Vietnam (VNM) and Azerbaijan (AZE) Trade | The Observatory of Economic Complexity

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Vietnam-Azerbaijan Trade: In 2023, Vietnam exported $136M to Azerbaijan. The main products that Vietnam exported to Azerbaijan were Broadcasting Equipment ($70.3M), Video Displays ($25M), and Machinery Having Individual Functions ($5.13M). Over the past 5 years the exports of Vietnam to Azerbaijan have increased at an annualized rate of 17.9%, from $59.8M in 2018 to $136M in 2023.

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

Azerbaijan-Vietnam Trade: In 2023, Azerbaijan exported $346M to Vietnam. The main products that Azerbaijan exported to Vietnam were Crude Petroleum ($345M), Animal Organs ($136k), and Chocolate ($53.6k). Over the past 5 years the exports of Azerbaijan to Vietnam have increased at an annualized rate of 35.3%, from $76.2M in 2018 to $346M in 2023.

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

Comparison: In 2023, Vietnam ranked 60 in the Economic Complexity Index (ECI 0.067), and 15 in total exports ($424B). 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, Vietnam exported $136M to Azerbaijan. The main products exported from Vietnam to Azerbaijan were Broadcasting Equipment ($70.3M), Video Displays ($25M), and Machinery Having Individual Functions ($5.13M). During the last 5 years the exports of Vietnam to Azerbaijan have increased at an annualized rate of 17.9%, from $59.8M in 2018 to $136M in 2023.

In 2018, Azerbaijan exported $346M to Vietnam. The main products exported from Azerbaijan to Vietnam were Crude Petroleum ($345M), Animal Organs ($136k), and Chocolate ($53.6k). During the last 5 years the exports of Azerbaijan to Vietnam have increased at an annualized rate of 35.3%, from $76.2M in 2023 to $346M in 2018.

Exports from Vietnam () to Azerbaijan () (2023)

Exports from Azerbaijan () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Azerbaijan ()

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Vietnam
Top DestinationUnited States$118B

Azerbaijan
Top DestinationItaly$11.4B

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

In 2023, countries that imported more from Vietnam than Azerbaijan included United States ($118B), China ($85.7B), and Japan ($25.1B).

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

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

Comparative Advantage Vietnam - Azerbaijan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Vietnam had a large net trade with Azerbaijan in the exports of Machines ($115M), Textiles ($5.07M), and Vegetable Products ($4.61M).

During 2018, Azerbaijan had a large net trade with Vietnam in the exports of Mineral Products ($345M), Animal Products ($136k), and Vegetable Products ($68.7k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Vietnam Azerbaijan+$29.1MTelephones

Top Product Potential Azerbaijan Vietnam+$35.9MCrude 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 Vietnam and Azerbaijan. This means that a dot/product with the flag of Vietnam indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Vietnam.

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Historical Data

Bilateral Trade by Products

Exports from Vietnam () to Azerbaijan () (2023)

Exports from Azerbaijan () to Vietnam () (2023)

Latest Data

Trade between Vietnam () and Azerbaijan ()

Azerbaijan Exports

Market Competitiveness

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

Comparative Advantage Vietnam - Azerbaijan

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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