Azerbaijan: Trade openness
* indicates monthly or quarterly data series
| Azerbaijan |
Trade openness: exports plus imports as percent of GDP |
|---|---|
| Latest value | 83.62 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1990 - 2023 |
| Average | 87.76 |
| Min - Max | 55.35 - 140.80 |
| Source | The World Bank |
The latest value from 2023 is 83.62 percent, a decline from 86.98 percent in 2022. In comparison, the world average is 95.00 percent, based on data from 154 countries. Historically, the average for Azerbaijan from 1990 to 2023 is 87.76 percent. The minimum value, 55.35 percent, was reached in 1994 while the maximum of 140.8 percent was recorded in 1992.
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Definition: Exports plus imports as percent of GDP.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 156.78 | 2021 | percent |
| Trade openness | 83.62 | 2023 | percent |
| Financial openness | 0.024 | 2021 | index points |
| Exports, percent of GDP | 49.05 | 2023 | percent |
| Exports, billion dollars | 35.49 | 2023 | billion U.S. dollars |
| Growth of exports | -1.10 | 2014 | percent |
| Imports, percent of GDP | 34.57 | 2023 | percent |
| Imports, billion dollars | 25.02 | 2023 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | 0.35 | 2023 | percent |
| Foreign Direct Investment, billion dollars | 0.25 | 2023 | billion U.S. dollars |
| Portfolio investment inflows, equities | -1.20 | 2023 | million dollars (current) |
| Current account, percent of GDP | 11.51 | 2023 | percent |
| Current account, in dollars | 8.33 | 2023 | billion U.S. dollars |
| Trade balance, percent of GDP | 14.47 | 2023 | percent |
| Trade balance, in dollars | 10.47 | 2023 | billion U.S. dollars |
| Reserves | 13.75 | 2023 | billion U.S. dollars |
| Remittances, percent of GDP | 3.87 | 2023 | percent |
| Remittances | 2,800.00 | 2023 | million U.S. dollars |
| Net errors and omissions | 1,320.61 | 2023 | million USD |
| External debt | 20.80 | 2022 | percent |
| Short-term external debt | 4.21 | 2023 | percent |
| Short-term debt to reserves | 4.45 | 2023 | percent |
| Foreign exchange reserves | 10.99 | 1/2025 | billion |