ECONOMETRIC MODELING OF THE RELATIONSHIP BETWEEN FOREIGN TRADE TURNOVER AND GDP IN THE REPUBLIC OF AZERBAIJAN

The article examines the relationship between foreign trade indicators and gross domestic product and evaluates its impact on economic growth. It analyzes the expansion of foreign economic relations in the Republic of Azerbaijan in recent decades, particularly the influence of energy exports on foreign trade turnover and GDP dynamics. At the same time, considering the development of the non-oil sector, export diversification, and structural changes in import-export operations, the impact of foreign trade on economic growth is comprehensively investigated. The study employs econometric methods, and the analyses were conducted using the EViews 12 software package. Within this framework, regression and correlation analyses, graphical representations, descriptive statistical calculations, the Dickey–Fuller unit root test, Granger causality test, CUSUM stability test, and cointegration analysis were carried out.