BAKU, Azerbaijan, October 13. In the first half
of 2026, the total trading volume on Azerbaijan’s securities market
decreased by 32%, or 11.9 billion manat ($7 billion), compared to
the same period last year, totaling 25 billion manat ($14.7
billion).
This was stated in the “Financial Stability Report” published by
the Central Bank of Azerbaijan (CBA).
The decline in trading volume during the reporting period was
mainly due to a decrease in the volume of repo and reverse repo
transactions conducted with the Central Bank. Trading volume in the
corporate securities market increased by 24% or 400 million manat
($235.4 million) compared to the first half of last year. The
turnover of government securities decreased by 62% or 2.6 billion
manat ($1.5 billion).
Trading volume in the primary market for corporate securities
increased by 65%, or 600 million manat ($353.1 million), reaching
1.5 billion manat ($880 million). At the same time, trading volume
in the secondary market for these securities decreased by 34%, or
200 million manat ($117.7 million), to 400 million manat ($235.4
million).
Trading volume in the primary market for government securities
decreased by 53% or 1.2 billion manat ($710 million) compared to
the same period last year, while trading volume in the secondary
market decreased by 73% or 1.4 billion manat ($820 million). The
report attributes the decline in trading volume in the government
securities market to a lower volume of new issuances by the
Ministry of Finance.
Activity in the repo and reverse repo markets also slowed. In
the first six months of 2026, the total volume of these
transactions decreased by 30.9%, or 9.7 billion manat ($5.7
billion), compared to the same period last year, totaling 21.6
billion manat ($12.7 billion). However, the CBA noted that overall
activity in the repo market remains at a satisfactory level.
The volume of government securities in circulation also
decreased during the reporting period. Compared to the end of last
year, this figure fell by 20%, or 1.8 billion manat ($1.1 billion),
to 7.2 billion manat ($4.2 billion). The main reason for the
decline was a lower volume of new issuances by the Ministry of
Finance.
At the same time, the volume of banknotes issued by the Central
Bank of Azerbaijan in circulation increased by 30%, or 100 million
manat ($58.8 million), reaching 500 million manat ($294.2
million).
In the first half of 2026, investment companies also recorded
growth in their balance sheet figures. Compared to the end of last
year, their assets increased by 2% or 2 million manat ($1.1
million) to 123 million manat ($72.3 million), while liabilities
rose by 9% or 6 million manat ($3.5 million) to 70 million manat
($41.1 million).
