2023
Flag  
GDP
$485BCURRENT US$
Rnk 31 / 195
2013-2023
Flag
GDP GROWTH
-7.74%CURRENT US$
Rnk 180 / 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 
$87,925CURRENT US$
Rnk 7 / 195
2013-2023
Flag
GDP PC GROWTH
-15.1%CURRENT US$
Rnk 171 / 195
2023
Flag
GDP PC
$7,126CURRENT US$
Rnk 103 / 196
2013-2023
Flag
GDP PC GROWTH
-9.52%CURRENT US$
Rnk 168 / 195

About

Norway-Azerbaijan Trade: In 2023, Norway exported $34.4M to Azerbaijan. The main products that Norway exported to Azerbaijan were Excavation Machinery ($3.7M), Other Iron Products ($3.05M), and Liquid Pumps ($2.2M). Over the past 5 years the exports of Norway to Azerbaijan have decreased at an annualized rate of 21%, from $112M in 2018 to $34.4M in 2023.

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

Azerbaijan-Norway Trade: In 2023, Azerbaijan exported $8.17M to Norway. The main products that Azerbaijan exported to Norway were Packing Bags ($2.28M), Railway Cargo Containers ($1.38M), and Pulley Systems ($1.33M). Over the past 5 years the exports of Azerbaijan to Norway have increased at an annualized rate of 2.88%,  from $7.09M in 2018 to $8.17M in 2023.

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

Comparison: In 2023,  Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). 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
Value

In 2023, Norway exported $34.4M to Azerbaijan. The main products exported from Norway to Azerbaijan were Excavation Machinery ($3.7M), Other Iron Products ($3.05M), and Liquid Pumps ($2.2M). During the last 5 years the exports of Norway to Azerbaijan have decreased at an annualized rate of 21%, from $112M in 2018 to $34.4M in 2023.

In 2018, Azerbaijan exported $8.17M to Norway. The main products exported from Azerbaijan to Norway were Packing Bags ($2.28M), Railway Cargo Containers ($1.38M), and Pulley Systems ($1.33M). During the last 5 years the exports of Azerbaijan to Norway have increased at an annualized rate of 2.88%, from $7.09M in 2023 to $8.17M in 2018.

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

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

Market Competitiveness

Color
Norway
Top Destination
Germany$33.8B
Azerbaijan
Top Destination
Italy$11.4B

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 2023, countries that imported more from Norway than Azerbaijan included Germany ($33.8B), United Kingdom ($32.6B), and Sweden ($15.9B).

In 2023, countries that imported more from Azerbaijan than Norway included Italy ($11.4B), Turkey ($5.85B), and Israel ($1.4B).

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

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 2023, Norway had a large net trade with Azerbaijan in the exports of Machines ($18M), Metals ($4.73M), and Chemical Products ($3.05M).

During 2018, Azerbaijan had a large net trade with Norway in the exports of Machines ($3.14M), Textiles ($2.31M), and Transportation ($1.49M).

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) (2023)

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