Italy-Azerbaijan Bilateral Trade Analysis 2023
Complete trade statistics: $15.54B total volume •Italy deficit: $14.61B
Italy → Azerbaijan
$462.05M
Exports (2023)
Azerbaijan → Italy
$15.07B
Imports (2023)
Trade Balance
$14.61B
Deficit for Italy
Total Trade
$15.54B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Italy and Azerbaijan. Green line shows exports from Italy, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Italy-Azerbaijan commercial relationship and competitive positioning in global markets.
Italy → Azerbaijan Exports
Export Market Intelligence
🎯 Strategic Export Focus
Italy's export portfolio to Azerbaijan demonstrates strong diversification across multiple sectors, with turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers) representing a key competitive advantage in this bilateral market.
Azerbaijan → Italy Imports
Import Dependency Profile
📦 Import Strategy Analysis
Italy's import pattern from Azerbaijan reveals significant dependencyin petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Italy demonstrates competitive strength in exportingturbines: parts of gas turbines (excluding turbo-jets and turbo-propellers) to Azerbaijan, 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: Italy-Azerbaijan Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $15.54 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Italy maintains a deficit of $14.61 billion
- Export Focus: Italy's primary exports 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
- Import Dependencies: Key imports from Azerbaijan 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
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 Italy leveraging its comparative advantages in turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers).
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
Italy's specialization in turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers)complements Azerbaijan's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas.
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 turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers) and petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Italy's trade deficit of $14.61 billion impacts 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 Italy and Azerbaijan represents a total trade volume of $15.54 billion in 2023. This partnership demonstrates an unfavorable trade balance for Italy, with imports exceeding exportsby $14.61 billion.
Export Strengths
Italy's exports to Azerbaijan total $462.05 million, with competitive advantages in turbines: parts of gas turbines (excluding turbo-jets and turbo-propellers), representing $40.10M or8.7% of bilateral exports.
Import Dependencies
Imports from Azerbaijan amount to $15.07 billion, highlighting economic interdependence in petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas, with Petroleum gases and other gaseous hydrocarbons: in gaseous state, natural gas comprising52.6% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Italy's strategic sourcing from Azerbaijan. 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 Italy and Azerbaijan in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023