Azerbaijan / Latvia

Azerbaijan-Latvia Trade: In 2023, Azerbaijan exported $38.6M to Latvia. The main products that Azerbaijan exported to Latvia were Petroleum Resins ($24.9M), Refined Petroleum ($6.26M), and Iron Radiators ($2.52M). Over the past 5 years the exports of Azerbaijan to Latvia have increased at an annualized rate of 71.2%, from $2.62M in 2018 to $38.6M in 2023.

In 2008, Azerbaijan exported services to Latvia worth $43.3M, with Services not allocated ($27M) and Transportation ($16.3M) being the largest in terms of value.

Latvia-Azerbaijan Trade: In 2023, Latvia exported $25.6M to Azerbaijan. The main products that Latvia exported to Azerbaijan were Fermented Milk Products ($5.86M), Packaged Medicaments ($3.81M), and Other Edible Preparations ($2.97M). Over the past 5 years the exports of Latvia to Azerbaijan have increased at an annualized rate of 0.43%,  from $23.9M in 2018 to $25.6M in 2023.

In 2023, Latvia 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, Latvia ranked 80 in total exports ($19.9B), and does not have data regarding Economic Complexity Index.