This study investigates the applicability of the J-curve and the Marshall-Lerner condition in Azerbaijan. Using multiple regression models and the Ordinary Least Squares (OLS) method to estimate parameters, we analyzed annual data from 1997 to 2024. As a result, we could not confirm the existence of the J-curve in Azerbaijan for this period. This outcome reflects Azerbaijan’s economic reality, as the devaluation during this time did not allow domestic production to shift toward exports in the short term. Subsequently, we considered quarterly oil sector indicators for the period 2005–2024 and discovered useful results regarding the presence of the J-curve and the Marshall-Lerner condition in Azerbaijan. Empirical analyses revealed relationship among oil exports, GDP, oil prices, and the exchange rate, thereby confirming both the Marshall-Lerner condition and the J-curve phenomenon. The findings are consistent with many other studies conducted in oil-exporting countries.