Colombia (COL) and Azerbaijan (AZE) Trade | The Observatory of Economic Complexity

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Colombia-Azerbaijan Trade: In 2023, Colombia exported $710k to Azerbaijan. The main products that Colombia exported to Azerbaijan were Cut Flowers ($161k), Coffee ($144k), and Packaged Medicaments ($130k). Over the past 5 years the exports of Colombia to Azerbaijan have increased at an annualized rate of 6.47%, from $519k in 2018 to $710k in 2023.

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

Azerbaijan-Colombia Trade: In 2023, Azerbaijan exported $270k to Colombia. The main products that Azerbaijan exported to Colombia were Refined Petroleum ($155k), Oscilloscopes ($88k), and Other Iron Products ($8.71k). Over the past 5 years the exports of Azerbaijan to Colombia have increased at an annualized rate of 20.7%, from $106k in 2018 to $270k in 2023.

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

Comparison: In 2023, Colombia ranked 51 in the Economic Complexity Index (ECI 0.23), and 54 in total exports ($54.8B). That same year, Azerbaijan ranked 84 in the Economic Complexity Index (ECI -0.43), and 70 in total exports ($31.2B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Colombia exported $710k to Azerbaijan. The main products exported from Colombia to Azerbaijan were Cut Flowers ($161k), Coffee ($144k), and Packaged Medicaments ($130k). During the last 5 years the exports of Colombia to Azerbaijan have increased at an annualized rate of 6.47%, from $519k in 2018 to $710k in 2023.

In 2018, Azerbaijan exported $270k to Colombia. The main products exported from Azerbaijan to Colombia were Refined Petroleum ($155k), Oscilloscopes ($88k), and Other Iron Products ($8.71k). During the last 5 years the exports of Azerbaijan to Colombia have increased at an annualized rate of 20.7%, from $106k in 2023 to $270k in 2018.

Exports from Colombia () to Azerbaijan () (2023)

Exports from Azerbaijan () to Colombia () (2023)

Latest Data

Trade between Colombia () and Azerbaijan ()

Colombia Exports

Date

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Colombia
Top DestinationUnited States$14.8B

Azerbaijan
Top DestinationItaly$11.4B

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

In 2023, countries that imported more from Colombia than Azerbaijan included United States ($14.8B), Panama ($4.66B), and China ($2.5B).

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

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

Comparative Advantage Colombia - Azerbaijan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Colombia had a large net trade with Azerbaijan in the exports of Vegetable Products ($322k), Chemical Products ($190k), and Foodstuffs ($77.1k).

During 2018, Azerbaijan had a large net trade with Colombia in the exports of Mineral Products ($155k), Instruments ($98.7k), and Metals ($8.96k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Colombia Azerbaijan+$460kPalm Oil

Top Product Potential Azerbaijan Colombia+$34.6kExcavation Machinery

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

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Historical Data

Bilateral Trade by Products

Exports from Colombia () to Azerbaijan () (2023)

Exports from Azerbaijan () to Colombia () (2023)

Latest Data

Trade between Colombia () and Azerbaijan ()

Colombia Exports

Azerbaijan Exports

Market Competitiveness

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

Comparative Advantage Colombia - Azerbaijan

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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