2023
Flag  
GDP
$296BCURRENT US$
Rnk 47 / 195
2013-2023
Flag
GDP GROWTH
9.35%CURRENT US$
Rnk 158 / 195
2023
Flag
 GDP
$72.4BCURRENT US$
Rnk 83 / 195
2013-2023
Flag
GDP GROWTH
-2.43%CURRENT US$
Rnk 173 / 195
2023
Flag
GDP PC 
$52,926CURRENT US$
Rnk 23 / 195
2013-2023
Flag
GDP PC GROWTH
6.51%CURRENT US$
Rnk 144 / 195
2023
Flag
GDP PC
$7,126CURRENT US$
Rnk 103 / 196
2013-2023
Flag
GDP PC GROWTH
-9.52%CURRENT US$
Rnk 168 / 195

About

Finland-Azerbaijan Trade: In 2023, Finland exported $104M to Azerbaijan. The main products that Finland exported to Azerbaijan were Electric Generating Sets ($74.5M), Butter ($4.54M), and Broadcasting Equipment ($2.28M). Over the past 5 years the exports of Finland to Azerbaijan have increased at an annualized rate of 22.9%, from $37.1M in 2018 to $104M in 2023.

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

Azerbaijan-Finland Trade: In 2023, Azerbaijan exported $4.35M to Finland. The main products that Azerbaijan exported to Finland were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($3.96M), Fruit Juice ($239k), and Motor-working Tools ($40k). Over the past 5 years the exports of Azerbaijan to Finland have increased at an annualized rate of 29%,  from $1.22M in 2018 to $4.35M in 2023.

In 2008, Azerbaijan exported services to Finland worth $11k, with Communications services ($11k) being the largest in terms of value.

Comparison: In 2023,  Finland ranked 13 in the Economic Complexity Index (ECI 1.46), and 45 in total exports ($84.3B). That same year, Azerbaijan ranked 84 in the Economic Complexity Index (ECI -0.43), and 70 in total exports ($31.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Finland exported $104M to Azerbaijan. The main products exported from Finland to Azerbaijan were Electric Generating Sets ($74.5M), Butter ($4.54M), and Broadcasting Equipment ($2.28M). During the last 5 years the exports of Finland to Azerbaijan have increased at an annualized rate of 22.9%, from $37.1M in 2018 to $104M in 2023.

In 2018, Azerbaijan exported $4.35M to Finland. The main products exported from Azerbaijan to Finland were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($3.96M), Fruit Juice ($239k), and Motor-working Tools ($40k). During the last 5 years the exports of Azerbaijan to Finland have increased at an annualized rate of 29%, from $1.22M in 2023 to $4.35M in 2018.

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

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

Latest Data

Trade between Finland (Flag) and Azerbaijan (Flag)

Finland Exports

Azerbaijan Exports

Market Competitiveness

Color
Finland
Top Destination
United States$9.68B
Azerbaijan
Top Destination
Italy$11.4B

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

In 2023, countries that imported more from Finland than Azerbaijan included United States ($9.68B), Germany ($9.26B), and Sweden ($8.13B).

In 2023, countries that imported more from Azerbaijan than Finland included Italy ($11.4B), Turkey ($5.85B), and Israel ($1.4B).

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

Comparative Advantage Finland - Azerbaijan

Flow
Scale

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

During 2023, Finland had a large net trade with Azerbaijan in the exports of Machines ($85.6M), Animal Products ($5.21M), and Chemical Products ($2.81M).

During 2018, Azerbaijan had a large net trade with Finland in the exports of Chemical Products ($3.96M), Foodstuffs ($239k), and Machines ($77.4k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Finland Azerbaijan+$1.68MTelephones
Top Product Potential Azerbaijan Finland+$441kEthylene Polymers

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

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

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