Armenia and Azerbaijan
Armenia and Azerbaijan maintained direct dialogue on peace and connectivity in September 2026. The ministers examined progress following the 2025 Washington agreements and trade and transit contacts.
Analysis reviewed: 2026-10-08 · Indicators updated: 2026-10-08History and institutional framework
Ararat Mirzoyan and Jeyhun Bayramov met in New York on 24 September 2026 on the sidelines of the United Nations General Assembly.
Cooperation and bilateral issues
They paid particular attention to unblocking economic and transport infrastructure between the two countries.
Cooperation and bilateral issues
They paid particular attention to unblocking economic and transport infrastructure between the two countries.
Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | ||
| Goods: Armenia to Azerbaijan | ||
| Goods: Azerbaijan to Armenia | ||
| Services trade | ||
| Export share: Armenia to Azerbaijan | ||
| Export share: Azerbaijan to Armenia | ||
| Investment stock: Armenia in Azerbaijan | ||
| Investment stock: Azerbaijan in Armenia |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
| Indicator | Armenia | Azerbaijan |
|---|---|---|
| Nominal GDP | 29.24 billion USD2025 · WB | 75.94 billion USD2025 · WB |
| GDP per capita | 9,474.02 USD2025 · WB | 7,410.72 USD2025 · WB |
| GDP growth | 7.2 %2025 · WB | 1.45 %2025 · WB |
| Policy interest rate | ||
| Inflation · annual average | 3.31 %Annual average · 2025 · WB | 5.62 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | ||
| Unemployment | 12.87 %ILO est.2025 · WB | 5.46 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -3.7 %IMF est.2025 · IMF | 2.6 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 49 %IMF est.2025 · IMF | 20.1 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -7.22 %2025 · WB | 4.58 %2025 · WB |
| Population | 3,086,7002025 · WB | 10,246,996World Bank est.2025 · WB |
| Area | 29,740 km²2023 · WB | 86,600 km²2023 · WB |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDArmenia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Azerbaijan: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP per capita
- Current USD per personArmenia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Azerbaijan: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- GDP growth
- Annual real change (%)Armenia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Azerbaijan: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Policy interest rate
- Central bank instrument (%)
- Inflation · annual average
- Average annual change in headline CPI (%)Armenia: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series. Observation year, not download date.Azerbaijan: 2025 · Annual average change in the CPI (%) · World Bank · Official World Bank series. Observation year, not download date.
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency stated
- Unemployment
- % of the labour force; definition used by the stated institutionArmenia: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.Azerbaijan: 2025 · ILO modelled estimate; percentage of the labour force · World Bank · ILO est. · Official World Bank series. Observation year, not download date.
- Budget balance
- General government (% of GDP)Armenia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Azerbaijan: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Gross public debt
- General government (% of GDP)Armenia: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.Azerbaijan: 2025 · IMF · IMF est. · WEO general-government estimate, % of GDP. Not an observed balance for the current month.
- Current account balance
- % of GDPArmenia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Azerbaijan: 2025 · World Bank · Official World Bank series. Observation year, not download date.
- Population
- PeopleArmenia: 2025 · World Bank · Official World Bank series. Observation year, not download date.Azerbaijan: 2025 · World Bank · World Bank est. · Extrapolated estimate identified by the World Bank; not a census for the reference year.
- Area
- Total area in km²; territorial coverage of the sourceArmenia: 2023 · World Bank · Official World Bank series. Observation year, not download date.Azerbaijan: 2023 · World Bank · Official World Bank series. Observation year, not download date.
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
Armenia to Azerbaijan
| Product or sector | Value / share |
|---|---|
Azerbaijan to Armenia
| Product or sector | Value / share |
|---|---|
Connections between people
Contacts between people and relations between governments are distinct dimensions. Published counts appear in the table with their date and definition; a resident community is not inferred from trade or diplomatic representation. [1]
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from Armenia living in Azerbaijan | ||
| Residents from Azerbaijan living in Armenia | ||
| Study and training: Armenia in Azerbaijan | ||
| Study and training: Azerbaijan in Armenia | ||
| Academic stays: Armenia in Azerbaijan | ||
| Academic stays: Azerbaijan in Armenia | ||
| Travel: Armenia to Azerbaijan | ||
| Travel: Azerbaijan to Armenia |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
History and institutional framework
Ararat Mirzoyan and Jeyhun Bayramov met in New York on 24 September 2026 on the sidelines of the United Nations General Assembly. They reviewed progress since the agreements reached at the 2025 Washington peace summit. [1]
The scale of both economies
Armenia's nominal GDP is 29.2 billion USD (2025), compared with 75.9 for Azerbaijan (2025). The reference populations are 3.09 and 10.25 million, respectively. In the same year, Armenia's economy was 0.385 times Azerbaijan's in nominal GDP. The comparison provides context on market size, but does not, on its own, measure influence, well-being or diplomatic closeness. Estimates and their sources retain their labels in the tables. [2] [3]
Recent developments
Recent developments and latest available data · Review: 2026-10-08
Cooperation and bilateral issues
They paid particular attention to unblocking economic and transport infrastructure between the two countries. The Armenian communication identifies trade and transit interactions as practical examples of the benefits of peace. Both considered promoting a positive agenda on multilateral platforms and agreed to continue direct dialogue. The text does not specify new ratifications or the definitive legal scope of earlier agreements. [1]
Sources and data
Periods and scope of the figures
Institutional sources and periods accompany each figure. Annual trade, investment positions, residents and visits are distinct measures. Empty cells do not mean zero. Statements of intent are not presented as project implementation or treaties in force.
- Bilateral relations — ARM-AZE
www.mfa.am · Institutional source · Accessed: 2026-10-08
- NY.GDP.MKTP.CD; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07
- SP.POP.TOTL; ISO and reference year; no military dataset expansion
World Bank · Institutional source · Accessed: 2026-10-07