Hungary (HUN) and Azerbaijan (AZE) Trade | The Observatory of Economic Complexity

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In N/A, Hungary did not export any services to Azerbaijan.

Azerbaijan-Hungary Trade: In N/A, Azerbaijan exported $2.31M to Hungary. The main products that Azerbaijan exported to Hungary were Refined Petroleum ($1.6M), Broadcasting Equipment ($484k), and Cars ($51.5k). Over the past N/A years the exports of Azerbaijan to Hungary have increased at an annualized rate of 1.94%, from $2.1M in N/A to $2.31M in N/A.

In 2008, Azerbaijan exported services to Hungary worth $1k, with Communications services ($1k) being the largest in terms of value.

Comparison: In 2022, Hungary ranked 14 in the Economic Complexity Index (ECI 1.38), and 35 in total exports ($145B). That same year, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

Hungary does not register exports to Azerbaijan. The main products exported from Hungary to Azerbaijan were Packaged Medicaments ($23.1M), Flavored Water ($3.83M), and Dental Products ($2.56M).

In 2017, Azerbaijan exported $2.31M to Hungary. The main products exported from Azerbaijan to Hungary were Refined Petroleum ($1.6M), Broadcasting Equipment ($484k), and Cars ($51.5k). During the last 5 years the exports of Azerbaijan to Hungary have increased at an annualized rate of 1.94%, from $2.1M in 2022 to $2.31M in 2017.

Exports from Hungary () to Azerbaijan () (2022)

Exports from Azerbaijan () to Hungary () (2022)

Latest Data

Trade between Hungary () and Azerbaijan ()

Hungary Exports

Date

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hungary
Top DestinationGermany$35.5B

Azerbaijan
Top DestinationItaly$18.3B

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

In 2022, countries that imported more from Hungary than Azerbaijan included Germany ($35.5B), Romania ($7.94B), and Slovakia ($6.78B).

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

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

Comparative Advantage Hungary - Azerbaijan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2017, Azerbaijan had a large net trade with Hungary in the exports of Mineral Products ($1.6M), Machines ($568k), and Transportation ($52.9k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hungary Azerbaijan+$5.63MPackaged Medicaments

Top Product Potential Azerbaijan Hungary+$2.74MRefined 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 Hungary and Azerbaijan. This means that a dot/product with the flag of Hungary indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Hungary.

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Historical Data

Bilateral Trade by Products

Exports from Hungary () to Azerbaijan () (2022)

Exports from Azerbaijan () to Hungary () (2022)

Latest Data

Trade between Hungary () and Azerbaijan ()

Hungary Exports

Azerbaijan Exports

Market Competitiveness

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

Comparative Advantage Hungary - Azerbaijan

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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