Total trading volume on the Baku Stock Exchange reached 33.528 billion manats in the first nine months of 2026, down 17.452 billion manats from the same period last year, the exchange reported.
According to statistics released by the Baku Stock Exchange (BFB), trading turnover fell 34.2% year-on-year, down from 50.980 billion manats recorded in January-September 2025. Repo transactions continued to make up the bulk of activity, as is typically the case.
Repo deals totaled 26.188 billion manats, or 78.1% of overall turnover, but that figure was still down 14.155 billion manats, or 35%, compared with the same period a year earlier.
Non-repo transactions amounted to 7.340 billion manats in total, with government securities accounting for 5.376 billion manats of that, or 86%.
Shifts in government and corporate securities
Within the government securities category, trading in government bonds came to 1.624 billion manats, notes issued by the Central Bank of Azerbaijan (CBA) reached 2.944 billion manats, and mortgage bonds totaled 808.4 million manats. Corporate securities trading volume stood at 1.964 billion manats.
The non-repo segment overall contracted by 3.3 billion manats, or 31.2%. The steepest decline came in government securities, where turnover dropped 4.6-fold, falling by 5.850 billion manats to 1.624 billion manats.
By contrast, the corporate bond market expanded, with turnover rising 1.142 billion manats — a 2.4-fold increase — to reach 1.964 billion manats. Trading in Central Bank notes also grew 2.4-fold, up 1.732 billion manats to 2.944 billion manats. Mortgage bonds moved in the opposite direction, falling 358 million manats, or 30.7%, to settle at 808 million manats.
