Azerbaijan (AZE) and Singapore (SGP) Trade | The Observatory of Economic Complexity

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Azerbaijan-Singapore Trade: In 2023, Azerbaijan exported $97.9M to Singapore. The main products that Azerbaijan exported to Singapore were Crude Petroleum ($84.1M), Refined Petroleum ($6.54M), and Copper Bars ($1.95M). Over the past 5 years the exports of Azerbaijan to Singapore have increased at an annualized rate of 64%, from $8.24M in 2018 to $97.9M in 2023.

In 2023, Azerbaijan did not export any services to Singapore.

Singapore-Azerbaijan Trade: In 2023, Singapore exported $43.3M to Azerbaijan. The main products that Singapore exported to Azerbaijan were Gas Turbines ($11.2M), Machinery Having Individual Functions ($6.22M), and Other Large Iron Pipes ($4.2M). Over the past 5 years the exports of Singapore to Azerbaijan have increased at an annualized rate of 10.3%, from $26.5M in 2018 to $43.3M in 2023.

In 2023, Singapore 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, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $97.9M to Singapore. The main products exported from Azerbaijan to Singapore were Crude Petroleum ($84.1M), Refined Petroleum ($6.54M), and Copper Bars ($1.95M). During the last 5 years the exports of Azerbaijan to Singapore have increased at an annualized rate of 64%, from $8.24M in 2018 to $97.9M in 2023.

In 2018, Singapore exported $43.3M to Azerbaijan. The main products exported from Singapore to Azerbaijan were Gas Turbines ($11.2M), Machinery Having Individual Functions ($6.22M), and Other Large Iron Pipes ($4.2M). During the last 5 years the exports of Singapore to Azerbaijan have increased at an annualized rate of 10.3%, from $26.5M in 2023 to $43.3M in 2018.

Exports from Azerbaijan () to Singapore () (2023)

Exports from Singapore () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Singapore ()

Azerbaijan Exports

Date

Singapore Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Singapore
Top DestinationHong Kong$44.5B

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

In 2023, countries that imported more from Azerbaijan than Singapore included Italy ($11.4B), Turkey ($5.85B), and Greece ($1.27B).

In 2023, countries that imported more from Singapore than Azerbaijan included Hong Kong ($44.5B), China ($36.7B), and United States ($32.9B).

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

Comparative Advantage Azerbaijan - Singapore

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Azerbaijan had a large net trade with Singapore in the exports of Mineral Products ($90.6M), Metals ($3.89M), and Machines ($2.83M).

During 2018, Singapore had a large net trade with Azerbaijan in the exports of Machines ($27.5M), Metals ($6.77M), and Instruments ($4.52M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Singapore+$1.16MGas Turbines

Top Product Potential Singapore Azerbaijan+$2.81MRefined Petroleum

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

About

Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Singapore () (2023)

Exports from Singapore () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Singapore ()

Azerbaijan Exports

Singapore Exports

Market Competitiveness

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

Comparative Advantage Azerbaijan - Singapore

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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