Azerbaijan (AZE) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Azerbaijan-Italy Trade: In 2023, Azerbaijan exported $11.4B to Italy. The main products that Azerbaijan exported to Italy were Crude Petroleum ($6.55B), Petroleum Gas ($4.81B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($24.3M). Over the past 5 years the exports of Azerbaijan to Italy have increased at an annualized rate of 11.8%, from $6.55B in 2018 to $11.4B in 2023.

In 2008, Azerbaijan exported services to Italy worth $11.1M, with Transportation ($6.11M), Services not allocated ($4M), and Travel ($973k) being the largest in terms of value.

Italy-Azerbaijan Trade: In 2023, Italy exported $445M to Azerbaijan. The main products that Italy exported to Azerbaijan were Gas Turbines ($40.1M), Cars ($22.8M), and Packaged Medicaments ($16.8M). Over the past 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 5.17%, from $346M in 2018 to $445M in 2023.

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

Comparison: In 2023, Azerbaijan ranked 84 in the Economic Complexity Index (ECI -0.43), and 70 in total exports ($31.2B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Azerbaijan exported $11.4B to Italy. The main products exported from Azerbaijan to Italy were Crude Petroleum ($6.55B), Petroleum Gas ($4.81B), and Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($24.3M). During the last 5 years the exports of Azerbaijan to Italy have increased at an annualized rate of 11.8%, from $6.55B in 2018 to $11.4B in 2023.

In 2018, Italy exported $445M to Azerbaijan. The main products exported from Italy to Azerbaijan were Gas Turbines ($40.1M), Cars ($22.8M), and Packaged Medicaments ($16.8M). During the last 5 years the exports of Italy to Azerbaijan have increased at an annualized rate of 5.17%, from $346M in 2023 to $445M in 2018.

Exports from Azerbaijan () to Italy () (2023)

Exports from Italy () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Italy ()

Azerbaijan Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Azerbaijan
Top DestinationItaly$11.4B

Italy
Top DestinationGermany$71.4B

This map shows whether countries import more from Azerbaijan or Italy. Each country is colored based on the difference in imports they receive from Azerbaijan and Italy or the difference in the growth in imports.

In 2023, countries that imported more from Azerbaijan than Italy included Georgia ($654M).

In 2023, countries that imported more from Italy than Azerbaijan included United States ($70.9B), Germany ($71.4B), and France ($61.1B).

Difference in imports from Italy () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Azerbaijan and Italy by product, considering products traded by both, Azerbaijan and Italy.

During 2023, Azerbaijan had a large net trade with Italy in the exports of Mineral Products ($11.4B), Chemical Products ($32.7M), and Vegetable Products ($15M).

During 2018, Italy had a large net trade with Azerbaijan in the exports of Machines ($170M), Chemical Products ($53.9M), and Transportation ($42.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Azerbaijan Italy+$19.8MRefined Petroleum

Top Product Potential Italy Azerbaijan+$16MCars

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

Year

This visualization shows the product space at the HS4 level with the flags of Azerbaijan and Italy. This means that a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Italy. Similarly, a dot/product with the flag of Italy indicates it has a comparative advantage over Azerbaijan.

About

Historical Data

Bilateral Trade by Products

Exports from Azerbaijan () to Italy () (2023)

Exports from Italy () to Azerbaijan () (2023)

Latest Data

Trade between Azerbaijan () and Italy ()

Azerbaijan Exports

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Azerbaijan () (2023)

Comparative Advantage Azerbaijan - Italy

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Azerbaijan () and Italy () (2023)

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