Greece (GRC) and Azerbaijan (AZE) Trade | The Observatory of Economic Complexity

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Greece-Azerbaijan Trade: In 2023, Greece exported $32.9M to Azerbaijan. The main products that Greece exported to Azerbaijan were Refined Petroleum ($10.9M), Aluminium Oxide ($5.63M), and Packaged Medicaments ($3.77M). Over the past 5 years the exports of Greece to Azerbaijan have increased at an annualized rate of 27.6%, from $9.71M in 2018 to $32.9M in 2023.

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

Azerbaijan-Greece Trade: In 2023, Azerbaijan exported $1.27B to Greece. The main products that Azerbaijan exported to Greece were Petroleum Gas ($838M), Crude Petroleum ($311M), and Refined Petroleum ($109M). Over the past 5 years the exports of Azerbaijan to Greece have increased at an annualized rate of 19.6%, from $253M in 2018 to $1.27B in 2023.

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

Comparison: In 2023, Greece ranked 46 in the Economic Complexity Index (ECI 0.4), and 56 in total exports ($53.3B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Greece exported $32.9M to Azerbaijan. The main products exported from Greece to Azerbaijan were Refined Petroleum ($10.9M), Aluminium Oxide ($5.63M), and Packaged Medicaments ($3.77M). During the last 5 years the exports of Greece to Azerbaijan have increased at an annualized rate of 27.6%, from $9.71M in 2018 to $32.9M in 2023.

In 2018, Azerbaijan exported $1.27B to Greece. The main products exported from Azerbaijan to Greece were Petroleum Gas ($838M), Crude Petroleum ($311M), and Refined Petroleum ($109M). During the last 5 years the exports of Azerbaijan to Greece have increased at an annualized rate of 19.6%, from $253M in 2023 to $1.27B in 2018.

Exports from Greece () to Azerbaijan () (2023)

Exports from Azerbaijan () to Greece () (2023)

Latest Data

Trade between Greece () and Azerbaijan ()

Greece Exports

Date

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Greece
Top DestinationItaly$6.21B

Azerbaijan
Top DestinationItaly$11.4B

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

In 2023, countries that imported more from Greece than Azerbaijan included Cyprus ($3.03B), Germany ($3.06B), and United States ($2.12B).

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

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

Comparative Advantage Greece - Azerbaijan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Greece had a large net trade with Azerbaijan in the exports of Mineral Products ($11.9M), Chemical Products ($10.5M), and Foodstuffs ($2.83M).

During 2018, Azerbaijan had a large net trade with Greece in the exports of Mineral Products ($1.26B), Chemical Products ($3.36M), and Machines ($3.28M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Greece Azerbaijan+$3.45MPackaged Medicaments

Top Product Potential Azerbaijan Greece+$230MCrude 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 Greece and Azerbaijan. This means that a dot/product with the flag of Greece indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Greece.

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Historical Data

Bilateral Trade by Products

Exports from Greece () to Azerbaijan () (2023)

Exports from Azerbaijan () to Greece () (2023)

Latest Data

Trade between Greece () and Azerbaijan ()

Greece Exports

Azerbaijan Exports

Market Competitiveness

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

Comparative Advantage Greece - Azerbaijan

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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