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Pricing

2022
Flag → Flag
Exports $11.6kRnk 120 / 141
2022
Flag → Flag
Top Product $11.4kRefined Petroleum
2022
Flag → Flag
Exports $1.34MRnk 66 / 160
2022
Flag → Flag
Top Product $619kNon-fillet Frozen Fish
2022
Flag
Economic Complexity (ECI) ECI -0.44Rnk 83 / 133
2022
Flag  
GDP$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 140 / 186
2022
Flag
 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC $7,737CURRENT US$
Rnk 87 / 186
2012-2022
Flag
GDP PC GROWTH3.21%CURRENT US$
Rnk 134 / 186
2022
Flag
GDP PC$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Azerbaijan-Iceland Trade: In 2022, Azerbaijan exported $11.6k to Iceland. The main products that Azerbaijan exported to Iceland were Refined Petroleum ($11.4k) and Other Nuts ($239). Over the past 5 years the exports of Azerbaijan to Iceland have decreased at an annualized rate of 16.2%, from $28.1k in 2017 to $11.6k in 2022.

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

Iceland-Azerbaijan Trade: In 2022, Iceland exported $1.34M to Azerbaijan. The main products that Iceland exported to Azerbaijan were Non-fillet Frozen Fish ($619k), Fish Fillets ($350k), and Orthopedic Appliances ($271k). Over the past 5 years the exports of Iceland to Azerbaijan have decreased at an annualized rate of 9.44%,  from $2.43M in 2017 to $1.34M in 2022.

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

Comparison In 2022,  Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44),  and 65 in total exports ($38.9B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Azerbaijan exported $11.6k to Iceland. The main products exported from Azerbaijan to Iceland were Refined Petroleum ($11.4k) and Other Nuts ($239). During the last 5 years the exports of Azerbaijan to Iceland have decreased at an annualized rate of 16.2%, from $28.1k in 2017 to $11.6k in 2022.

In 2017, Iceland exported $1.34M to Azerbaijan. The main products exported from Iceland to Azerbaijan were Non-fillet Frozen Fish ($619k), Fish Fillets ($350k), and Orthopedic Appliances ($271k). During the last 5 years the exports of Iceland to Azerbaijan have decreased at an annualized rate of 9.44%, from $2.43M in 2022 to $1.34M in 2017.

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

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

Latest Data

Trade between Azerbaijan (Flag) and Iceland (Flag)

Azerbaijan Exports

Iceland Exports

Market Competitiveness

Color
Azerbaijan
Top DestinationItaly$18.3B
Iceland
Top DestinationNetherlands$1.97B

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

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

In 2022, countries that imported more from Iceland than Azerbaijan included Netherlands ($1.97B), United States ($613M), and Norway ($459M).

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

Comparative Advantage Azerbaijan - Iceland

Flow
Scale

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

During 2022, Azerbaijan had a large net trade with Iceland in the exports of Mineral Products ($11.4k) and Vegetable Products ($239).

During 2017, Iceland had a large net trade with Azerbaijan in the exports of Animal Products ($970k), Instruments ($272k), and Foodstuffs ($88.6k).

Economic Complexity

Competitive Landscape

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

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

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