Azerbaijan-Italy Bilateral Trade Analysis 2023
Complete trade statistics: $15.54B total volume •Azerbaijan surplus: $14.61B
Azerbaijan → Italy
$15.07B
Exports (2023)
Italy → Azerbaijan
$462.05M
Imports (2023)
Trade Balance
$14.61B
Surplus for Azerbaijan
Total Trade
$15.54B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Azerbaijan and Italy. Green line shows exports from Azerbaijan, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Azerbaijan-Italy commercial relationship and competitive positioning in global markets.
Azerbaijan → Italy Exports
Export Market Intelligence
🎯 Strategic Export Focus
Azerbaijan's export portfolio to Italy demonstrates strong diversification across multiple sectors, with petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas representing a key competitive advantage in this bilateral market.
Italy → Azerbaijan Imports
Import Dependency Profile
📦 Import Strategy Analysis
Azerbaijan's import pattern from Italy reveals significant dependencyin turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers), highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Azerbaijan demonstrates competitive strength in exportingpetroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas to Italy, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $15.54B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Azerbaijan-Italy Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $15.54 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Azerbaijan maintains a surplus of $14.61 billion
- Export Focus: Azerbaijan's primary exports include petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, oils: petroleum oils and oils obtained from bituminous minerals, crude, 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
- Import Dependencies: Key imports from Italy include turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers), medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 3000cc
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $15.54B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Azerbaijan leveraging its comparative advantages in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Azerbaijan's specialization in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gascomplements Italy's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers).
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $15.54B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $15.54B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $15.54 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas and turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers) demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Azerbaijan's trade surplus of $14.61 billion strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Azerbaijan and Italy represents a total trade volume of $15.54 billion in 2023. This partnership demonstrates a favorable trade balance for Azerbaijan, with exports exceeding importsby $14.61 billion.
Export Strengths
Azerbaijan's exports to Italy total $15.07 billion, with competitive advantages in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, representing $7.93B or52.6% of bilateral exports.
Import Dependencies
Imports from Italy amount to $462.05 million, highlighting economic interdependence in turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers), with Turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers) comprising8.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Azerbaijan's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Azerbaijan and Italy in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023