Azerbaijan (AZE) and Portugal (PRT) Trade | The Observatory of Economic Complexity

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Azerbaijan-Portugal Trade: In 2022, Azerbaijan exported $757M to Portugal. The main products that Azerbaijan exported to Portugal were Crude Petroleum ($756M), Electric Soldering Equipment ($303k), and Tanned Equine and Bovine Hides ($164k). Over the past 5 years the exports of Azerbaijan to Portugal have increased at an annualized rate of 7.27%, from $533M in 2017 to $757M in 2022.

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

Portugal-Azerbaijan Trade: In 2022, Portugal exported $10.1M to Azerbaijan. The main products that Portugal exported to Azerbaijan were Integrated Circuits ($2M), Agglomerated Cork ($1.51M), and Packaged Medicaments ($868k). Over the past 5 years the exports of Portugal to Azerbaijan have increased at an annualized rate of 2.36%, from $8.17M in 2017 to $10.1M in 2022.

In 2022, Portugal 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, Portugal ranked 42 in the Economic Complexity Index (ECI 0.57), and 48 in total exports ($81.7B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Azerbaijan exported $757M to Portugal. The main products exported from Azerbaijan to Portugal were Crude Petroleum ($756M), Electric Soldering Equipment ($303k), and Tanned Equine and Bovine Hides ($164k). During the last 5 years the exports of Azerbaijan to Portugal have increased at an annualized rate of 7.27%, from $533M in 2017 to $757M in 2022.

In 2017, Portugal exported $10.1M to Azerbaijan. The main products exported from Portugal to Azerbaijan were Integrated Circuits ($2M), Agglomerated Cork ($1.51M), and Packaged Medicaments ($868k). During the last 5 years the exports of Portugal to Azerbaijan have increased at an annualized rate of 2.36%, from $8.17M in 2022 to $10.1M in 2017.

Exports from Azerbaijan () to Portugal () (2022)

Exports from Portugal () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Portugal ()

Azerbaijan Exports

Date

Portugal Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$18.3B

Portugal
Top DestinationSpain$20.5B

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

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

In 2022, countries that imported more from Portugal than Azerbaijan included Spain ($20.5B), France ($9.49B), and Germany ($8.76B).

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

Comparative Advantage Azerbaijan - Portugal

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Azerbaijan had a large net trade with Portugal in the exports of Mineral Products ($756M), Machines ($632k), and Animal Hides ($165k).

During 2017, Portugal had a large net trade with Azerbaijan in the exports of Machines ($3.65M), Wood Products ($1.81M), and Chemical Products ($959k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Portugal+$882kRefined Petroleum

Top Product Potential Portugal Azerbaijan+$2.07MPackaged 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 Portugal. This means that a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Portugal. Similarly, a dot/product with the flag of Portugal indicates it has a comparative advantage over Azerbaijan.

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Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Portugal () (2022)

Exports from Portugal () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Portugal ()

Azerbaijan Exports

Portugal Exports

Market Competitiveness

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

Comparative Advantage Azerbaijan - Portugal

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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