Switzerland has emerged as a key destination for Azerbaijani non-oil goods, with imports tripling in the first four months of 2025.
From January to April 2025, Azerbaijan exported $100.5 million worth of non-oil products to Switzerland—three times more than the same period last year, marking a $66.6 million surge. Switzerland accounted for 9.41% of Azerbaijan’s total non-oil exports during this period, ranking fourth among its top markets. Overall, Azerbaijan’s foreign trade turnover reached $16.9 billion, up 24.1% from 2024. Exports totaled $8.8 billion (a 7.5% increase), while imports jumped by 48.8% to $8.1 billion.
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The collective-defence agreement between Türkiye, Saudi Arabia and Pakistan signals that regional powers no longer want to rely solely on external security guarantees. Whether it becomes a stabilising deterrent or another axis of rivalry remains unresolved.
Shipping traffic through the Strait of Hormuz remains limited on Thursday, with no increase in vessel crossings as U.S.-Iran talks to resolve the conflict remained stalled. Nine commodity vessels transited the key waterway on Wednesday, unchanged from the previous day, according to Kpler data.
Shipping through the Strait of Hormuz has slowed, according to the latest data, as uncertainty over the waterway’s reopening kept most shipowners away. Six commodity vessels crossed the strait on Tuesday, down from nine the day before and below the 10-day daily average of 11.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 20th of August, covering the latest developments.
Russian ballistic missile strikes on Ukraine’s capital Kyiv has killed at least sixteen people and injured more than forty others, Ukrainian officials said, with fires reported across the city and Poland activating defensive air operations.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2025, according to ICD–LSEG, as more countries explore Shariah-compliant finance.
Fuel restrictions have returned to parts of Moscow and the surrounding region, adding another strain to Russia’s economy as refinery outages and rising imports weigh on the rouble.
Azerbaijan exported goods worth $17.372 million to Armenia between January and July 2026, according to data from the State Customs Committee, as commercial ties between the two South Caucasus neighbours showed signs of expansion.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
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