Azerbaijan (AZE) and Austria (AUT) Trade | The Observatory of Economic Complexity

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Azerbaijan-Austria Trade: In 2023, Azerbaijan exported $160M to Austria. The main products that Azerbaijan exported to Austria were Crude Petroleum ($152M), Ethylene Polymers ($4.9M), and Hard Liquor ($1.45M). Over the past 5 years the exports of Azerbaijan to Austria have decreased at an annualized rate of 15.7%, from $375M in 2018 to $160M in 2023.

In 2008, Azerbaijan exported services to Austria worth $178k, with Transportation ($178k) being the largest in terms of value.

Austria-Azerbaijan Trade: In 2023, Austria exported $83.7M to Azerbaijan. The main products that Austria exported to Azerbaijan were Flavored Water ($9.68M), Packaged Medicaments ($6.98M), and Cigarette Paper ($5.92M). Over the past 5 years the exports of Austria to Azerbaijan have increased at an annualized rate of 3.07%, from $72M in 2018 to $83.7M in 2023.

In 2023, Austria 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, Austria ranked 8 in the Economic Complexity Index (ECI 1.56), and 31 in total exports ($204B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $160M to Austria. The main products exported from Azerbaijan to Austria were Crude Petroleum ($152M), Ethylene Polymers ($4.9M), and Hard Liquor ($1.45M). During the last 5 years the exports of Azerbaijan to Austria have decreased at an annualized rate of 15.7%, from $375M in 2018 to $160M in 2023.

In 2018, Austria exported $83.7M to Azerbaijan. The main products exported from Austria to Azerbaijan were Flavored Water ($9.68M), Packaged Medicaments ($6.98M), and Cigarette Paper ($5.92M). During the last 5 years the exports of Austria to Azerbaijan have increased at an annualized rate of 3.07%, from $72M in 2023 to $83.7M in 2018.

Exports from Azerbaijan () to Austria () (2023)

Exports from Austria () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Austria ()

Azerbaijan Exports

Date

Austria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Austria
Top DestinationGermany$51B

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

In 2023, countries that imported more from Azerbaijan than Austria included Turkey ($5.85B), Israel ($1.4B), and Georgia ($654M).

In 2023, countries that imported more from Austria than Azerbaijan included Germany ($51B), United States ($18.1B), and Switzerland ($10.9B).

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

Comparative Advantage Azerbaijan - Austria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Azerbaijan had a large net trade with Austria in the exports of Mineral Products ($152M), Plastics and Rubbers ($4.9M), and Foodstuffs ($1.47M).

During 2018, Austria had a large net trade with Azerbaijan in the exports of Machines ($23.6M), Chemical Products ($14.3M), and Foodstuffs ($12.7M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Austria+$48.9MCrude Petroleum

Top Product Potential Austria Azerbaijan+$6.91MPackaged Medicaments

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 Austria. This means that a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Austria. Similarly, a dot/product with the flag of Austria indicates it has a comparative advantage over Azerbaijan.

About

Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Austria () (2023)

Exports from Austria () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Austria ()

Azerbaijan Exports

Austria Exports

Market Competitiveness

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

Comparative Advantage Azerbaijan - Austria

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Azerbaijan () and Austria () (2023)

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