July 15, 2025 – Baku, Azerbaijan
Azerbaijan imported nearly 31 metric tons of gold in the first five months of 2025 — a fourfold increase in volume and fivefold rise in value compared to the same period last year, according to the State Statistics Committee.
Between January and May, the country purchased 30,875 kilograms of semi-processed gold — including bars, wires, sheets, and strips — worth a staggering $2.94 billion from 23 different countries.
Russia emerged as a key supplier for the first time, delivering 4,753 kg of gold worth $439.3 million. The United States also entered the list with 3,345 kg valued at $340.3 million, while Kazakhstan and the United Kingdom provided 2,557 kg ($262.2 million) and 2,771 kg ($256.7 million), respectively — all previously inactive sources in 2024.
Australia, a longtime trading partner, shipped 3,995 kg worth $354.7 million — a 20% drop in volume from last year.
In a notable first, Sweden exported gold to Azerbaijan for the first time in over 14 years, sending 38.2 kg worth $4.1 million.
On the export side, Azerbaijan sold gold exclusively to Switzerland — shipping 1,751 kg valued at $121.3 million. That marks a 46% increase in volume and a 2.7x surge in revenue compared to the same period in 2024.
Experts say the dramatic rise in gold trade reflects shifting reserve strategies and growing demand in both state and private sectors.
