Azerbaijan: Market for Articles Of Iron Or Steel 2025

Market Size for Articles Of Iron Or Steel in Azerbaijan

The Azerbaijani steel and iron articles market soared to $X in 2022, increasing by 27% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a perceptible setback. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Articles Of Iron Or Steel

Exports from Azerbaijan

Steel and iron articles exports from Azerbaijan soared to X tons in 2022, rising by 269% compared with the previous year's figure. Overall, exports enjoyed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, steel and iron articles exports surged to $X in 2022. Over the period under review, exports enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 186% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey (X tons), the United Arab Emirates (X tons) and Turkmenistan (X tons) were the main destinations of steel and iron articles exports from Azerbaijan, together comprising 76% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of +192.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for steel and iron articles exported from Azerbaijan were the UK ($X), Turkmenistan ($X) and Turkey ($X), together comprising 56% of total exports. Kazakhstan, the United Arab Emirates, Qatar, Russia, Latvia and Uzbekistan lagged somewhat behind, together accounting for a further 31%.

Qatar, with a CAGR of +288.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average steel and iron articles export price stood at $X per ton in 2022, dropping by -42.3% against the previous year. Over the period under review, the export price recorded a abrupt descent. The pace of growth was the most pronounced in 2013 when the average export price increased by 167% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+47.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports into Azerbaijan

In 2022, the amount of articles of iron or steel imported into Azerbaijan skyrocketed to X tons, with an increase of 28% against 2021 figures. Over the period under review, imports, however, showed a perceptible curtailment. The pace of growth was the most pronounced in 2014 when imports increased by 68% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, steel and iron articles imports surged to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 52%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of steel and iron articles to Azerbaijan, with a 44% share of total imports. Moreover, steel and iron articles imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Iran (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled -10.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+17.7% per year) and Iran (+89.4% per year).

In value terms, Turkey ($X), China ($X) and the UK ($X) appeared to be the largest steel and iron articles suppliers to Azerbaijan, together accounting for 57% of total imports. Russia, the United States, Germany, Iran, Italy and Romania lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, Romania, with a CAGR of +106.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel and iron articles import price amounted to $X per ton, picking up by 6.3% against the previous year. Over the period under review, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel and iron articles import price increased by +32.8% against 2018 indices. The pace of growth was the most pronounced in 2015 when the average import price increased by 130% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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