Overview: This page contains the latest international trade data for Azerbaijan, including service trade data, and tariffs. In 2018 Azerbaijan was the number 89 economy in the world in terms of GDP (current US$), the number 73 in total exports, the number 91 in total imports, and the number 91 most complex economy according to the Economic Complexity Index (ECI). In 2018, Azerbaijan exported $19.9B and imported $11.9B, resulting in a positive trade balance of $8.01B. In 2018, Azerbaijan's exports per capita were $2k and its imports per capita were $1.2k.
In 2018 Azerbaijan exported a total of $19.9B, making it the number 73 exporter in the world. During the last five reported years the exports of Azerbaijan have changed by -$9.04B from $29B in 2013 to $19.9B in 2018.
In 2018 Azerbaijan imported $11.9B, making it the number 91 trade destination in the world. During the last five reported years the imports of Azerbaijan changed by -$3.33B from $15.2B in 2013 to $11.9B in 2018.
In 2018, Azerbaijan exported $4.59B worth of services. The top services exported by Azerbaijan in 2018 were Personal travel ($2.04B), Transportation ($1.22B), Business travel ($597M), Other business services ($528M), and Computer and information services ($79M).
The top services imported by Azerbaijan in 2018 were Personal travel ($1.98B), Transportation ($1.52B), Construction services ($1.33B), Other business services ($1.16B), and Business travel ($299M).
This section shows forecasts for total product exports and imports for Azerbaijan. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.
*The tariffs applied to imports for Azerbaijan are:136: Most Favoured Nation duty rate treatement190: Preferential tariff for Commonwealth of Independent States (CIS) countries
During the last 18 years Azerbaijan's economy has become relatively less complex, moving from the 37th to the 91st position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Azerbaijan has a high level of specialization in Tomatoes (17.7), Crude Petroleum (13.8), Copper Fasteners (13.5), Other Fruits (7.71), and Pitted Fruits (7.31). Specialization is measured using RCA, an index that takes the ratio between Azerbaijan observed and expected exports in each product.
The top export opportunities for Azerbaijan according to the relatedness index, are Gold (0.063), Insect Resins (0.062), Chromium Ore (0.061), Other Oily Seeds (0.059), and Dried Legumes (0.058). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Azerbaijan is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities.
Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Azerbaijan
