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Pricing

2023
Flag → Flag
Exports $445MRnk 85 / 219
2023
Flag → Flag
Top Product $40.1MGas Turbines
2023
Flag → Flag
Exports $11.4BRnk 1 / 137
2023
Flag → Flag
Top Product $6.55BCrude Petroleum
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.43Rnk 84 / 132
2023
Flag  
GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
 GDP$72.4BCURRENT US$
Rnk 83 / 195
2013-2023
Flag
GDP GROWTH-2.43%CURRENT US$
Rnk 173 / 195
2023
Flag
GDP PC $39,003CURRENT US$
Rnk 32 / 195
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 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

Italy-Azerbaijan Trade: In 2023, Italy exported $445M to Azerbaijan. The main products that Italy exported to Azerbaijan were Gas Turbines ($40.1M), Cars ($22.8M), and Packaged Medicaments ($16.8M). Over the past 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 5.17%, from $346M in 2018 to $445M in 2023.

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

Azerbaijan-Italy Trade: In 2023, Azerbaijan exported $11.4B to Italy. The main products that Azerbaijan exported to Italy were Crude Petroleum ($6.55B), Petroleum Gas ($4.81B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($24.3M). Over the past 5 years the exports of Azerbaijan to Italy have increased at an annualized rate of 11.8%,  from $6.55B in 2018 to $11.4B in 2023.

In 2008, Azerbaijan exported services to Italy worth $11.1M, with Transportation ($6.11M), Services not allocated ($4M), and Travel ($973k) being the largest in terms of value.

Comparison: In 2023,  Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B). That same year, Azerbaijan ranked 84 in the Economic Complexity Index (ECI -0.43), and 70 in total exports ($31.2B).

Latest Trends

October, 2024

About

Overview In October 2024, Italy exported €7.93M and imported €787M from Azerbaijan, resulting in a negative trade balance of €779M. Between October 2023 and October 2024 the exports of Italy have increased by €241k (3.14%) from €7.69M to €7.93M, while imports decreased by €-180M (-18.6%) from €967M to €787M.

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (October 2023 - October 2024)€241k(3.14%)
IMPORT GROWTH (October 2023 - October 2024)€-180M(-18.6%)

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

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

For full datasets download visit Bulk Download page.

Explore Azerbaijan and Italy Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Italy exported $445M to Azerbaijan. The main products exported from Italy to Azerbaijan were Gas Turbines ($40.1M), Cars ($22.8M), and Packaged Medicaments ($16.8M). During the last 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 5.17%, from $346M in 2018 to $445M in 2023.

In 2018, Azerbaijan exported $11.4B to Italy. The main products exported from Azerbaijan to Italy were Crude Petroleum ($6.55B), Petroleum Gas ($4.81B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($24.3M). During the last 5 years the exports of Azerbaijan to Italy have increased at an annualized rate of 11.8%, from $6.55B in 2023 to $11.4B in 2018.

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

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

Market Competitiveness

Color
Italy
Top DestinationGermany$71.4B
Azerbaijan
Top DestinationItaly$11.4B

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

In 2023, countries that imported more from Italy than Azerbaijan included United States ($70.9B), Germany ($71.4B), and France ($61.1B).

In 2023, countries that imported more from Azerbaijan than Italy included Georgia ($654M).

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

Comparative Advantage Italy - Azerbaijan

Flow
Scale

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

During 2023, Italy had a large net trade with Azerbaijan in the exports of Machines ($170M), Chemical Products ($53.9M), and Transportation ($42.5M).

During 2018, Azerbaijan had a large net trade with Italy in the exports of Mineral Products ($11.4B), Chemical Products ($32.7M), and Vegetable Products ($15M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Italy Azerbaijan+$16MCars
Top Product Potential Azerbaijan Italy+$19.8MRefined 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 Italy and Azerbaijan. This means that a dot/product with the flag of Italy indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Italy.

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

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