Azerbaijan (AZE) and Armenia (ARM) Trade | The Observatory of Economic Complexity

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Azerbaijan-Armenia Trade: In 2021, 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 19.9%, from $2.19M in 2016 to $722k in 2021.

In 2021, Azerbaijan did not export any services to Armenia.

Armenia-Azerbaijan Trade: In 2021, Armenia exported $1.26M to Azerbaijan. The main products that Armenia exported to Azerbaijan were N/A. Over the past 5 years the exports of Armenia to Azerbaijan have decreased at an annualized rate of 20.3%, from $3.94M in 2016 to $1.26M in 2021.

In 2021, Armenia did not export any services to Azerbaijan.

Comparison: In 2023, Azerbaijan ranked 84 in the Economic Complexity Index (ECI -0.43), and 70 in total exports ($31.2B). That same year, Armenia ranked 57 in the Economic Complexity Index (ECI 0.094), and 107 in total exports ($9.02B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2021, Azerbaijan exported $722k to Armenia. There were not main exports from Azerbaijan to Armenia in 2021. During the last 5 years the exports of Azerbaijan to Armenia have decreased at an annualized rate of 19.9%, from $2.19M in 2016 to $722k in 2021.

In 2017, Armenia exported $1.26M to Azerbaijan. There were not main exports from Armenia to Azerbaijan in 2017. During the last 5 years the exports of Armenia to Azerbaijan have decreased at an annualized rate of 20.3%, from $3.94M in 2022 to $1.26M in 2017.

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

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

Latest Data

Trade between Azerbaijan () and Armenia ()

Armenia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Armenia
Top DestinationRussia$3.38B

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

In 2023, countries that imported more from Azerbaijan than Armenia included Italy ($11.4B), Turkey ($5.85B), and Israel ($1.4B).

In 2023, countries that imported more from Armenia than Azerbaijan included Russia ($3.38B), United Arab Emirates ($2.25B), and Hong Kong ($669M).

Difference in imports from Armenia () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Armenia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2021, Azerbaijan had a large net trade with Armenia in the exports of .

During 2017, Armenia had a large net trade with Azerbaijan in the exports of .

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Armenia+$7.17kPetroleum Gas

Top Product Potential Armenia Azerbaijan+$103kElectricity

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

Year

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

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Historical Data

Bilateral Trade by Products

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

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

Latest Data

Trade between Azerbaijan () and Armenia ()

Armenia Exports

Market Competitiveness

Difference in imports from Armenia () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Armenia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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