Azerbaijan (AZE) and Denmark (DNK) Trade | The Observatory of Economic Complexity

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Azerbaijan-Denmark Trade: In 2023, Azerbaijan exported $714k to Denmark. The main products that Azerbaijan exported to Denmark were Rubberworking Machinery ($100k), Amino-resins ($85.2k), and Excavation Machinery ($68.8k). Over the past 5 years the exports of Azerbaijan to Denmark have decreased at an annualized rate of 4.28%, from $888k in 2018 to $714k in 2023.

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

Denmark-Azerbaijan Trade: In 2023, Denmark exported $36M to Azerbaijan. The main products that Denmark exported to Azerbaijan were Packaged Medicaments ($10.5M), Malt Extract ($2.36M), and Bovine ($2.12M). Over the past 5 years the exports of Denmark to Azerbaijan have increased at an annualized rate of 5.06%, from $28.1M in 2018 to $36M in 2023.

In 2023, Denmark 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, Denmark ranked 22 in the Economic Complexity Index (ECI 1.13), and 37 in total exports ($118B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $714k to Denmark. The main products exported from Azerbaijan to Denmark were Rubberworking Machinery ($100k), Amino-resins ($85.2k), and Excavation Machinery ($68.8k). During the last 5 years the exports of Azerbaijan to Denmark have decreased at an annualized rate of 4.28%, from $888k in 2018 to $714k in 2023.

In 2018, Denmark exported $36M to Azerbaijan. The main products exported from Denmark to Azerbaijan were Packaged Medicaments ($10.5M), Malt Extract ($2.36M), and Bovine ($2.12M). During the last 5 years the exports of Denmark to Azerbaijan have increased at an annualized rate of 5.06%, from $28.1M in 2023 to $36M in 2018.

Exports from Azerbaijan () to Denmark () (2023)

Exports from Denmark () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Denmark ()

Azerbaijan Exports

Date

Denmark Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Denmark
Top DestinationGermany$14.8B

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

In 2023, countries that imported more from Azerbaijan than Denmark included Italy ($11.4B), Turkey ($5.85B), and Russia ($1.2B).

In 2023, countries that imported more from Denmark than Azerbaijan included Germany ($14.8B), United States ($12B), and Sweden ($11.2B).

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

Comparative Advantage Azerbaijan - Denmark

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Azerbaijan had a large net trade with Denmark in the exports of Machines ($349k), Plastics and Rubbers ($164k), and Metals ($127k).

During 2018, Denmark had a large net trade with Azerbaijan in the exports of Chemical Products ($14.7M), Machines ($7.09M), and Foodstuffs ($3.86M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Denmark+$264kRefined Petroleum

Top Product Potential Denmark Azerbaijan+$6.94MPackaged Medicaments

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 Denmark. This means that a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Denmark. Similarly, a dot/product with the flag of Denmark indicates it has a comparative advantage over Azerbaijan.

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Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Denmark () (2023)

Exports from Denmark () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Denmark ()

Azerbaijan Exports

Denmark Exports

Market Competitiveness

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

Comparative Advantage Azerbaijan - Denmark

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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