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2022
Flag → Flag
Exports $23.7kRnk 112 / 141
2022
Flag → Flag
Top Product $23.7kRefined Petroleum
2022
Flag → Flag
Exports $104Rnk 126 / 126
2022
Flag → Flag
Top Product $104Hard Liquor
2022
Flag
Economic Complexity (ECI) ECI -0.44Rnk 83 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.87Rnk 107 / 133
2022
Flag  
GDP$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 140 / 186
2022
Flag
GDP PC $7,737CURRENT US$
Rnk 87 / 186
2012-2022
Flag
GDP PC GROWTH3.21%CURRENT US$
Rnk 134 / 186

About

Azerbaijan-Venezuela Trade: In 2022, Azerbaijan exported $23.7k to Venezuela. The main products that Azerbaijan exported to Venezuela were Refined Petroleum ($23.7k). Over the past 8 years the exports of Azerbaijan to Venezuela have increased at an annualized rate of 19.1%, from $5.85k in 2014 to $23.7k in 2022.

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

Venezuela-Azerbaijan Trade: In 2022, Venezuela exported $104 to Azerbaijan. The main products that Venezuela exported to Azerbaijan were Hard Liquor ($104). Over the past 8 years the exports of Venezuela to Azerbaijan have decreased at an annualized rate of 83.9%,  from $956k in 2014 to $104 in 2022.

In 2022, Venezuela 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, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Azerbaijan exported $23.7k to Venezuela. The main products exported from Azerbaijan to Venezuela were Refined Petroleum ($23.7k). During the last 8 years the exports of Azerbaijan to Venezuela have increased at an annualized rate of 19.1%, from $5.85k in 2014 to $23.7k in 2022.

In 2017, Venezuela exported $104 to Azerbaijan. The main products exported from Venezuela to Azerbaijan were Hard Liquor ($104). During the last 5 years the exports of Venezuela to Azerbaijan have decreased at an annualized rate of 83.9%, from $956k in 2022 to $104 in 2017.

Exports from Azerbaijan (Flag) to Venezuela (Flag) (2022)

Exports from Venezuela (Flag) to Azerbaijan (Flag) (2022)

Latest Data

Trade between Azerbaijan (Flag) and Venezuela (Flag)

Azerbaijan Exports

Market Competitiveness

Color
Azerbaijan
Top DestinationItaly$18.3B
Venezuela
Top DestinationChina$703M

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

In 2022, countries that imported more from Azerbaijan than Venezuela included Italy ($18.3B), Turkey ($3.57B), and Israel ($1.68B).

In 2022, countries that imported more from Venezuela than Azerbaijan included China ($703M), Brazil ($361M), and United States ($438M).

Difference in imports from Venezuela (Flag) and Azerbaijan (Flag) (2022)

Comparative Advantage Azerbaijan - Venezuela

Flow
Scale

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

During 2022, Azerbaijan had a large net trade with Venezuela in the exports of Mineral Products ($23.7k).

During 2017, Venezuela had a large net trade with Azerbaijan in the exports of Foodstuffs ($104).

Economic Complexity

Competitive Landscape

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

Product Space of Azerbaijan (Flag) and Venezuela (Flag) (2022)

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