2023
Exports
$55.8MWorld Rnk 86 / 226
Flag Rnk 16 / 96
2023
PRODUCT COMPLEXITY IN Iron or steel articles
1.67Rnk 25 / 1025
2023
Imports
$627MWorld Rnk 71 / 226
Flag Rnk 5 / 96
2023
ECONOMIC COMPLEXITY of Azerbaijan
-0.43Rnk 84 / 132

About

Exports In 2023, Azerbaijan exported $55.8M in Iron or steel articles, making it the 86th largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 16th most exported product in Azerbaijan. The main destination of Iron or steel articles exports from Azerbaijan are: Kazakhstan ($20.9M), Russia ($14.4M), Georgia ($4.41M), Latvia ($2.52M), and Italy ($1.97M).

The fastest growing export markets for Iron or steel articles of Azerbaijan between 2022 and 2023 were Kazakhstan ($11.4M), Latvia ($2.48M), and Georgia ($1.08M).

Imports In 2023, Azerbaijan imported $627M in Iron or steel articles, becoming the 71st largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 5th most imported product in Azerbaijan. Azerbaijan imports Iron or steel articles primarily from: Russia ($173M), Turkey ($119M), China ($98.6M), Japan ($45.4M), and United Kingdom ($31.3M).

The fastest growing import markets in Iron or steel articles for Azerbaijan between 2022 and 2023 were Russia ($37.6M), China ($23M), and Japan ($12.8M).

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 Iron or steel articles. 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)$55.8M
IMPORTS (2023)$627M
NET TRADE (2023)-$571M

In 2023, Azerbaijan exported $55.8M in Iron or steel articles. The main destinations of Azerbaijan exports on Iron or steel articles were Kazakhstan ($20.9M), Russia ($14.4M), Georgia ($4.41M), Latvia ($2.52M), and Italy ($1.97M).

In 2023, Azerbaijan imported $627M in Iron or steel articles, mainly from Russia ($173M), Turkey ($119M), China ($98.6M), Japan ($45.4M), and United Kingdom ($31.3M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Azerbaijan WERE (2022 - 2023):
Kazakhstan$11.4M (121%)
Latvia$2.48M (6.59k%)
Georgia$1.08M (32.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Azerbaijan WERE (2022 - 2023):
Russia-$4.43M (-23.5%)
Turkey-$2.16M (-57.7%)
Italy-$1.27M (-39.2%)

Change in Exports by Market (2022 - 2023)

Market Concentration

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Flow
Type
In 2023, Azerbaijan's main exporting competitors in Iron or steel articles were:
In 2023, Azerbaijan's main importing competitors in Iron or steel articles were:

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
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TOP EXPORT POTENTIALTurkey+ $4.19M
TOP IMPORT POTENTIALChina+ $49.8M

Iron or steel articles’s highest export potential is Turkey. With an export gap of $4.19M.   Iron or steel articles’s highest import potential is China with an import gap of $49.8M.

See methodology.

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