Overview In 2020 Azerbaijan was the number 89 economy in the world in terms of GDP (current US$), the number 78 in total exports, the number 95 in total imports,
the number 113 economy in terms of GDP per capita (current US$) and the number 83 most complex economy according to the Economic Complexity Index (ECI).
In 2020, Azerbaijan exported a total of $13.8B, making it the number 78 exporter in the world. During the last five reported years the exports of Azerbaijan have changed by $641M from $13.2B in 2015 to $13.8B in 2020.
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).
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 a country currently specializes in.
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.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities.
Relatedness is 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 greenhouse emissions.
During the last 19 years Azerbaijan's economy has become relatively less complex, moving from the 44th to the 83rd 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.