Azerbaijan (AZE) and Romania (ROU) Trade | The Observatory of Economic Complexity

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Azerbaijan-Romania Trade: In 2023, Azerbaijan exported $515M to Romania. The main products that Azerbaijan exported to Romania were Crude Petroleum ($273M), Petroleum Gas ($171M), and Nitrogenous Fertilizers ($37.4M). Over the past 5 years the exports of Azerbaijan to Romania have increased at an annualized rate of 4.56%, from $412M in 2018 to $515M in 2023.

In 2023, Azerbaijan did not export any services to Romania.

Romania-Azerbaijan Trade: In 2023, Romania exported $42.4M to Azerbaijan. The main products that Romania exported to Azerbaijan were Refined Petroleum ($10.9M), Hair Products ($5.88M), and Packaged Medicaments ($2.91M). Over the past 5 years the exports of Romania to Azerbaijan have decreased at an annualized rate of 5.4%, from $56M in 2018 to $42.4M in 2023.

In 2023, Romania 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, Romania ranked 28 in the Economic Complexity Index (ECI 1.02), and 41 in total exports ($104B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $515M to Romania. The main products exported from Azerbaijan to Romania were Crude Petroleum ($273M), Petroleum Gas ($171M), and Nitrogenous Fertilizers ($37.4M). During the last 5 years the exports of Azerbaijan to Romania have increased at an annualized rate of 4.56%, from $412M in 2018 to $515M in 2023.

In 2018, Romania exported $42.4M to Azerbaijan. The main products exported from Romania to Azerbaijan were Refined Petroleum ($10.9M), Hair Products ($5.88M), and Packaged Medicaments ($2.91M). During the last 5 years the exports of Romania to Azerbaijan have decreased at an annualized rate of 5.4%, from $56M in 2023 to $42.4M in 2018.

Exports from Azerbaijan () to Romania () (2023)

Exports from Romania () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Romania ()

Azerbaijan Exports

Date

Romania Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Romania
Top DestinationGermany$19.9B

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

In 2023, countries that imported more from Azerbaijan than Romania included Turkey ($5.85B), Italy ($11.4B), and Russia ($1.2B).

In 2023, countries that imported more from Romania than Azerbaijan included Germany ($19.9B), France ($6.5B), and United Kingdom ($5.14B).

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

Comparative Advantage Azerbaijan - Romania

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Azerbaijan had a large net trade with Romania in the exports of Mineral Products ($445M), Chemical Products ($65.8M), and Machines ($3.58M).

During 2018, Romania had a large net trade with Azerbaijan in the exports of Mineral Products ($10.9M), Chemical Products ($8.91M), and Machines ($8.13M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Romania+$71.5MCrude Petroleum

Top Product Potential Romania Azerbaijan+$6.43MRefined Petroleum

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

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Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Romania () (2023)

Exports from Romania () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Romania ()

Azerbaijan Exports

Romania Exports

Market Competitiveness

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

Comparative Advantage Azerbaijan - Romania

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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