2022
Exports
$97.5MWorld Rnk 100 / 223
Flag Rnk 10 / 95
2022
PRODUCT COMPLEXITY IN Iron & steel
1.68Rnk 28 / 1025
2022
Imports
$378MWorld Rnk 98 / 225
Flag Rnk 9 / 96
2022
ECONOMIC COMPLEXITY of Azerbaijan
-0.44Rnk 83 / 133

About

Exports In 2022, Azerbaijan exported $97.5M in Iron & steel, making it the 100th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 10th most exported product in Azerbaijan. The main destination of Iron & steel exports from Azerbaijan are: Georgia ($51.1M), Turkey ($21.6M), Italy ($5.9M), Netherlands ($4.87M), and Estonia ($3.49M).

The fastest growing export markets for Iron & steel of Azerbaijan between 2021 and 2022 were Georgia ($16.8M), Italy ($4.36M), and Netherlands ($1.18M).

Imports In 2022, Azerbaijan imported $378M in Iron & steel, becoming the 98th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 9th most imported product in Azerbaijan. Azerbaijan imports Iron & steel primarily from: Russia ($176M), China ($46.2M), Turkey ($45.9M), Iran ($38.6M), and Kazakhstan ($24.8M).

The fastest growing import markets in Iron & steel for Azerbaijan between 2021 and 2022 were Russia ($66.2M), Iran ($17.1M), and Kazakhstan ($3.55M).

Latest Trends

Oct 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 & steel. 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 (2022)$97.5M
IMPORTS (2022)$378M
NET TRADE (2022)-$281M

In 2022, Azerbaijan exported $97.5M in Iron & steel. The main destinations of Azerbaijan exports on Iron & steel were Georgia ($51.1M), Turkey ($21.6M), Italy ($5.9M), Netherlands ($4.87M), and Estonia ($3.49M).

In 2022, Azerbaijan imported $378M in Iron & steel, mainly from Russia ($176M), China ($46.2M), Turkey ($45.9M), Iran ($38.6M), and Kazakhstan ($24.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Azerbaijan WERE (2021 - 2022):
Georgia$16.8M (49.1%)
Italy$4.36M (283%)
Netherlands$1.18M (31.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Azerbaijan WERE (2021 - 2022):
Turkey-$18.8M (-46.4%)
Austria-$2.36M (-87.3%)
Switzerland-$795k (-99.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Azerbaijan's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Azerbaijan's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALTurkey+ $12.3M
TOP IMPORT POTENTIALTurkey+ $18.9M

Iron & steel’s highest export potential is Turkey. With an export gap of $12.3M.   Iron & steel’s highest import potential is Turkey with an import gap of $18.9M.

See methodology.

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