AZE.US
Italy remains Azerbaijan’s largest trading partner and its leading export market, driven primarily by oil and natural gas sales.
Trade between the two countries exceeded $11.86 billion in 2025. During the first six months of 2026, bilateral trade surpassed $5.76 billion.
Italy accounts for approximately 40% of Azerbaijan’s export revenue. The country purchases an estimated 56-57% of Azerbaijan’s exported crude oil and 39-40% of its natural gas.
Italy’s dominant position reflects the structure of Azerbaijan’s economy: oil and gas products continue to generate more than 90% of the country’s export earnings.
Italy also serves as an important gateway for Azerbaijani energy supplies to other European markets. The Southern Gas Corridor and the Greece-Bulgaria Interconnector have allowed Azerbaijani gas to reach countries in Central and Eastern Europe. The interconnector’s annual capacity is expected to increase to 5 billion cubic meters.
The picture is different for non-oil exports. Azerbaijan supplied Italy with $44.4 million worth of non-oil products in 2025, an increase of 3.5% from the previous year.
During the first five months of 2026, non-oil exports to Italy reached $37.5 million. The main products included shelled hazelnuts, methanol, ferrosilicon alloys, raw tobacco and unwrought non-alloyed aluminum.
Italy ranks tenth among buyers of Azerbaijan’s non-oil products.
Economists estimate that at least $90 of every $100 Azerbaijan earns from exports still comes from oil and gas. However, economic ties with Italy and other European countries could expand beyond hydrocarbons as Azerbaijan advances plans to export renewable electricity to Europe through the Black Sea.
AZE.US