Azerbaijan’s Prime 10 Exports 2020


Azerbaijan (FlagPictures)

Strategically positioned on the confluence of southwestern Asia with southeastern Europe north of Iran and south of Russia, the Republic of Azerbaijan shipped US$13.7 billion value of products across the globe in 2020. That greenback quantity displays a -30% decline since 2016 however a 2.7% improve from 2019 to 2020.

Based mostly on the common alternate charge for 2020, the Azerbaijani manat depreciated by -4% towards the US greenback since 2016 however remained about the identical from 2019 to 2020. Azerbaijan’s weaker native foreign money since 2016 makes its exports paid for in stronger US {dollars} comparatively inexpensive for worldwide patrons.

The three largest export merchandise (crude oil, petroleum gases, processed petroleum oils) characterize 86.3% of the general income paid for all Azerbaijani exports throughout 2020. That proportion signifies a extremely concentrated portfolio of exports.

Azerbaijan’s Main Buying and selling Companions

The most recent out there country-specific knowledge exhibits that 81.9% of merchandise exported from Azerbaijan had been purchased by importers in: Italy (30.4% of the worldwide whole), Turkey (18.9%), Russia (5.2%), Greece (3.8%), Croatia (3.4%), Georgia (additionally 3.4%), India (3.3%), Israel (3.2%), China (3.1%), Ukraine (2.6%), Spain (2.4%) and Tunisia (2.3%).

From a continental perspective, 60.1% of Azerbaijan exports by worth had been delivered to European nations whereas 36.7% had been offered to importers in Asia.

Smaller percentages went to Africa (2.4%), Oceania (0.5%) largely Australia, North America (0.2%) and Latin America (0.1%) excluding Mexico however together with the Caribbean.

Given Azerbaijan’s inhabitants of 10.1 million individuals, its whole $19.6 billion in 2020 exports interprets to roughly $1,400 for each resident within the Center Japanese nation.

Prime 10

The next export product teams characterize the very best greenback worth in Azerbaijani world shipments throughout 2020. Additionally proven is the share share every export class represents by way of total exports from Azerbaijan.

  1. Mineral fuels together with oil: US$17.8 billion (90.7% of whole exports)
  2. Fruits, nuts: $362.6 million (1.8%)
  3. Greens: $243.2 million (1.2%)
  4. Plastics, plastic articles: $179.4 million (0.9%)
  5. Gems, treasured metals: $174.5 million (0.9%)
  6. Cotton: $158.5 million (0.8%)
  7. Aluminum: $128 million (0.7%)
  8. Natural chemical substances: $66.9 million (0.3%)
  9. Equipment together with computer systems: $43.9 million (0.2%)
  10. Iron, metal: $39.4 million (0.2%)

Azerbaijan’s prime 10 exports accounted for 97.3% of the general worth of its world shipments.

Gems and treasured metals was the quickest grower among the many prime 10 export classes, up by 19.5% from 2019 to 2020. That progress was propelled by increased worldwide gross sales of Azerbaijani exported gold and silver.

In second place for bettering export gross sales was equipment together with computer systems by way of an 8.3% achieve.

Azerbaijan’s shipments of greens posted the one different achieve in worth amongst prime exports, up by 4.6%.

The main decliner amongst Azerbaijan’s prime 10 export classes was mineral fuels together with oil because of a -32.7% drop 12 months over 12 months.

On the extra granular four-digit Harmonized Tariff System code degree, crude oil represents Azerbaijan’s most precious exported product at 68.1% of the nation’s whole world gross sales. In second place had been petroleum gases (16%) trailed by processed petroleum oils (2.1%), unwrought gold (1.5%), recent or chilled tomatoes (1.5%), miscellaneous recent fruits (1%), uncarded cotton (additionally 1%) then miscellaneous nuts (0.8%).


Total Azerbaijan achieved an estimated $3 billion commerce surplus for 2020, down by -49.7% from the $6 billion in black ink one 12 months earlier.

The next sorts of Azerbaijani product shipments characterize constructive internet exports or a commerce stability surplus. Investopedia defines internet exports as the worth of a rustic’s whole exports minus the worth of its whole imports.

In a nutshell, internet exports characterize the quantity by which overseas spending on a house nation’s items or companies exceeds or lags the house nation’s spending on overseas items or companies.

  1. Mineral fuels together with oil: US$11.7 billion (Down by -31.1% since 2019)
  2. Fruits, nuts: $228.7 million (Down by -3.9%)
  3. Gems, treasured metals: $196.4 million (Reversing a -$1.96 billion deficit)
  4. Greens: $175 million (Up by 0.9%)
  5. Cotton: $150.6 million (Down by -1.2%)
  6. Aluminum: $20.7 million (Down by -41%)
  7. Ores, slag, ash: $19.5 million (Down by -2.8%)
  8. Natural chemical substances: $17.6 million (Down by -24%)
  9. Lead: $10 million (Down by -15.3%)
  10. Uncooked hides, skins not furskins, leather-based: $7.9 million (Down by -28.6%)

Azerbaijan has extremely constructive internet exports within the worldwide commerce of crude oil and, to a lesser extent, petroleum gases and refined oils. In flip, these cashflows point out Azerbaijan’s sturdy aggressive benefits below the class known as mineral fuels together with oil.


Under are exports from Azerbaijan that lead to damaging internet exports or product commerce stability deficits. These damaging internet exports reveal product classes the place overseas spending on dwelling nation Azerbaijan’s items path Azerbaijani importer spending on overseas merchandise.

  1. Equipment together with computer systems: -US$1.5 billion (Down by -4.7% since 2019)
  2. Electrical equipment, gear: -$952.8 million (Down by -3.8%)
  3. Autos: -$808.6 million (Down by -12.4%)
  4. Articles of iron or metal: -$549.9 million (Down by -11.9%)
  5. Prescription drugs: -$376.5 million (Up by 27.5%)
  6. Cereals: -$360.5 million (Down by -9.4%)
  7. Iron, metal: -$344.5 million (Down by -5.9%)
  8. Wooden: -$257.5 million (Down by -9.4%)
  9. Optical, technical, medical equipment: -$219.4 million (Down by -0.8%)
  10. Plastics, plastic articles: -$181.4 million (Down by -19.2%)

Azerbaijan has extremely damaging internet exports and subsequently deep worldwide commerce deficits below the equipment together with computer systems class.


Not one Azerbaijani company ranks amongst Forbes International 2000 for 2016.

Wikipedia lists exports-related firms from Azerbaijan. Chosen examples are proven under.

  • Akkord Business Building Funding Corp (development supplies)
  • Azal Avia Cargo (cargo airline)
  • AzMeCo (methanol)
  • AzSamand (autos)
  • Bahra Biscuit Manufacturing unit (meals)
  • Ganja Auto Plant (autos)
  • Gazelli Group (cosmetics)
  • Inter Glass (glass merchandise)
  • Shollar water (drinks)
  • SOCAR (oil, fuel)

In macroeconomic phrases, Azerbaijan’s whole exported items characterize 9% of its total Gross Home Product for 2020 ($151.9 billion valued in Buying Energy Parity US {dollars}). That 9% for exports to total GDP in PPP for 2020 compares to 10.5% one 12 months earlier. These percentages point out a comparatively lowering reliance on merchandise offered on worldwide markets for Azerbaijan’s whole financial efficiency, albeit based mostly on a brief timeframe.

One other key indicator of a rustic’s financial efficiency is its unemployment charge. Azerbaijan’s common unemployment charge was 6.541% in 2020, down from a median 4.848% one 12 months earlier in accordance with knowledge from the Worldwide Financial Fund.

Azerbaijan’s capital metropolis is Baku, derived from Persian wording that interprets to “Wind-pounded metropolis”.

See additionally Crude Oil Exports by Nation, Candy Cherries Exports by Nation and Capital Details for Baku, Azerbaijan

Analysis Sources:
Central Intelligence Company, Nation Profiles, The World Factbook. Accessed on September 17, 2021

Forbes International 2000 rankings, The World’s Largest Public Firms. Accessed on September 17, 2021

Worldwide Financial Fund, Trade Charges chosen indicators (Nationwide Foreign money per U.S. greenback, interval common). Accessed on September 17, 2021

Worldwide Financial Fund, World Financial Outlook Database (GDP based mostly on Buying Energy Parity). Accessed on September 17, 2021

Worldwide Commerce Centre, Commerce Map. Accessed on September 17, 2021

Investopedia, Internet Exports Definition. Accessed on September 17, 2021

Wikipedia, Gross home product. Accessed on September 17, 2021

Wikipedia, Checklist of Firms of Azerbaijan. Accessed on September 17, 2021

Wikipedia, Buying energy parity. Accessed on September 17, 2021


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