffic between Azerbaijan and China surged by 86%, with 287 block trains dispatched from China to Azerbaijan.
The development of trade routes between China and Azerbaijan, especially infrastructure like the Baku-Tbilisi-Kars railway and the Trans-Caspian International Transport Route (Middle Corridor), is closely linked to China’s Belt and Road Initiative (BRI).
Sources
- Capian News: China Becomes Azerbaijan’s 4th Largest Trade Partner in 2024
- Corp Ady: First Railway Export to China: A New Chapter in Azerbaijan’s International Trade Prospects
- Middle Corridor: The first in 2024 block train from China to Azerbaijan in 2024 arrived in 11 days
- President.az: Ilham Aliyev was interviewed by China’s Xinhua News Agency
- Trading Economics: Azerbaijan Exports to China