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2022
Flag → Flag
Exports $1.34MRnk 66 / 160
2022
Flag → Flag
Top Product $619kNon-fillet Frozen Fish
2022
Flag → Flag
Exports $11.6kRnk 120 / 141
2022
Flag → Flag
Top Product $11.4kRefined Petroleum
2022
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Economic Complexity (ECI) ECI -0.44Rnk 83 / 133
2022
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GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
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GDP GROWTH88.7%CURRENT US$
Rnk 20 / 186
2022
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 GDP$78.7BCURRENT US$
Rnk 73 / 186
2012-2022
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GDP GROWTH13%CURRENT US$
Rnk 140 / 186
2022
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GDP PC $72,903CURRENT US$
Rnk 9 / 186
2012-2022
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GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186
2022
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GDP PC$7,737CURRENT US$
Rnk 87 / 186
2012-2022
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GDP PC GROWTH3.21%CURRENT US$
Rnk 134 / 186

About

Iceland-Azerbaijan In 2022, Iceland exported $1.34M to Azerbaijan. The main products that Iceland exported to Azerbaijan are Non-fillet Frozen Fish ($619k), Fish Fillets ($350k), and Orthopedic Appliances ($271k). During the last 26 years the exports of Iceland to Azerbaijan have increased at an annualized rate of 20.6%, from $10.4k in 1996 to $1.34M in 2022.

In 2022, Iceland did not export any services to Azerbaijan.

Azerbaijan-Iceland In 2022, Azerbaijan exported $11.6k to Iceland. The main products that Azerbaijan exported to Iceland were Refined Petroleum ($11.4k) and Other Nuts ($239). During the last 26 years the exports of Azerbaijan to Iceland have increased at an annualized rate of 9.88%, from $1k in 1996 to $11.6k in 2022.

In 2022, Azerbaijan did not export any services to Iceland.

Comparison In 2022,  Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index. 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
Value

In 2022, Iceland exported $1.34M to Azerbaijan. The main products exported from Iceland to Azerbaijan were Non-fillet Frozen Fish ($619k), Fish Fillets ($350k), and Orthopedic Appliances ($271k). During the last 26 years the exports of Iceland to Azerbaijan have increased at an annualized rate of 20.6%, from $10.4k in 1996 to $1.34M in 2022.

In 2022, Azerbaijan exported $11.6k to Iceland. The main products exported from Azerbaijan to Iceland were Refined Petroleum ($11.4k) and Other Nuts ($239). During the last 24 years the exports of Azerbaijan to Iceland have increased at an annualized rate of 9.88%, from $1k in 1998 to $11.6k in 2022.

Exports from Iceland (Flag) to Azerbaijan (Flag) (2022)

Exports from Azerbaijan (Flag) to Iceland (Flag) (2022)

Latest Data

Trade between Iceland (Flag) and Azerbaijan (Flag)

Iceland Exports

Azerbaijan Exports

Market Competitiveness

Color
Iceland
Top DestinationNetherlands$1.97B
Azerbaijan
Top DestinationItaly$18.3B

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

In 2021, countries that imported more from Iceland than Azerbaijan were Netherlands ($1.97B), United States ($613M), and Norway ($459M).

In 2021, countries that imported more from Azerbaijan than Iceland were Italy ($18.3B), Turkey ($3.57B), and Israel ($1.68B).

Difference in imports from Azerbaijan (Flag) and Iceland (Flag) (2022)

Comparative Advantage Iceland - Azerbaijan

Flow
Scale

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

During 2022, Iceland had a large net trade with Azerbaijan in the exports of Animal Products ($970k), Instruments ($272k), and Foodstuffs ($88.6k).

During 2022, Azerbaijan had a large net trade with Iceland in the exports of Mineral Products ($11.4k) and Vegetable Products ($239).

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Iceland has comparative advantage over Azerbaijan. Similarly, the more yellow a dot/product is, the more Azerbaijan has comparative advantage over Iceland.

Product Space of Iceland (Flag) and Azerbaijan (Flag) (2022)

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