Azerbaijan (AZE) and Iran (IRN) Trade | The Observatory of Economic Complexity

About

Azerbaijan-Iran Trade: In 2023, Azerbaijan exported $14.3M to Iran. The main products that Azerbaijan exported to Iran were Raw Cotton ($4.74M), Perfume Plants ($1.04M), and Other Vegetable Residues ($1.04M). Over the past 5 years the exports of Azerbaijan to Iran have decreased at an annualized rate of 19.7%, from $42.9M in 2018 to $14.3M in 2023.

In 2008, Azerbaijan exported services to Iran worth $73.9M, with Travel ($60.1M), Services not allocated ($7.79M), and Transportation ($3.53M) being the largest in terms of value.

Iran-Azerbaijan Trade: In 2023, Iran exported $473M to Azerbaijan. The main products that Iran exported to Azerbaijan were Ethylene Polymers ($41.2M), Unglazed Ceramics ($27.9M), and Butter ($23.5M). Over the past 5 years the exports of Iran to Azerbaijan have decreased at an annualized rate of 1.29%, from $505M in 2018 to $473M in 2023.

In 2023, Iran 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, Iran ranked 58 in the Economic Complexity Index (ECI 0.084), and 92 in total exports ($13.2B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $14.3M to Iran. The main products exported from Azerbaijan to Iran were Raw Cotton ($4.74M), Perfume Plants ($1.04M), and Other Vegetable Residues ($1.04M). During the last 5 years the exports of Azerbaijan to Iran have decreased at an annualized rate of 19.7%, from $42.9M in 2018 to $14.3M in 2023.

In 2018, Iran exported $473M to Azerbaijan. The main products exported from Iran to Azerbaijan were Ethylene Polymers ($41.2M), Unglazed Ceramics ($27.9M), and Butter ($23.5M). During the last 5 years the exports of Iran to Azerbaijan have decreased at an annualized rate of 1.29%, from $505M in 2023 to $473M in 2018.

Exports from Azerbaijan () to Iran () (2023)

Exports from Iran () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Iran ()

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Iran
Top DestinationChina$4.59B

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

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

In 2023, countries that imported more from Iran than Azerbaijan included China ($4.59B), Pakistan ($943M), and Armenia ($597M).

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

Comparative Advantage Azerbaijan - Iran

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Azerbaijan had a large net trade with Iran in the exports of Textiles ($5.52M), Machines ($1.63M), and Vegetable Products ($1.57M).

During 2018, Iran had a large net trade with Azerbaijan in the exports of Plastics and Rubbers ($93.7M), Metals ($75.7M), and Stone And Glass ($63.1M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Iran+$7.54MPetroleum Gas

Top Product Potential Iran Azerbaijan+$6MEthylene Polymers

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Iran () (2023)

Exports from Iran () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Iran ()

Azerbaijan Exports

Market Competitiveness

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

Comparative Advantage Azerbaijan - Iran

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring