Romania (ROU) and Azerbaijan (AZE) Trade | The Observatory of Economic Complexity

About

Romania-Azerbaijan Trade: In 2022, Romania exported $41.1M to Azerbaijan. The main products that Romania exported to Azerbaijan were Packaged Medicaments ($6.81M), Valves ($5.63M), and Machinery Having Individual Functions ($5.08M). Over the past 5 years the exports of Romania to Azerbaijan have decreased at an annualized rate of 4.98%, from $53.1M in 2017 to $41.1M in 2022.

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

Azerbaijan-Romania Trade: In 2022, Azerbaijan exported $449M to Romania. The main products that Azerbaijan exported to Romania were Crude Petroleum ($379M), Nitrogenous Fertilizers ($33.6M), and Acyclic Alcohols ($23.1M). Over the past 5 years the exports of Azerbaijan to Romania have increased at an annualized rate of 10.3%, from $275M in 2017 to $449M in 2022.

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

Comparison: In 2022, Romania ranked 26 in the Economic Complexity Index (ECI 1.03), and 43 in total exports ($99.5B). 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

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Romania exported $41.1M to Azerbaijan. The main products exported from Romania to Azerbaijan were Packaged Medicaments ($6.81M), Valves ($5.63M), and Machinery Having Individual Functions ($5.08M). During the last 5 years the exports of Romania to Azerbaijan have decreased at an annualized rate of 4.98%, from $53.1M in 2017 to $41.1M in 2022.

In 2017, Azerbaijan exported $449M to Romania. The main products exported from Azerbaijan to Romania were Crude Petroleum ($379M), Nitrogenous Fertilizers ($33.6M), and Acyclic Alcohols ($23.1M). During the last 5 years the exports of Azerbaijan to Romania have increased at an annualized rate of 10.3%, from $275M in 2022 to $449M in 2017.

Exports from Romania () to Azerbaijan () (2022)

Exports from Azerbaijan () to Romania () (2022)

Latest Data

Trade between Romania () and Azerbaijan ()

Romania Exports

Date

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Romania
Top DestinationGermany$18.8B

Azerbaijan
Top DestinationItaly$18.3B

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

In 2022, countries that imported more from Romania than Azerbaijan included Germany ($18.8B), Hungary ($6.75B), and France ($5.73B).

In 2022, countries that imported more from Azerbaijan than Romania included Italy ($18.3B), India ($1.64B), and Israel ($1.68B).

Difference in imports from Azerbaijan () and Romania () (2022)

Comparative Advantage Romania - Azerbaijan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Romania had a large net trade with Azerbaijan in the exports of Machines ($13.9M), Chemical Products ($11.1M), and Foodstuffs ($5M).

During 2017, Azerbaijan had a large net trade with Romania in the exports of Mineral Products ($387M), Chemical Products ($56.7M), and Machines ($2.05M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Romania Azerbaijan+$6.43MRefined Petroleum

Top Product Potential Azerbaijan Romania+$71.5MCrude 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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Romania () to Azerbaijan () (2022)

Exports from Azerbaijan () to Romania () (2022)

Latest Data

Trade between Romania () and Azerbaijan ()

Romania Exports

Azerbaijan Exports

Market Competitiveness

Difference in imports from Azerbaijan () and Romania () (2022)

Comparative Advantage Romania - Azerbaijan

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

Product Space of Romania () and Azerbaijan () (2022)

Keep Exploring