Azerbaijan: Ether Market 2024

Ether Market Size in Azerbaijan

The Azerbaijani ether market totaled $X in 2022, growing by 10% against the previous year. In general, consumption, however, continues to indicate a pronounced decrease. Ether consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Ether Production in Azerbaijan

In value terms, ether production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a slight curtailment. The pace of growth was the most pronounced in 2020 with an increase of 67%. Ether production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Ether Exports

Exports from Azerbaijan

In 2022, the amount of ethers exported from Azerbaijan reduced sharply to X tons, dropping by -38.9% against the previous year. Over the period under review, exports recorded a perceptible descent. The pace of growth was the most pronounced in 2021 when exports increased by 767% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, ether exports declined modestly to $X in 2022. In general, exports saw a pronounced curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 288% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for ether exports from Azerbaijan, with a 88% share of total exports. Moreover, ether exports to India exceeded the volume sent to the second major destination, Turkey (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +10.5%.

In value terms, India ($X) emerged as the key foreign market for ethers exports from Azerbaijan, comprising 83% of total exports. The second position in the ranking was held by Turkey ($X), with a 9.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value to India amounted to +23.4%.

Export Prices by Country

The average ether export price stood at $X per ton in 2022, increasing by 56% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by 98% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Turkey stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+18.3%), while the prices for the other major destinations experienced mixed trend patterns.

Ether Imports

Imports into Azerbaijan

In 2022, imports of ethers into Azerbaijan fell sharply to X tons, shrinking by -24.3% against the previous year's figure. Overall, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 112%. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, ether imports declined to $X in 2022. Over the period under review, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when imports increased by 156% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), the Netherlands (X tons) and Saudi Arabia (X tons) were the main suppliers of ether imports to Azerbaijan, together comprising 74% of total imports. Germany, Turkey, France, China and the UK lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +77.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), the Netherlands ($X) and Germany ($X) were the largest ether suppliers to Azerbaijan, together comprising 79% of total imports.

Among the main suppliers, Germany, with a CAGR of +75.9%, 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

The average ether import price stood at $X per ton in 2022, picking up by 21% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ether import price increased by +32.3% against 2020 indices. The growth pace was the most rapid in 2018 an increase of 48%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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