Azerbaijan (AZE) and Hong Kong (HKG) Trade | The Observatory of Economic Complexity

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Azerbaijan-Hong Kong Trade: In 2023, Azerbaijan exported $21.2M to Hong Kong. The main products that Azerbaijan exported to Hong Kong were Gas Turbines ($14.2M), Diamonds ($4.04M), and Animal Organs ($1.31M). Over the past 5 years the exports of Azerbaijan to Hong Kong have increased at an annualized rate of 50.7%, from $2.73M in 2018 to $21.2M in 2023.

In 2023, Azerbaijan did not export any services to Hong Kong.

Hong Kong-Azerbaijan Trade: In 2023, Hong Kong exported $15.6M to Azerbaijan. The main products that Hong Kong exported to Azerbaijan were Computers ($4.15M), Integrated Circuits ($2.33M), and Office Machine Parts ($2.11M). Over the past 5 years the exports of Hong Kong to Azerbaijan have decreased at an annualized rate of 7.65%, from $23.3M in 2018 to $15.6M in 2023.

In 2023, Hong Kong 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, Hong Kong ranked 23 in the Economic Complexity Index (ECI 1.12), and 38 in total exports ($117B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $21.2M to Hong Kong. The main products exported from Azerbaijan to Hong Kong were Gas Turbines ($14.2M), Diamonds ($4.04M), and Animal Organs ($1.31M). During the last 5 years the exports of Azerbaijan to Hong Kong have increased at an annualized rate of 50.7%, from $2.73M in 2018 to $21.2M in 2023.

In 2018, Hong Kong exported $15.6M to Azerbaijan. The main products exported from Hong Kong to Azerbaijan were Computers ($4.15M), Integrated Circuits ($2.33M), and Office Machine Parts ($2.11M). During the last 5 years the exports of Hong Kong to Azerbaijan have decreased at an annualized rate of 7.65%, from $23.3M in 2023 to $15.6M in 2018.

Exports from Azerbaijan () to Hong Kong () (2023)

Exports from Hong Kong () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Hong Kong ()

Azerbaijan Exports

Date

Hong Kong Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Hong Kong
Top DestinationChina$25.3B

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

In 2023, countries that imported more from Azerbaijan than Hong Kong included Italy ($11.4B), Turkey ($5.85B), and Greece ($1.27B).

In 2023, countries that imported more from Hong Kong than Azerbaijan included China ($25.3B), Vietnam ($14.4B), and South Korea ($9.5B).

Difference in imports from Hong Kong () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Hong Kong

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Azerbaijan had a large net trade with Hong Kong in the exports of Machines ($15.2M), Precious Metals ($4.24M), and Animal Products ($1.32M).

During 2018, Hong Kong had a large net trade with Azerbaijan in the exports of Machines ($11.5M), Instruments ($2.45M), and Textiles ($404k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Hong Kong+$836kCars

Top Product Potential Hong Kong Azerbaijan+$2.8MComputers

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

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Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Hong Kong () (2023)

Exports from Hong Kong () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Hong Kong ()

Azerbaijan Exports

Hong Kong Exports

Market Competitiveness

Difference in imports from Hong Kong () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Hong Kong

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Azerbaijan () and Hong Kong () (2023)

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