Azerbaijan: Domestic Appliances Market 2024

Domestic Appliances Market Size in Azerbaijan

The Azerbaijani domestic appliances market soared to $X in 2021, increasing by 62% against the previous year. Overall, consumption posted a buoyant expansion. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in years to come.

Domestic Appliances Production in Azerbaijan

In value terms, domestic appliances production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by 25% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Domestic Appliances Exports

Exports from Azerbaijan

In 2021, shipments abroad of domestic appliances was finally on the rise to reach X units after two years of decline. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, domestic appliances exports surged to $X in 2021. Overall, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Georgia (X units) was the main destination for domestic appliances exports from Azerbaijan, accounting for a 27% share of total exports. Moreover, domestic appliances exports to Georgia exceeded the volume sent to the second major destination, Russia (X units), eightfold. Turkey (X units) ranked third in terms of total exports with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia amounted to +16.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+2.7% per year) and Turkey (+3.7% per year).

In value terms, Georgia ($X) emerged as the key foreign market for domestic appliances exports from Azerbaijan, comprising 40% of total exports. The second position in the ranking was taken by Russia ($X), with a 6.4% share of total exports. It was followed by the UK, with a 6.1% share.

From 2012 to 2021, the average annual growth rate of value to Georgia stood at +24.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+7.9% per year) and the UK (+18.5% per year).

Export Prices by Country

In 2021, the average domestic appliances export price amounted to $X per unit, dropping by -65.4% against the previous year. In general, the export price continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2019 when the average export price increased by 163%. The export price peaked at $X per unit in 2020, and then dropped significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Seychelles ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+93.8%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Appliances Imports

Imports into Azerbaijan

For the third year in a row, Azerbaijan recorded growth in purchases abroad of domestic appliances, which increased by 47% to X units in 2021. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 244%. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, domestic appliances imports soared to $X in 2021. Over the period under review, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 71%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Russia (X units), China (X units) and Turkey (X units) were the main suppliers of domestic appliances imports to Azerbaijan, together accounting for 57% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +35.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Russia ($X) and Turkey ($X) constituted the largest domestic appliances suppliers to Azerbaijan, with a combined 50% share of total imports.

In terms of the main suppliers, China, with a CAGR of +50.8%, 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 2021, the average domestic appliances import price amounted to $X per unit, picking up by 11% against the previous year. Over the period under review, the import price, however, recorded a perceptible downturn. The pace of growth was the most pronounced in 2018 an increase of 126% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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 Thailand ($X per unit), while the price for Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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