Flag Azerbaijan

Econ Complexity (2018): -0.53, Rank 91 of 137

Product Exports (2018): $19.9B, Rank 73 of 222

Exports Per Capita (2018): $2k, Rank 81 of 219

Product Imports (2018): $11.9B, Rank 91 of 221

Imports Per Capita (2018): $1.2k, Rank 88 of 219

Service Exports (2018): $4.59B, Rank 44 of 88

Service Imports (2018): $6.7B, Rank 38 of 88

GDP (2018): $46.9B, CURRENT US$
Rank 89 of 196

GDP growth (2008 - 2018): -3.92%, CURRENT US$
Rank 177 of 196

GDP PC (2018): $4,721, CURRENT US$
Rank 111 of 196

GDP PC GROWTH (2008 - 2018): -15.3%, CURRENT US$
Rank 175 of 196

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.

Trade: The top exports of Azerbaijan are Crude Petroleum ($16.1B), Petroleum Gas ($1.52B), Refined Petroleum ($524M), Tomatoes ($177M), and Gold ($151M). The top imports of Azerbaijan are Gold ($1.29B), Cars ($437M), Iron Pipes ($388M), Petroleum Gas ($313M), and Gas Turbines ($282M).

Destinations: Azerbaijan exports mostly to Italy ($5.99B), Turkey ($1.85B), Israel ($1.31B), Czechia ($954M), and Germany ($820M), and imports mostly from Russia ($1.88B), Turkey ($1.55B), United Kingdom ($1.3B), China ($674M), and Germany ($603M).

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

Yearly Exports

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Top Export (2018): Crude Petroleum, $16.1B

Top Destination (2018): Italy, $5.99B

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.

The most recent exports are led by Crude Petroleum ($16.1B), Petroleum Gas ($1.52B), Refined Petroleum ($524M), Tomatoes ($177M), and Gold ($151M). The most common destination for the exports of Azerbaijan are Italy ($5.99B), Turkey ($1.85B), Israel ($1.31B), Czechia ($954M), and Germany ($820M).

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Yearly Imports

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Top Import (2018): Gold, $1.29B

Top Origin (2018): Russia, $1.88B

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.

The most recent imports of Azerbaijan are led by Gold ($1.29B), Cars ($437M), Iron Pipes ($388M), Petroleum Gas ($313M), and Gas Turbines ($282M). The most common import partners for Azerbaijan are Russia ($1.88B), Turkey ($1.55B), United Kingdom ($1.3B), China ($674M), and Germany ($603M).

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Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

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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.

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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.

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*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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Economic Complexity Ranking

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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.

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Most Specialized Products by RCA Index

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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.

Most Complex Products by PCI

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The highest complexity exports of Azerbaijan according to the product complexity index (PCI) are Copper nails, screws, bolts, pins, washers, etc (1.2), Petroleum resins, polyterpenes, polysulphides etc nes (1.12), Aluminium plates, sheets and strip, thickness > 0.2 mm (0.55), Copper bars, rods and profiles (0.26), and Tube or hollow profile, seamless iron/steel not cast (0.12). 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 (0.063), 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.

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.