Azerbaijan (AZE) and Greece (GRC) Trade | The Observatory of Economic Complexity

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Azerbaijan-Greece Trade: In 2022, Azerbaijan exported $1.51B to Greece. The main products that Azerbaijan exported to Greece were Petroleum Gas ($1.24B), Crude Petroleum ($267M), and Nitrogenous Fertilizers ($1.92M). Over the past 5 years the exports of Azerbaijan to Greece have increased at an annualized rate of 57.5%, from $156M in 2017 to $1.51B in 2022.

In 2022, Azerbaijan did not export any services to Greece.

Greece-Azerbaijan Trade: In 2022, Greece exported $27.2M to Azerbaijan. The main products that Greece exported to Azerbaijan were Aluminium Oxide ($9.79M), Raw Tobacco ($6.92M), and Packaged Medicaments ($1.56M). Over the past 5 years the exports of Greece to Azerbaijan have increased at an annualized rate of 16.4%, from $12.7M in 2017 to $27.2M in 2022.

In 2022, Greece did not export any services to Azerbaijan.

Comparison: In 2022, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B). That same year, Greece ranked 50 in the Economic Complexity Index (ECI 0.33), and 57 in total exports ($55.7B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Azerbaijan exported $1.51B to Greece. The main products exported from Azerbaijan to Greece were Petroleum Gas ($1.24B), Crude Petroleum ($267M), and Nitrogenous Fertilizers ($1.92M). During the last 5 years the exports of Azerbaijan to Greece have increased at an annualized rate of 57.5%, from $156M in 2017 to $1.51B in 2022.

In 2017, Greece exported $27.2M to Azerbaijan. The main products exported from Greece to Azerbaijan were Aluminium Oxide ($9.79M), Raw Tobacco ($6.92M), and Packaged Medicaments ($1.56M). During the last 5 years the exports of Greece to Azerbaijan have increased at an annualized rate of 16.4%, from $12.7M in 2022 to $27.2M in 2017.

Exports from Azerbaijan () to Greece () (2022)

Exports from Greece () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Greece ()

Azerbaijan Exports

Date

Greece Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$18.3B

Greece
Top DestinationItaly$5.82B

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

In 2022, countries that imported more from Azerbaijan than Greece included Italy ($18.3B), India ($1.64B), and Turkey ($3.57B).

In 2022, countries that imported more from Greece than Azerbaijan included Bulgaria ($3.62B), Cyprus ($2.92B), and Germany ($3.45B).

Difference in imports from Greece () and Azerbaijan () (2022)

Comparative Advantage Azerbaijan - Greece

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Azerbaijan had a large net trade with Greece in the exports of Mineral Products ($1.51B), Chemical Products ($1.93M), and Plastics and Rubbers ($349k).

During 2017, Greece had a large net trade with Azerbaijan in the exports of Chemical Products ($12.5M), Foodstuffs ($7.31M), and Metals ($1.32M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Greece+$230MCrude Petroleum

Top Product Potential Greece Azerbaijan+$3.45MPackaged 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 Greece. This means that a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Greece. Similarly, a dot/product with the flag of Greece indicates it has a comparative advantage over Azerbaijan.

About

Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Greece () (2022)

Exports from Greece () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Greece ()

Azerbaijan Exports

Greece Exports

Market Competitiveness

Difference in imports from Greece () and Azerbaijan () (2022)

Comparative Advantage Azerbaijan - Greece

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Azerbaijan () and Greece () (2022)

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