Overview In 2019 Azerbaijan was the number 89 economy in the world in terms of GDP (current US$), the number 74 in total exports, the number 88 in total imports, the number 107 economy in terms of GDP per capita (current US$) and the number 90 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Azerbaijan are Crude Petroleum ($14.8B), Petroleum Gas ($2.37B), Refined Petroleum ($440M), Tomatoes ($189M), and Gold ($179M), exporting mostly to Italy ($5.53B), Turkey ($2.88B), Israel ($1.33B), Germany ($958M), and India ($946M).

Imports The top imports of Azerbaijan are Gold ($2.86B), Cars ($545M), Refined Petroleum ($358M), Wheat ($311M), and Packaged Medicaments ($236M), importing mostly from United Kingdom ($2.48B), Russia ($2.38B), Turkey ($1.76B), China ($820M), and Germany ($551M).

Location Azerbaijan borders Armenia, Georgia, Iran, Russia, and Turkey by land and Turkmenistan by sea.

Historical Data

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Yearly Exports

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Top Export (2019): Crude Petroleum, $14.8B

Top Destination (2019): Italy, $5.53B

In 2019, Azerbaijan exported a total of $19.8B, making it the number 74 exporter in the world. During the last five reported years the exports of Azerbaijan have changed by -$3B from $22.8B in 2014 to $19.8B in 2019.

The most recent exports are led by Crude Petroleum ($14.8B), Petroleum Gas ($2.37B), Refined Petroleum ($440M), Tomatoes ($189M), and Gold ($179M). The most common destination for the exports of Azerbaijan are Italy ($5.53B), Turkey ($2.88B), Israel ($1.33B), Germany ($958M), and India ($946M).

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Yearly Imports

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Top Import (2019): Gold, $2.86B

Top Origin (2019): United Kingdom, $2.48B

In 2019 Azerbaijan imported $14.2B, making it the number 88 trade destination in the world. During the last five reported years the imports of Azerbaijan changed by -$945M from $15.2B in 2014 to $14.2B in 2019.

The most recent imports of Azerbaijan are led by Gold ($2.86B), Cars ($545M), Refined Petroleum ($358M), Wheat ($311M), and Packaged Medicaments ($236M). The most common import partners for Azerbaijan are United Kingdom ($2.48B), Russia ($2.38B), Turkey ($1.76B), China ($820M), and Germany ($551M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Azerbaijan Exports Services (2018): $4.59B

Azerbaijan Imports Services (2018): $6.7B

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).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Azerbaijan are Abrasive powder or grain on a base of other material (15%) and Abrasive powder, grain on paper or paperboard support (15%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Azerbaijan are:
136: Most Favoured Nation duty rate treatement
190: Preferential tariff for Commonwealth of Independent States (CIS) countries

Economic Complexity

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Most Specialized Products by RCA Index

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Azerbaijan has a high level of specialization in Tomatoes (19.1), Crude Petroleum (13.8), Copper Fasteners (9.09), Raw Cotton (7.35), and Petroleum Gas (7.24). Specialization is measured using RCA, an index that takes the ratio between Azerbaijan observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Azerbaijan according to the product complexity index (PCI) are Stainless steel in primary forms, semi-finish products (1.24), Copper nails, screws, bolts, pins, washers, etc (1.18), Petroleum resins, polyterpenes, polysulphides etc nes (1.04), Artificial, graphite and preparations (0.94), and Aluminium plates, sheets and strip, thickness > 0.2 mm (0.59). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Azerbaijan according to the relatedness index, are Gold (0.074), Sulphur (0.07), Insect Resins (0.066), Other Oily Seeds (0.065), and Tropical Fruits (0.063). 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.

Relatedness Space

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This network shows the products most related to the production structure of Azerbaijan. These are products that tend to be co-exported with the products that Azerbaijan exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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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.

Economic Complexity Ranking

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Scale

During the last 19 years Azerbaijan's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨40th to the 90th⁩ 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.

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