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2022
Flag → Flag
Exports $300MRnk 89 / 221
2022
Flag → Flag
Top Product $14.1MRailway Maintenance Vehicles
2022
Flag → Flag
Exports $5.28BRnk 1 / 141
2022
Flag → Flag
Top Product $11.4BPetroleum Gas
2022
Flag
Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.44Rnk 83 / 133
2022
Flag  
GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
Flag
 GDP$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 140 / 186
2022
Flag
GDP PC $34,158CURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186
2022
Flag
GDP PC$7,737CURRENT US$
Rnk 87 / 186
2012-2022
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GDP PC GROWTH3.21%CURRENT US$
Rnk 134 / 186

About

Italy-Azerbaijan Trade: In 2022, Italy exported $300M to Azerbaijan. The main products that Italy exported to Azerbaijan were Railway Maintenance Vehicles ($14.1M), Cars ($13.9M), and Iron Pipes ($13.6M). Over the past 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 88.1%, from $12.7M in 2017 to $300M in 2022.

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

Azerbaijan-Italy Trade: In 2022, Azerbaijan exported $5.28B to Italy. The main products that Azerbaijan exported to Italy were Petroleum Gas ($11.4B), Crude Petroleum ($6.72B), and Refined Petroleum ($37.5M). Over the past 5 years the exports of Azerbaijan to Italy have increased at an annualized rate of 211%,  from $18.2M in 2017 to $5.28B in 2022.

In 2008, Azerbaijan exported services to Italy worth $11.1M, with Transportation ($6.11M), Services not allocated ($4M), and Travel ($973k) being the largest in terms of value.

Comparison: In 2022,  Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B). That same year, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B).

Latest Trends

March, 2024

About

Overview In March 2024, Italy exported €19.6M and imported €625M from Azerbaijan, resulting in a negative trade balance of €605M. Between March 2023 and March 2024 the exports of Italy have increased by €11.4M (138%) from €8.23M to €19.6M, while imports decreased by €-353M (-36.1%) from €977M to €625M.

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (March 2023 - March 2024)€11.4M(138%)
IMPORT GROWTH (March 2023 - March 2024)€-353M(-36.1%)

This section shows exports and imports data at subnational level for Italy. Click any date in the line plot or any product to explore the exports or imports behavior of Italy over time.

To check Azerbaijan and Italy trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Azerbaijan and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Italy exported $300M to Azerbaijan. The main products exported from Italy to Azerbaijan were Railway Maintenance Vehicles ($14.1M), Cars ($13.9M), and Iron Pipes ($13.6M). During the last 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 88.1%, from $12.7M in 2017 to $300M in 2022.

In 2017, Azerbaijan exported $5.28B to Italy. The main products exported from Azerbaijan to Italy were Petroleum Gas ($11.4B), Crude Petroleum ($6.72B), and Refined Petroleum ($37.5M). During the last 22 years the exports of Azerbaijan to Italy have increased at an annualized rate of 211%, from $18.2M in 1995 to $5.28B in 2017.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$78.5B
Azerbaijan
Top DestinationItaly$18.3B

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

In 2022, countries that imported more from Italy than Azerbaijan included Germany ($78.5B), United States ($68.2B), and France ($63.8B).

In 2022, countries that imported more from Azerbaijan than Italy included Georgia ($645M).

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

Comparative Advantage Italy - Azerbaijan

Flow
Scale

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

During 2022, Italy had a large net trade with Azerbaijan in the exports of Machines ($112M), Transportation ($36M), and Chemical Products ($31.7M).

During 2017, Azerbaijan had a large net trade with Italy in the exports of Mineral Products ($18.2B), Vegetable Products ($28.9M), and Chemical Products ($14M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Azerbaijan+$16MCars
Top Product Potential Azerbaijan Italy+$19.8MRefined 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

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

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

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