Azerbaijan: Candles And Tapers Market 2024

Candles And Tapers Market Size in Azerbaijan

The Azerbaijani candles and tapers market totaled $X in 2021, growing by 2.6% 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, posted a significant expansion. Candles and tapers consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Candles And Tapers Exports

Exports from Azerbaijan

After five years of decline, overseas shipments of candles and tapers increased by 320% to X kg in 2021. Over the period under review, exports, however, continue to indicate a abrupt decrease. The exports peaked at X kg in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, candles and tapers exports soared to $X in 2021. Overall, exports, however, saw a abrupt shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Ukraine (X kg) was the main destination for candles and tapers exports from Azerbaijan, accounting for a 76% share of total exports. Moreover, candles and tapers exports to Ukraine exceeded the volume sent to the second major destination, Turkey (X kg), fivefold. The third position in this ranking was taken by Russia (X kg), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Russia (-75.0% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for candles and tapers exports from Azerbaijan, comprising 58% of total exports. The second position in the ranking was held by Turkey ($X), with a 24% share of total exports. It was followed by Switzerland, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to Ukraine was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Switzerland (-7.4% per year).

Export Prices by Country

In 2021, the average candles and tapers export price amounted to $X per ton, surging by 47% against the previous year. Overall, the export price saw moderate growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 88% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+179.6%), while the prices for the other major destinations experienced mixed trend patterns.

Candles And Tapers Imports

Imports into Azerbaijan

In 2021, purchases abroad of candles and tapers decreased by -10.9% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, continue to indicate strong growth. The growth pace was the most rapid in 2016 when imports increased by 920% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, candles and tapers imports expanded markedly to $X in 2021. Overall, imports, however, enjoyed significant growth. The growth pace was the most rapid in 2016 with an increase of 567%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest candles and tapers supplier to Azerbaijan, with a 74% share of total imports. Moreover, candles and tapers imports from China exceeded the figures recorded by the second-largest supplier, Poland (X tons), eightfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +22.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+37.5% per year) and Russia (+0.8% per year).

In value terms, China ($X) constituted the largest supplier of candles and tapers to Azerbaijan, comprising 56% of total imports. The second position in the ranking was held by Poland ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +26.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+62.8% per year) and Russia (+4.6% per year).

Import Prices by Country

In 2021, the average candles and tapers import price amounted to $X per ton, with an increase of 22% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, candles and tapers import price increased by +19.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 50% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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