Azerbaijan: Copper Wire Market 2024

Copper Wire Market Size in Azerbaijan

The Azerbaijani copper wire market plummeted to $X in 2021, dropping by -18.3% against the previous year. Overall, consumption showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Copper Wire Production in Azerbaijan

In value terms, copper wire production plummeted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 57% against the previous year. Copper wire production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Copper Wire Exports

Exports from Azerbaijan

In 2021, shipments abroad of copper wire increased by 190% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 213%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, copper wire exports soared to $X in 2021. Overall, exports enjoyed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) and Georgia (X tons) were the main destinations of copper wire exports from Azerbaijan.

From 2012 to 2021, the biggest increases were recorded for Georgia (with a CAGR of +27.7%).

In value terms, Turkey ($X) and Georgia ($X) constituted the largest markets for copper wire exported from Azerbaijan worldwide.

Turkey, with a CAGR of +32.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average copper wire export price amounted to $X per ton, jumping by 25% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire export price increased by +40.0% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 37%. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in years to come.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Turkey amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+8.8%).

Copper Wire Imports

Imports into Azerbaijan

In 2021, supplies from abroad of copper wire decreased by -14% to X tons, falling for the second consecutive year after three years of growth. In general, imports recorded a deep reduction. The pace of growth was the most pronounced in 2019 when imports increased by 46%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, copper wire imports skyrocketed to $X in 2021. Over the period under review, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 53%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Uzbekistan (X tons) constituted the largest supplier of copper wire to Azerbaijan, accounting for a 72% share of total imports. Moreover, copper wire imports from Uzbekistan exceeded the figures recorded by the second-largest supplier, Russia (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 3.3% share.

From 2012 to 2021, the average annual growth rate of volume from Uzbekistan totaled +23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-21.4% per year) and Turkey (-6.4% per year).

In value terms, Uzbekistan ($X) constituted the largest supplier of copper wire to Azerbaijan, comprising 74% of total imports. The second position in the ranking was taken by Russia ($X), with an 18% share of total imports. It was followed by Turkey, with a 3.5% share.

From 2012 to 2021, the average annual growth rate of value from Uzbekistan totaled +30.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-20.8% per year) and Turkey (+0.6% per year).

Import Prices by Country

The average copper wire import price stood at $X per ton in 2021, rising by 45% against the previous year. In general, import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper wire import price increased by +49.2% against 2019 indices. As a result, import price reached the peak level 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 Turkey ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform