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

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Thailand-Azerbaijan Trade: In 2023, Thailand exported $73M to Azerbaijan. The main products that Thailand exported to Azerbaijan were Cars ($18.2M), Refrigerators ($12.2M), and Air Conditioners ($7.47M). Over the past 5 years the exports of Thailand to Azerbaijan have increased at an annualized rate of 10.2%, from $45M in 2018 to $73M in 2023.

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

Azerbaijan-Thailand Trade: In 2023, Azerbaijan exported $31.3M to Thailand. The main products that Azerbaijan exported to Thailand were Crude Petroleum ($29.2M), Raw Aluminium ($2.03M), and Knotted Carpets ($65k). Over the past 5 years the exports of Azerbaijan to Thailand have decreased at an annualized rate of 29.7%, from $182M in 2018 to $31.3M in 2023.

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

Comparison: In 2023, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). 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, Thailand exported $73M to Azerbaijan. The main products exported from Thailand to Azerbaijan were Cars ($18.2M), Refrigerators ($12.2M), and Air Conditioners ($7.47M). During the last 5 years the exports of Thailand to Azerbaijan have increased at an annualized rate of 10.2%, from $45M in 2018 to $73M in 2023.

In 2018, Azerbaijan exported $31.3M to Thailand. The main products exported from Azerbaijan to Thailand were Crude Petroleum ($29.2M), Raw Aluminium ($2.03M), and Knotted Carpets ($65k). During the last 5 years the exports of Azerbaijan to Thailand have decreased at an annualized rate of 29.7%, from $182M in 2023 to $31.3M in 2018.

Exports from Thailand () to Azerbaijan () (2023)

Exports from Azerbaijan () to Thailand () (2023)

Latest Data

Trade between Thailand () and Azerbaijan ()

Thailand Exports

Date

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$58.5B

Azerbaijan
Top DestinationItaly$11.4B

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

In 2023, countries that imported more from Thailand than Azerbaijan included United States ($58.5B), China ($44.1B), and Japan ($24.9B).

In 2023, countries that imported more from Azerbaijan than Thailand included Italy ($11.4B), Turkey ($5.85B), and Greece ($1.27B).

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

Comparative Advantage Thailand - Azerbaijan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Thailand had a large net trade with Azerbaijan in the exports of Machines ($35.3M), Transportation ($21.3M), and Plastics and Rubbers ($4.25M).

During 2018, Azerbaijan had a large net trade with Thailand in the exports of Mineral Products ($29.2M), Metals ($2.03M), and Textiles ($67.9k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Thailand Azerbaijan+$14.3MCars

Top Product Potential Azerbaijan Thailand+$176MCrude 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 Thailand and Azerbaijan. This means that a dot/product with the flag of Thailand indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Thailand.

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Historical Data

Bilateral Trade by Products

Exports from Thailand () to Azerbaijan () (2023)

Exports from Azerbaijan () to Thailand () (2023)

Latest Data

Trade between Thailand () and Azerbaijan ()

Thailand Exports

Azerbaijan Exports

Market Competitiveness

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

Comparative Advantage Thailand - Azerbaijan

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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