Azerbaijan (AZE) and Thailand (THA) Trade | The Observatory of Economic Complexity

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Azerbaijan-Thailand Trade: In 2022, Azerbaijan exported $267M to Thailand. The main products that Azerbaijan exported to Thailand were Crude Petroleum ($264M), Raw Aluminium ($2.93M), and Electric Batteries ($72.8k). Over the past 5 years the exports of Azerbaijan to Thailand have increased at an annualized rate of 19.5%, from $109M in 2017 to $267M in 2022.

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

Thailand-Azerbaijan Trade: In 2022, Thailand exported $59.9M to Azerbaijan. The main products that Thailand exported to Azerbaijan were Cars ($15.3M), Refrigerators ($15M), and Air Conditioners ($6.57M). Over the past 5 years the exports of Thailand to Azerbaijan have increased at an annualized rate of 19.4%, from $24.7M in 2017 to $59.9M in 2022.

In 2022, Thailand 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, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 27 in total exports ($312B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Azerbaijan exported $267M to Thailand. The main products exported from Azerbaijan to Thailand were Crude Petroleum ($264M), Raw Aluminium ($2.93M), and Electric Batteries ($72.8k). During the last 5 years the exports of Azerbaijan to Thailand have increased at an annualized rate of 19.5%, from $109M in 2017 to $267M in 2022.

In 2017, Thailand exported $59.9M to Azerbaijan. The main products exported from Thailand to Azerbaijan were Cars ($15.3M), Refrigerators ($15M), and Air Conditioners ($6.57M). During the last 5 years the exports of Thailand to Azerbaijan have increased at an annualized rate of 19.4%, from $24.7M in 2022 to $59.9M in 2017.

Exports from Azerbaijan () to Thailand () (2022)

Exports from Thailand () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Thailand ()

Azerbaijan Exports

Date

Thailand Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$18.3B

Thailand
Top DestinationUnited States$53.4B

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

In 2022, countries that imported more from Azerbaijan than Thailand included Italy ($18.3B), Turkey ($3.57B), and Greece ($1.51B).

In 2022, countries that imported more from Thailand than Azerbaijan included United States ($53.4B), China ($35.3B), and Japan ($24.6B).

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

Comparative Advantage Azerbaijan - Thailand

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Azerbaijan had a large net trade with Thailand in the exports of Mineral Products ($264M), Metals ($2.93M), and Machines ($127k).

During 2017, Thailand had a large net trade with Azerbaijan in the exports of Machines ($29.3M), Transportation ($18.1M), and Vegetable Products ($3.19M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Thailand+$176MCrude Petroleum

Top Product Potential Thailand Azerbaijan+$14.3MCars

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

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Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Thailand () (2022)

Exports from Thailand () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Thailand ()

Azerbaijan Exports

Thailand Exports

Market Competitiveness

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

Comparative Advantage Azerbaijan - Thailand

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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