Trade Trend

In 2023, Azerbaijan's total export value is 33.90Billion USD, total import value is 17.28Billion USD, Surplus is 16.62Billion USD, and foreign trade dependency is 0.707. In 2023，Azerbaijan's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(16.24Billion USD), Petroleum gases and other gaseous hydrocarbons(13.68Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(572.11Million USD), top export destinations are Italy(15.21Billion USD), Turkey(5.36Billion USD), Israel(1.40Billion USD). In 2023, Azerbaijan's top import products are Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(1.52Billion USD), Petroleum oils and oils obtained from bituminous minerals; crude(1.08Billion USD), Commodities not specified according to kind(663.12Million USD), top import origins are Russia(3.12Billion USD), China(2.96Billion USD), Turkey(2.35Billion USD).

Comparing to 2022, Azerbaijan's total export value decreased -4.17Billion USD(-10.95%) in 2023, this could result from its export decreases of products such as Petroleum oils and oils obtained from bituminous minerals; crude(-3.24Billion USD or -16.64%), Petroleum gases and other gaseous hydrocarbons(-1.32Billion USD or -8.81%), Fertilizers; mineral or chemical, nitrogenous(-126.86Million USD or -60.45%) and export decreases to countries/economics such as Italy(-2.57Billion USD or -14.48%), Indonesia(-455.25Million USD or -75.12%), Portugal(-443.78Million USD or -59.70%). Comparing to 2022, Azerbaijan's total import value increased 2.75Billion USD(18.90%) in 2023, this could result from its import increases of products such as Motor cars and other motor vehicles; principally designed for the transport of persons (other than those of heading no. 8702), including station wagons and racing cars(670.73Million USD or 79.40%), Petroleum oils and oils obtained from bituminous minerals; crude(626.31Million USD or 138.89%), Commodities not specified according to kind(499.43Million USD or 305.09%), and its import increases from countries/economies such as China(869.31Million USD or 41.68%), Russia(386.82Million USD or 14.15%), United States(379.04Million USD or 78.95%).

Cumulated to first 7 months of 2024, Azerbaijan's total export value is 7.49Billion USD, total import value is 4.95Billion USD, and tradesurplus is 2.54Billion USD. Cumulated to first 7 months of 2024, Azerbaijan's top export products are Petroleum oils and oils obtained from bituminous minerals; crude(4.40Billion USD), Petroleum gases and other gaseous hydrocarbons(2.12Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(100.53Million USD), and top export destinations are Italy(2.68Billion USD), Turkey(930.46Million USD), Israel(626.44Million USD). Cumulated to first 7 months of 2024, Azerbaijan's top import products are Petroleum oils and oils obtained from bituminous minerals; crude(4.40Billion USD), Petroleum gases and other gaseous hydrocarbons(2.12Billion USD), Petroleum oils and oils from bituminous minerals, not crude; preparations n.e.c, containing by weight 70% or more of petroleum oils or oils from bituminous minerals; these being the basic constituents of the preparations; waste oils(100.53Million USD), and top import origins areChina(1.06Billion USD), Russia(661.64Million USD), Turkey(538.12Million USD).