Azerbaijan (AZE) and Venezuela (VEN) Trade | The Observatory of Economic Complexity

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Azerbaijan-Venezuela Trade: In 2022, Azerbaijan exported $23.7k to Venezuela. The main products that Azerbaijan exported to Venezuela were Refined Petroleum ($23.7k). Over the past 8 years the exports of Azerbaijan to Venezuela have increased at an annualized rate of 19.1%, from $5.85k in 2014 to $23.7k in 2022.

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

Venezuela-Azerbaijan Trade: In 2022, Venezuela exported $104 to Azerbaijan. The main products that Venezuela exported to Azerbaijan were N/A. Over the past 8 years the exports of Venezuela to Azerbaijan have decreased at an annualized rate of 72.8%, from $956k in 2014 to $104 in 2022.

In 2022, Venezuela 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, Venezuela ranked 107 in the Economic Complexity Index (ECI -0.87), and 132 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Azerbaijan exported $23.7k to Venezuela. The main products exported from Azerbaijan to Venezuela were Refined Petroleum ($23.7k). During the last 8 years the exports of Azerbaijan to Venezuela have increased at an annualized rate of 19.1%, from $5.85k in 2014 to $23.7k in 2022.

In 2017, Venezuela exported $104 to Azerbaijan. There were not main exports from Venezuela to Azerbaijan in 2017. During the last 5 years the exports of Venezuela to Azerbaijan have decreased at an annualized rate of 72.8%, from $956k in 2022 to $104 in 2017.

Exports from Azerbaijan () to Venezuela () (2022)

Exports from Venezuela () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Venezuela ()

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$18.3B

Venezuela
Top DestinationChina$703M

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

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

In 2022, countries that imported more from Venezuela than Azerbaijan included China ($703M), Brazil ($361M), and United States ($438M).

Difference in imports from Venezuela () and Azerbaijan () (2022)

Comparative Advantage Azerbaijan - Venezuela

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Azerbaijan had a large net trade with Venezuela in the exports of Mineral Products ($23.7k).

During 2017, Venezuela had a large net trade with Azerbaijan in the exports of Foodstuffs ($104).

Potential Exports

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

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Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Venezuela () (2022)

Exports from Venezuela () to Azerbaijan () (2022)

Latest Data

Trade between Azerbaijan () and Venezuela ()

Azerbaijan Exports

Market Competitiveness

Difference in imports from Venezuela () and Azerbaijan () (2022)

Comparative Advantage Azerbaijan - Venezuela

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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