Azerbaijan: Leather Footwear Market 2024

Leather Footwear Market Size in Azerbaijan

The Azerbaijani leather footwear market expanded remarkably to $X in 2021, picking up by 7.7% against the previous year. Overall, consumption, however, recorded buoyant growth. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Leather Footwear Production in Azerbaijan

In value terms, leather footwear production expanded slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a deep setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 51%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Leather Footwear Exports

Exports from Azerbaijan

In 2021, overseas shipments of leather footwear decreased by -93.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports saw a abrupt decline. The pace of growth was the most pronounced in 2019 when exports increased by 3,626% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020, and then shrank sharply in the following year.

In value terms, leather footwear exports fell remarkably to $X in 2021. In general, exports faced a abrupt descent. The growth pace was the most rapid in 2019 with an increase of 1,354%. Over the period under review, the exports hit record highs at $X in 2020, and then reduced dramatically in the following year.

Exports by Country

Italy (X tons) was the main destination for leather footwear exports from Azerbaijan, accounting for a 68% share of total exports. Moreover, leather footwear exports to Italy exceeded the volume sent to the second major destination, Jordan (X kg), fourfold. The UK (X kg) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy stood at +124.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Jordan (-75.7% per year) and the UK (+19.9% per year).

In value terms, Italy ($X) emerged as the key foreign market for leather footwear exports from Azerbaijan, comprising 76% of total exports. The second position in the ranking was held by Germany ($X), with an 8% share of total exports. It was followed by Georgia, with a 2.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy totaled +64.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (0.0% per year) and Georgia (-9.4% per year).

Export Prices by Country

In 2021, the average leather footwear export price amounted to $X per kg, rising by 219% against the previous year. Overall, the export price continues to indicate a measured increase. The pace of growth was the most pronounced in 2018 an increase of 562% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+371.7%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into Azerbaijan

In 2021, supplies from abroad of leather footwear decreased by -11.2% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, recorded a buoyant increase. The growth pace was the most rapid in 2016 when imports increased by 431% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, leather footwear imports soared to $X in 2021. Overall, imports, however, showed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 881% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Turkey (X tons) and Iran (X tons) were the main suppliers of leather footwear imports to Azerbaijan, together accounting for 93% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of +62.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Turkey ($X) and Italy ($X) constituted the largest leather footwear suppliers to Azerbaijan, with a combined 83% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +58.8%, recorded 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 leather footwear import price amounted to $X per kg, growing by 32% against the previous year. In general, import price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, leather footwear import price increased by +48.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 85%. As a result, import price attained the peak level of $X per kg. From 2017 to 2021, the average 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 Italy ($X per kg), while the price for Iran ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform