Azerbaijan (AZE) and Bolivia (BOL) Trade | The Observatory of Economic Complexity

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Azerbaijan-Bolivia Trade: In 2023, Azerbaijan exported $8 to Bolivia. The main products that Azerbaijan exported to Bolivia were Engine Parts ($8). Over the past 6 years the exports of Azerbaijan to Bolivia have decreased at an annualized rate of 67.8%, from $7.14k in 2017 to $8 in 2023.

In 2023, Azerbaijan did not export any services to Bolivia.

Bolivia-Azerbaijan Trade: In 2023, Bolivia exported $310k to Azerbaijan. The main products that Bolivia exported to Azerbaijan were Raw Tin ($294k), Coconuts, Brazil Nuts, and Cashews ($12.8k), and Other Processed Fruits and Nuts ($1.7k). Over the past 6 years the exports of Bolivia to Azerbaijan have increased at an annualized rate of 84.4%, from $14.5k in 2017 to $310k in 2023.

In 2023, Bolivia did not export any services to Azerbaijan.

Comparison: In 2023, Azerbaijan ranked 84 in the Economic Complexity Index (ECI -0.43), and 70 in total exports ($31.2B). That same year, Bolivia ranked 105 in the Economic Complexity Index (ECI -0.85), and 103 in total exports ($10.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $8 to Bolivia. The main products exported from Azerbaijan to Bolivia were Engine Parts ($8). During the last 6 years the exports of Azerbaijan to Bolivia have decreased at an annualized rate of 67.8%, from $7.14k in 2017 to $8 in 2023.

In 2018, Bolivia exported $310k to Azerbaijan. The main products exported from Bolivia to Azerbaijan were Raw Tin ($294k), Coconuts, Brazil Nuts, and Cashews ($12.8k), and Other Processed Fruits and Nuts ($1.7k). During the last 5 years the exports of Bolivia to Azerbaijan have increased at an annualized rate of 84.4%, from $14.5k in 2023 to $310k in 2018.

Exports from Azerbaijan () to Bolivia () (2023)

Exports from Bolivia () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Bolivia ()

Azerbaijan Exports

Date

Bolivia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Bolivia
Top DestinationBrazil$1.54B

This map shows whether countries import more from Azerbaijan or Bolivia. Each country is colored based on the difference in imports they receive from Azerbaijan and Bolivia or the difference in the growth in imports.

In 2023, countries that imported more from Azerbaijan than Bolivia included Italy ($11.4B), Turkey ($5.85B), and Israel ($1.4B).

In 2023, countries that imported more from Bolivia than Azerbaijan included Brazil ($1.54B), Argentina ($1.15B), and China ($1.21B).

Difference in imports from Bolivia () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Bolivia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Azerbaijan and Bolivia by product, considering products traded by both, Azerbaijan and Bolivia.

During 2023, Azerbaijan had a large net trade with Bolivia in the exports of Machines ($8).

During 2018, Bolivia had a large net trade with Azerbaijan in the exports of Metals ($294k), Vegetable Products ($14k), and Foodstuffs ($1.7k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Bolivia+$3.61kRefined Petroleum

Top Product Potential Bolivia Azerbaijan+$25.5kCoconuts, Brazil Nuts, and Cashews

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Azerbaijan and Bolivia. This means that a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Bolivia. Similarly, a dot/product with the flag of Bolivia indicates it has a comparative advantage over Azerbaijan.

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Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Bolivia () (2023)

Exports from Bolivia () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Bolivia ()

Azerbaijan Exports

Bolivia Exports

Market Competitiveness

Difference in imports from Bolivia () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Bolivia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Azerbaijan () and Bolivia () (2023)

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