Hong Kong (HKG) and Azerbaijan (AZE) Trade | The Observatory of Economic Complexity

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Hong Kong-Azerbaijan Trade: In 2022, Hong Kong exported $14.7M to Azerbaijan. The main products that Hong Kong exported to Azerbaijan were Base Metal Watches ($3.34M), Computers ($2.6M), and Medical Instruments ($1.17M). Over the past 5 years the exports of Hong Kong to Azerbaijan have decreased at an annualized rate of 2.62%, from $16.8M in 2017 to $14.7M in 2022.

In 2022, Hong Kong did not export any services to Azerbaijan.

Azerbaijan-Hong Kong Trade: In 2022, Azerbaijan exported $3.93M to Hong Kong. The main products that Azerbaijan exported to Hong Kong were Animal Organs ($991k), Cars ($744k), and Liquid Dispersing Machines ($491k). Over the past 5 years the exports of Azerbaijan to Hong Kong have increased at an annualized rate of 27.9%, from $1.15M in 2017 to $3.93M in 2022.

In 2022, Azerbaijan did not export any services to Hong Kong.

Comparison: In 2022, Hong Kong ranked 21 in the Economic Complexity Index (ECI 1.18), and 39 in total exports ($113B). 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, Hong Kong exported $14.7M to Azerbaijan. The main products exported from Hong Kong to Azerbaijan were Base Metal Watches ($3.34M), Computers ($2.6M), and Medical Instruments ($1.17M). During the last 5 years the exports of Hong Kong to Azerbaijan have decreased at an annualized rate of 2.62%, from $16.8M in 2017 to $14.7M in 2022.

In 2017, Azerbaijan exported $3.93M to Hong Kong. The main products exported from Azerbaijan to Hong Kong were Animal Organs ($991k), Cars ($744k), and Liquid Dispersing Machines ($491k). During the last 5 years the exports of Azerbaijan to Hong Kong have increased at an annualized rate of 27.9%, from $1.15M in 2022 to $3.93M in 2017.

Exports from Hong Kong () to Azerbaijan () (2022)

Exports from Azerbaijan () to Hong Kong () (2022)

Latest Data

Trade between Hong Kong () and Azerbaijan ()

Hong Kong Exports

Date

Azerbaijan Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hong Kong
Top DestinationChina$23.4B

Azerbaijan
Top DestinationItaly$18.3B

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

In 2022, countries that imported more from Hong Kong than Azerbaijan included China ($23.4B), India ($14.3B), and Netherlands ($6.56B).

In 2022, countries that imported more from Azerbaijan than Hong Kong included Italy ($18.3B), Turkey ($3.57B), and Greece ($1.51B).

Difference in imports from Azerbaijan () and Hong Kong () (2022)

Comparative Advantage Hong Kong - Azerbaijan

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Hong Kong had a large net trade with Azerbaijan in the exports of Instruments ($6.01M), Machines ($5.9M), and Textiles ($635k).

During 2017, Azerbaijan had a large net trade with Hong Kong in the exports of Animal Products ($1.07M), Machines ($911k), and Transportation ($860k).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hong Kong Azerbaijan+$2.8MComputers

Top Product Potential Azerbaijan Hong Kong+$836kCars

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 Hong Kong and Azerbaijan. This means that a dot/product with the flag of Hong Kong indicates it has a comparative advantage over Azerbaijan. Similarly, a dot/product with the flag of Azerbaijan indicates it has a comparative advantage over Hong Kong.

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Historical Data

Bilateral Trade by Products

Exports from Hong Kong () to Azerbaijan () (2022)

Exports from Azerbaijan () to Hong Kong () (2022)

Latest Data

Trade between Hong Kong () and Azerbaijan ()

Hong Kong Exports

Azerbaijan Exports

Market Competitiveness

Difference in imports from Azerbaijan () and Hong Kong () (2022)

Comparative Advantage Hong Kong - Azerbaijan

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Hong Kong () and Azerbaijan () (2022)

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