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Pricing

2022
Flag → Flag
Exports $69.7MRnk 66 / 209
2022
Flag → Flag
Top Product $36.8MOther Sea Vessels
2022
Flag → Flag
Exports $69.2MRnk 34 / 141
2022
Flag → Flag
Top Product $64.3MCrude Petroleum
2022
Flag
Economic Complexity (ECI) ECI 0.54Rnk 43 / 133
2022
Flag
Economic Complexity (ECI) ECI -0.44Rnk 83 / 133
2022
Flag  
GDP$579BCURRENT US$
Rnk 24 / 186
2012-2022
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GDP GROWTH13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
Flag
GDP GROWTH13%CURRENT US$
Rnk 140 / 186
2022
Flag
GDP PC $106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC$7,737CURRENT US$
Rnk 87 / 186
2012-2022
Flag
GDP PC GROWTH3.21%CURRENT US$
Rnk 134 / 186

About

Norway-Azerbaijan Trade: In 2022, Norway exported $69.7M to Azerbaijan. The main products that Norway exported to Azerbaijan were Other Sea Vessels ($36.8M), Excavation Machinery ($7.83M), and Other Iron Products ($4.76M). Over the past 5 years the exports of Norway to Azerbaijan have decreased at an annualized rate of 11.1%, from $126M in 2017 to $69.7M in 2022.

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

Azerbaijan-Norway Trade: In 2022, Azerbaijan exported $69.2M to Norway. The main products that Azerbaijan exported to Norway were Crude Petroleum ($64.3M), Packing Bags ($3.45M), and Engine Parts ($259k). Over the past 5 years the exports of Azerbaijan to Norway have increased at an annualized rate of 58.6%,  from $6.9M in 2017 to $69.2M in 2022.

In 2008, Azerbaijan exported services to Norway worth $680k, with Travel ($680k) being the largest in terms of value.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B).

Latest Trends

October, 2024

About

Overview In October 2024, Norway exported NOK21.2M and imported NOK3.06M from Azerbaijan, resulting in a positive trade balance of NOK18.1M. Between October 2023 and October 2024 the exports of Norway have decreased by NOK-3.19M (-13.1%) from NOK24.4M to NOK21.2M, while imports decreased by NOK-5.53M (-64.4%) from NOK8.59M to NOK3.06M.

Trade In October 2024, the top exports of Norway to Azerbaijan were Machinery specialized for particular industries (NOK19.9M), General industrial machinery and equipment, n.e.s.,... (NOK6.86M), Power-generating machinery and equipment (NOK4.8M), Manufactures of metals, n.e.s. (NOK2.8M), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK705k). In October 2024 the top imports of Norway from Azerbaijan were Textile yarn, fabrics, made-up articles, n.e.s.,... (NOK2.38M), Office machines and automatic data-processing machines (NOK101k), Professional, scientific and controlling instruments and... (NOK10k), Miscellaneous manufactured articles, n.e.s. (NOK1k), and Live animals other than animals of... (NOK0).

Growth In October 2024, the decrease in Norway's year-by-year exports to Azerbaijan was explained primarily by an decrease in product exports in Fish (not marine mammals), crustaceans, molluscs... (NOK-1.58M or -100%), Manufactures of metals, n.e.s. (NOK-729k or -20.6%), and Animal oils and fats (NOK-363k or -100%). In October 2024, the decrease in Norway's year-by-year imports  from Azerbaijan was explained primarily by an decrease in product imports  in Machinery specialized for particular industries (NOK-745k or -100%), Textile yarn, fabrics, made-up articles, n.e.s.,... (NOK-102k or -4.11%), and Crude animal and vegetable materials, n.e.s. (NOK-3k or -100%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (October 2023 - October 2024)NOK-3.19M(-13.1%)
IMPORT GROWTH (October 2023 - October 2024)NOK-5.53M(-64.4%)

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

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

For full datasets download visit Bulk Download page.

Explore Azerbaijan and Norway Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $69.7M to Azerbaijan. The main products exported from Norway to Azerbaijan were Other Sea Vessels ($36.8M), Excavation Machinery ($7.83M), and Other Iron Products ($4.76M). During the last 5 years the exports of Norway to Azerbaijan have decreased at an annualized rate of 11.1%, from $126M in 2017 to $69.7M in 2022.

In 2017, Azerbaijan exported $69.2M to Norway. The main products exported from Azerbaijan to Norway were Crude Petroleum ($64.3M), Packing Bags ($3.45M), and Engine Parts ($259k). During the last 5 years the exports of Azerbaijan to Norway have increased at an annualized rate of 58.6%, from $6.9M in 2022 to $69.2M in 2017.

Exports from Norway (Flag) to Azerbaijan (Flag) (2022)

Exports from Azerbaijan (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top DestinationGermany$78.1B
Azerbaijan
Top DestinationItaly$18.3B

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

In 2022, countries that imported more from Norway than Azerbaijan included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

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

Difference in imports from Azerbaijan (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - Azerbaijan

Flow
Scale

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

During 2022, Norway had a large net trade with Azerbaijan in the exports of Transportation ($37.5M), Machines ($17.2M), and Metals ($9.14M).

During 2017, Azerbaijan had a large net trade with Norway in the exports of Mineral Products ($64.3M), Textiles ($3.47M), and Machines ($1.17M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Azerbaijan+$661kPackaged Medicaments
Top Product Potential Azerbaijan Norway+$17.5MCrude 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 Norway and Azerbaijan. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Norway.

Product Space of Norway (Flag) and Azerbaijan (Flag) (2022)

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