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2023
Flag → Flag
Exports $98.1MRnk 113 / 220
2023
Flag → Flag
Top Product $16.5MTug Boats
2023
Flag → Flag
Exports $902MRnk 8 / 137
2023
Flag → Flag
Top Product $878MCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
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Economic Complexity (ECI) ECI -0.43Rnk 84 / 132
2023
Flag  
GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
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GDP GROWTH18.9%CURRENT US$
Rnk 143 / 195
2023
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 GDP$72.4BCURRENT US$
Rnk 83 / 195
2013-2023
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GDP GROWTH-2.43%CURRENT US$
Rnk 173 / 195
2023
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GDP PC $33,509CURRENT US$
Rnk 40 / 195
2013-2023
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GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195
2023
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GDP PC$7,126CURRENT US$
Rnk 103 / 196
2013-2023
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GDP PC GROWTH-9.52%CURRENT US$
Rnk 168 / 195

About

Spain-Azerbaijan Trade: In 2023, Spain exported $98.1M to Azerbaijan. The main products that Spain exported to Azerbaijan were Tug Boats ($16.5M), Packaged Medicaments ($11.8M), and Unglazed Ceramics ($6.45M). Over the past 5 years the exports of Spain to Azerbaijan have increased at an annualized rate of 2.44%, from $86.9M in 2018 to $98.1M in 2023.

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

Azerbaijan-Spain Trade: In 2023, Azerbaijan exported $902M to Spain. The main products that Azerbaijan exported to Spain were Crude Petroleum ($878M), Nitrogenous Fertilizers ($7.31M), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($5.84M). Over the past 5 years the exports of Azerbaijan to Spain have increased at an annualized rate of 8.15%,  from $563M in 2018 to $902M in 2023.

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

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). That same year, Azerbaijan ranked 84 in the Economic Complexity Index (ECI -0.43), and 70 in total exports ($31.2B).

Latest Trends

November, 2024

About

Overview In November 2024, Spain exported €2.41M and imported €1.3M from Azerbaijan, resulting in a positive trade balance of €1.11M. Between November 2023 and November 2024 the exports of Spain have decreased by €-2.03M (-45.7%) from €4.44M to €2.41M, while imports decreased by €-59.6M (-97.9%) from €60.9M to €1.3M.

Trade In November 2024, the top exports of Spain to Azerbaijan were Unglazed Ceramics (€494k), Navigation Equipment (€339k), Cars (€220k), Non-Knit Women's Suits (€192k), and Mixed Mineral or Chemical Fertilizers (€140k). In November 2024 the top imports of Spain from Azerbaijan were Crude Petroleum (€154M), Other Nuts (€593k), Refined Petroleum (€21.8k), Commodities not elsewhere specified (€9.25k), and Other Meat (€2.62k).

Origins In November 2024 the exports of Spain were mainly from Barcelona (€699k), Pontevedra (€237k), Vizcaya (€211k), Madrid (€207k), and A Coruña (€151k), while imports destinations were mainly Valencia (€731k), Pontevedra (€507k), Barcelona (€64.2k), and Baleares (€240).

Growth In November 2024, the decrease in Spain's year-by-year exports to Azerbaijan was explained primarily by an decrease in product exports in Other Processed Vegetables (€-71.9k or -71.1%), Electrical Transformers (€-31k or -96.6%), and Insulated Wire (€-29.7k or -99.6%). In November 2024, the decrease in Spain's year-by-year imports  from Azerbaijan was explained primarily by an decrease in product imports  in Other Nuts (€-31.2k or -5%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (November 2023 - November 2024)€-2.03M(-45.7%)
IMPORT GROWTH (November 2023 - November 2024)€-59.6M(-97.9%)
MAIN EXPORTER (November 2024)Barcelona€699k

This section shows exports and imports data at subnational level for Spain. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Spain over time.

To check Azerbaijan and Spain trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Azerbaijan and Spain Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $98.1M to Azerbaijan. The main products exported from Spain to Azerbaijan were Tug Boats ($16.5M), Packaged Medicaments ($11.8M), and Unglazed Ceramics ($6.45M). During the last 5 years the exports of Spain to Azerbaijan have increased at an annualized rate of 2.44%, from $86.9M in 2018 to $98.1M in 2023.

In 2018, Azerbaijan exported $902M to Spain. The main products exported from Azerbaijan to Spain were Crude Petroleum ($878M), Nitrogenous Fertilizers ($7.31M), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($5.84M). During the last 5 years the exports of Azerbaijan to Spain have increased at an annualized rate of 8.15%, from $563M in 2023 to $902M in 2018.

Exports from Spain (Flag) to Azerbaijan (Flag) (2023)

Exports from Azerbaijan (Flag) to Spain (Flag) (2023)

Market Competitiveness

Color
Spain
Top DestinationFrance$61.9B
Azerbaijan
Top DestinationItaly$11.4B

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

In 2023, countries that imported more from Spain than Azerbaijan included France ($61.9B), Germany ($40.2B), and Portugal ($38.1B).

In 2023, countries that imported more from Azerbaijan than Spain included Georgia ($654M), Russia ($1.2B), and Turkmenistan ($86.1M).

Difference in imports from Azerbaijan (Flag) and Spain (Flag) (2023)

Comparative Advantage Spain - Azerbaijan

Flow
Scale

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

During 2023, Spain had a large net trade with Azerbaijan in the exports of Chemical Products ($21.6M), Transportation ($21.6M), and Machines ($17.4M).

During 2018, Azerbaijan had a large net trade with Spain in the exports of Mineral Products ($878M), Chemical Products ($13.2M), and Foodstuffs ($2.59M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Azerbaijan+$9.91MPackaged Medicaments
Top Product Potential Azerbaijan Spain+$209MCrude 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

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

Product Space of Spain (Flag) and Azerbaijan (Flag) (2023)

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