From 1995 to the end of the first quarter of 2024, Azerbaijan invested approximately $20 billion in Türkiye, while Türkiye invested $16 billion in Azerbaijan, Economy Ministry of Azerbaijan told Report.
Türkiye ranks second in terms of the volume of direct foreign investments attracted to Azerbaijan’s economy. Currently, about 4,200 Turkish-invested commercial facilities operate in Azerbaijan.
Meanwhile, the trade turnover between Azerbaijan and Türkiye in January-July 2024 exceeded $3.62 billion, which is a 23.7% decrease compared to the same period in 2023.
During this period, Azerbaijan’s exports to Türkiye decreased by 31.9%, amounting to over $2.329 billion, while imports from Türkiye decreased by 2.4%, totaling over $1.291 billion.