2022
Flag  
GDP
$3.39TCURRENT US$
Rnk 5 / 186
2012-2022
Flag
GDP GROWTH
85.2%CURRENT US$
Rnk 24 / 186
2022
Flag
 GDP
$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 140 / 186
2022
Flag
GDP PC 
$2,389CURRENT US$
Rnk 140 / 186
2012-2022
Flag
GDP PC GROWTH
66.6%CURRENT US$
Rnk 20 / 186
2022
Flag
GDP PC
$7,737CURRENT US$
Rnk 87 / 186
2012-2022
Flag
GDP PC GROWTH
3.21%CURRENT US$
Rnk 134 / 186

About

India-Azerbaijan Trade: In 2022, India exported $141M to Azerbaijan. The main products that India exported to Azerbaijan were Packaged Medicaments ($22.4M), Broadcasting Equipment ($19.3M), and Processed Tobacco ($18.9M). Over the past 5 years the exports of India to Azerbaijan have increased at an annualized rate of 13.4%, from $75.3M in 2017 to $141M in 2022.

In 2022, India did not export any services to Azerbaijan.

Azerbaijan-India Trade: In 2022, Azerbaijan exported $1.64B to India. The main products that Azerbaijan exported to India were Crude Petroleum ($1.6B), Nitrogenous Fertilizers ($28.8M), and Petroleum Coke ($6.55M). Over the past 5 years the exports of Azerbaijan to India have increased at an annualized rate of 32%,  from $410M in 2017 to $1.64B in 2022.

In 2008, Azerbaijan exported services to India worth $1.08M, with Travel ($1.08M) being the largest in terms of value.

Comparison: In 2022,  India ranked 40 in the Economic Complexity Index (ECI 0.64), and 15 in total exports ($468B). That same year, Azerbaijan ranked 83 in the Economic Complexity Index (ECI -0.44), and 65 in total exports ($38.9B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, India exported $141M to Azerbaijan. The main products exported from India to Azerbaijan were Packaged Medicaments ($22.4M), Broadcasting Equipment ($19.3M), and Processed Tobacco ($18.9M). During the last 5 years the exports of India to Azerbaijan have increased at an annualized rate of 13.4%, from $75.3M in 2017 to $141M in 2022.

In 2017, Azerbaijan exported $1.64B to India. The main products exported from Azerbaijan to India were Crude Petroleum ($1.6B), Nitrogenous Fertilizers ($28.8M), and Petroleum Coke ($6.55M). During the last 5 years the exports of Azerbaijan to India have increased at an annualized rate of 32%, from $410M in 2022 to $1.64B in 2017.

Exports from India (Flag) to Azerbaijan (Flag) (2022)

Exports from Azerbaijan (Flag) to India (Flag) (2022)

Market Competitiveness

Color
India
Top Destination
United States$82.9B
Azerbaijan
Top Destination
Italy$18.3B

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

In 2022, countries that imported more from India than Azerbaijan included United States ($82.9B), United Arab Emirates ($31.6B), and Netherlands ($17.6B).

In 2022, countries that imported more from Azerbaijan than India included Italy ($18.3B), Croatia ($990M), and Greece ($1.51B).

Difference in imports from Azerbaijan (Flag) and India (Flag) (2022)

Comparative Advantage India - Azerbaijan

Flow
Scale

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

During 2022, India had a large net trade with Azerbaijan in the exports of Machines ($38.5M), Chemical Products ($35.4M), and Foodstuffs ($22.3M).

During 2017, Azerbaijan had a large net trade with India in the exports of Mineral Products ($1.61B), Chemical Products ($29.9M), and Animal Hides ($740k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Azerbaijan+$23.4MPackaged Medicaments
Top Product Potential Azerbaijan India+$1.08BCrude Petroleum

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

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

Product Space of India (Flag) and Azerbaijan (Flag) (2022)

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