2023
Exports
$21MWorld Rnk 100 / 226
Flag Rnk 15 / 21
2023
PRODUCT COMPLEXITY IN Instruments
1.85Rnk 9 / 1025
2023
Imports
$401MWorld Rnk 82 / 226
Flag Rnk 11 / 21
2023
ECONOMIC COMPLEXITY of Azerbaijan
-0.43Rnk 84 / 132

About

Exports In 2023, Azerbaijan exported $21M in Instruments, making it the 100th largest exporter of Instruments in the world. At the same year, Instruments was the 15th most exported product in Azerbaijan. The main destination of Instruments exports from Azerbaijan are: Russia ($2.53M), United Kingdom ($1.93M), Kazakhstan ($1.73M), Netherlands ($1.64M), and Turkey ($1.52M).

The fastest growing export markets for Instruments of Azerbaijan between 2022 and 2023 were Russia ($1.55M), Netherlands ($1.16M), and Turkey ($873k).

Imports In 2023, Azerbaijan imported $401M in Instruments, becoming the 82nd largest importer of Instruments in the world. At the same year, Instruments was the 11th most imported product in Azerbaijan. Azerbaijan imports Instruments primarily from: China ($69.7M), Turkey ($68.3M), Germany ($42.5M), United States ($35.5M), and Switzerland ($20M).

The fastest growing import markets in Instruments for Azerbaijan between 2022 and 2023 were Turkey ($31.5M), Germany ($6.29M), and Switzerland ($5.74M).

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 Instruments. 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)$21M
IMPORTS (2023)$401M
NET TRADE (2023)-$380M

In 2023, Azerbaijan exported $21M in Instruments. The main destinations of Azerbaijan exports on Instruments were Russia ($2.53M), United Kingdom ($1.93M), Kazakhstan ($1.73M), Netherlands ($1.64M), and Turkey ($1.52M).

In 2023, Azerbaijan imported $401M in Instruments, mainly from China ($69.7M), Turkey ($68.3M), Germany ($42.5M), United States ($35.5M), and Switzerland ($20M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Instruments EXPORT MARKETS FOR Azerbaijan WERE (2022 - 2023):
Russia$1.55M (158%)
Netherlands$1.16M (243%)
Turkey$873k (135%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Instruments BY Azerbaijan WERE (2022 - 2023):
Iran-$1.79M (-99.8%)
Turkmenistan-$873k (-47.6%)
China-$559k (-94.6%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Azerbaijan's main exporting competitors in Instruments were:
In 2023, Azerbaijan's main importing competitors in Instruments were:

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Trade Value of Instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.69M
TOP IMPORT POTENTIALChina+ $29.8M

Instruments’s highest export potential is United States. With an export gap of $1.69M.   Instruments’s highest import potential is China with an import gap of $29.8M.

See methodology.

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