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2023
Exports $207MWorld Rnk 90 / 167
Flag Rnk 6 / 841
2023
Destination $44.4M Switzerland
2022 - 2023
FASTEST GROWING MARKET $44.4MUnited Arab Emirates
2023
PRODUCT COMPLEXITY IN Gold-2.5Rnk 1019 / 1025
2023
Imports $5.6MWorld Rnk 99 / 174
Flag Rnk 395 / 1170
2023
Origin $70.4k Turkey
2022 - 2023
FASTEST GROWING ORIGIN $70.4kGermany
2023
ECONOMIC COMPLEXITY of Azerbaijan-0.43Rnk 84 / 132

About

Exports In 2023, Azerbaijan exported $207M in Gold, making it the 90th largest exporter of Gold in the world. At the same year, Gold was the 6th most exported product in Azerbaijan. The main destination of Gold exports from Azerbaijan are: Switzerland ($161M) and United Arab Emirates ($46.3M).

The fastest growing export markets for Gold of Azerbaijan between 2022 and 2023 were United Arab Emirates ($44.4M).

Imports In 2023, Azerbaijan imported $5.6M in Gold, becoming the 99th largest importer of Gold in the world. At the same year, Gold was the 395th most imported product in Azerbaijan. Azerbaijan imports Gold primarily from: Turkey ($5.34M), United Arab Emirates ($170k), Germany ($70.4k), and Italy ($25.3k).

The fastest growing import markets in Gold for Azerbaijan between 2022 and 2023 were Germany ($70.4k) and Italy ($25.3k).

Latest Trends

Dec 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Gold. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$207M
IMPORTS (2023)$5.6M
NET TRADE (2023)$201M

In 2023, Azerbaijan exported $207M in Gold. The main destinations of Azerbaijan exports on Gold were Switzerland ($161M) and United Arab Emirates ($46.3M).

In 2023, Azerbaijan imported $5.6M in Gold, mainly from Turkey ($5.34M), United Arab Emirates ($170k), Germany ($70.4k), and Italy ($25.3k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Gold EXPORT MARKETS FOR Azerbaijan WERE (2022 - 2023):United Arab Emirates$44.4M (2.27k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Gold BY Azerbaijan WERE (2022 - 2023):
Switzerland-$28.4M (-15%)
Turkey-$247k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Azerbaijan's main exporting competitors in Gold were:
Switzerland $109B
United Arab Emirates $46.8B
United Kingdom $33B
In 2023, Azerbaijan's main importing competitors in Gold were:
Switzerland $111B
China $87.8B
United Arab Emirates $75.2B

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Trade Value of Gold by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSwitzerland+ $26.9M
TOP IMPORT POTENTIALUnited Arab Emirates+ $2.42M

Gold’s highest export potential is Switzerland. With an export gap of $26.9M.   Gold’s highest import potential is United Arab Emirates with an import gap of $2.42M.

See methodology.

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