2022
Flag  
GDP
$19.5BCURRENT US$
Rnk 117 / 186
2012-2022
Flag
GDP GROWTH
83.7%CURRENT US$
Rnk 25 / 186
2022
Flag
 GDP
$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 140 / 186
2022
Flag
GDP PC 
$7,014CURRENT US$
Rnk 91 / 186
2012-2022
Flag
GDP PC GROWTH
92.5%CURRENT US$
Rnk 10 / 186
2022
Flag
GDP PC
$7,737CURRENT US$
Rnk 87 / 186
2012-2022
Flag
GDP PC GROWTH
3.21%CURRENT US$
Rnk 134 / 186

About

Armenia-Azerbaijan Trade: In 2022, Armenia exported $1.27M to Azerbaijan. The main products that Armenia exported to Azerbaijan were Electricity ($1.27M). Over the past 5 years the exports of Armenia to Azerbaijan have decreased at an annualized rate of 20.3%, from $3.94M in 2017 to $1.27M in 2022.

In 2022, Armenia did not export any services to Azerbaijan.

Azerbaijan-Armenia Trade: In 2022, Azerbaijan exported $722k to Armenia. The main products that Azerbaijan exported to Armenia were N/A. Over the past 5 years the exports of Azerbaijan to Armenia have decreased at an annualized rate of 12.9%,  from $2.19M in 2017 to $722k in 2022.

In 2022, Azerbaijan did not export any services to Armenia.

Comparison: In 2022,  Armenia ranked 66 in the Economic Complexity Index (ECI 0.00081), and 122 in total exports ($5.78B). That same year, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Armenia exported $1.27M to Azerbaijan. The main products exported from Armenia to Azerbaijan were Electricity ($1.27M). During the last 5 years the exports of Armenia to Azerbaijan have decreased at an annualized rate of 20.3%, from $3.94M in 2017 to $1.27M in 2022.

In 2016, Azerbaijan exported $722k to Armenia. There were not main exports from Azerbaijan to Armenia in 2016. During the last 5 years the exports of Azerbaijan to Armenia have decreased at an annualized rate of 12.9%, from $2.19M in 2021 to $722k in 2016.

Exports from Armenia (Flag) to Azerbaijan (Flag) (2022)

Exports from Azerbaijan (Flag) to Armenia (Flag) (2022)

Latest Data

Trade between Armenia (Flag) and Azerbaijan (Flag)

Armenia Exports

Market Competitiveness

Color
Armenia
Top Destination
Russia$2.36B
Azerbaijan
Top Destination
Italy$18.3B

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

In 2022, countries that imported more from Armenia than Azerbaijan included Russia ($2.36B), United Arab Emirates ($535M), and Iraq ($250M).

In 2022, countries that imported more from Azerbaijan than Armenia included Italy ($18.3B), Turkey ($3.57B), and Israel ($1.68B).

Difference in imports from Azerbaijan (Flag) and Armenia (Flag) (2022)

Comparative Advantage Armenia - Azerbaijan

Flow
Scale

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

During 2022, Armenia had a large net trade with Azerbaijan in the exports of Mineral Products ($1.27M).

During 2016, Azerbaijan had a large net trade with Armenia in the exports of .

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Armenia Azerbaijan+$103kElectricity
Top Product Potential Azerbaijan Armenia+$7.17kPetroleum Gas

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

This visualization shows the product space at the HS4 level with the flags of Armenia and Azerbaijan. This means that a dot/product with the flag of Armenia indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Armenia.

Product Space of Armenia (Flag) and Azerbaijan (Flag) (2022)

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