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Pricing

2023
Flag → Flag
Exports $11.4BRnk 1 / 137
2023
Flag → Flag
Top Product $6.55BCrude Petroleum
2023
Flag → Flag
Exports $445MRnk 85 / 219
2023
Flag → Flag
Top Product $40.1MGas Turbines
2023
Flag
Economic Complexity (ECI) ECI -0.43Rnk 84 / 132
2023
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Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$72.4BCURRENT US$
Rnk 83 / 195
2013-2023
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GDP GROWTH-2.43%CURRENT US$
Rnk 173 / 195
2023
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 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
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GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
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GDP PC $7,126CURRENT US$
Rnk 103 / 195
2013-2023
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GDP PC GROWTH-9.52%CURRENT US$
Rnk 168 / 195
2023
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GDP PC$39,003CURRENT US$
Rnk 32 / 196
2013-2023
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GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Azerbaijan-Italy Trade: In 2023, Azerbaijan exported $11.4B to Italy. The main products that Azerbaijan exported to Italy were Crude Petroleum ($6.55B), Petroleum Gas ($4.81B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($24.3M). Over the past 5 years the exports of Azerbaijan to Italy have increased at an annualized rate of 11.8%, from $6.55B in 2018 to $11.4B in 2023.

In 2008, Azerbaijan exported services to Italy worth $11.1M, with Transportation ($6.11M), Services not allocated ($4M), and Travel ($973k) being the largest in terms of value.

Italy-Azerbaijan Trade: In 2023, Italy exported $445M to Azerbaijan. The main products that Italy exported to Azerbaijan were Gas Turbines ($40.1M), Cars ($22.8M), and Packaged Medicaments ($16.8M). Over the past 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 3.67%,  from $346M in 2018 to $445M in 2023.

In 2023, Italy 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, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Azerbaijan exported $11.4B to Italy. The main products exported from Azerbaijan to Italy were Crude Petroleum ($6.55B), Petroleum Gas ($4.81B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($24.3M). During the last 5 years the exports of Azerbaijan to Italy have increased at an annualized rate of 11.8%, from $6.55B in 2018 to $11.4B in 2023.

In 2018, Italy exported $445M to Azerbaijan. The main products exported from Italy to Azerbaijan were Gas Turbines ($40.1M), Cars ($22.8M), and Packaged Medicaments ($16.8M). During the last 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 3.67%, from $346M in 2023 to $445M in 2018.

Exports from Azerbaijan (Flag) to Italy (Flag) (2023)

Exports from Italy (Flag) to Azerbaijan (Flag) (2023)

Latest Data

Trade between Azerbaijan (Flag) and Italy (Flag)

Azerbaijan Exports

Italy Exports

Market Competitiveness

Color
Azerbaijan
Top DestinationItaly$11.4B
Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Azerbaijan than Italy included Georgia ($654M).

In 2023, countries that imported more from Italy than Azerbaijan included United States ($70.9B), Germany ($71.4B), and France ($61.1B).

Difference in imports from Italy (Flag) and Azerbaijan (Flag) (2023)

Comparative Advantage Azerbaijan - Italy

Flow
Scale

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

During 2023, Azerbaijan had a large net trade with Italy in the exports of Mineral Products ($11.4B), Chemical Products ($32.7M), and Vegetable Products ($15M).

During 2018, Italy had a large net trade with Azerbaijan in the exports of Machines ($170M), Chemical Products ($53.9M), and Transportation ($42.5M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Azerbaijan Italy+$19.8MRefined Petroleum
Top Product Potential Italy Azerbaijan+$16MCars

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

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

Product Space of Azerbaijan (Flag) and Italy (Flag) (2023)

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