Azerbaijan exported products worth $38.1 billion to the world in 2022. Compared to 2021, the total value of Azerbaijan's exports increased by 71.8% from $22.2 billion.

Azerbaijan's three most valuable export products are crude oil, LPG and processed oil. Overall, these three main energy products account for 91.8% of Azerbaijan's total revenue from all exports in 2022.

Azerbaijan's Best Export Customers

The latest country-specific customs data show that Azerbaijan's exports are mainly purchased by importers in Italy (46.6% of Azerbaijan's total), Turkey (9.3%), Israel (4.41%), India (4.36%), Greece (3.6%), Spain (2.65%), Russia (2.56%), Croatia (2.5%) (2.5%), Czech Republic (2.4%), United Kingdom (2%), Portugal (1.9%) and Georgia (1.7%).

Azerbaijan's Top 10 Exports

1. Mineral fuels including oil: $35.3 billion (92.5% of total exports)

2. Fruits, nuts: $448.7 million (1.2%)

3. Plastics, plastic products: $386.2 million (1%)

4. Vegetables: $218.9 million (0.6%)

5. Aluminum: $217.6 million (0.6%)

6. Cotton: $213.8 million (0.6%)

7. Fertilizer: $210.7 million (0.6%)

8. Gems, precious metals: $190.2 million (0.5%)

9. Organic chemicals: $138.5 million (0.4%)

10. Steel: $90.2 million (0.2%)

Azerbaijan's top ten export categories account for 98.1% of its total global exports.

Mineral fuels, including oil, are the fastest growing of the top ten export categories, growing by 79.8% 2021 to 2022. Ranking second in terms of improved export sales are Azerbaijan's fertilizer exports, which grew by 73.7 percent. Azerbaijan's organic chemical shipments ranked third - with the fastest increase in value, up 38.8 percent.

The largest decline among Azerbaijan's top 10 export categories was cotton, which fell by -21.7% year-on-year.

At the more granular four-digit HS code level, crude oil is Azerbaijan's most valuable export, accounting for 51.5% of the country's total global sales. In second place was LPG (39.3%), followed by processed petroleum (1.4%), nitrogen fertilizers (0.5%), unwrought gold (0.5%), unwoven cotton (0.5%), all kinds of fresh fruits (0.5%), fresh or frozen tomatoes (0.4%), ethylene polymers (0.4%), and then propylene or olefinic polymers (0.4%).