Azerbaijan sharply increased its gold imports in the first nine months of 2025, bringing in 38,477 kilograms of the precious metal worth $3.75 billion, according to new data from the State Statistics Committee.
The surge represents a $1.9 billion increase, or a twofold jump in value, compared with the same period last year. In volume terms, gold imports rose by 61.3%, adding an extra 14,600 kilograms year-on-year.
Russia, the United Kingdom, and the United States were the top three exporters of gold to Azerbaijan during the reporting period.
Despite the spike in imports, domestic production also posted strong growth. Azerbaijan produced 2,349 kilograms of gold between January and September – up 34.1%, or 596.9 kilograms, compared with the same period in 2024, when output totaled 1,752 kilograms.
Analysts note that the surge in imports mirrors rising global gold prices, heightened investor demand, and expanding private-sector interest in precious-metal reserves.
