Azerbaijan: Market for Granite, Sandstone And Other Building Stone 2022

Market Size for Granite, Sandstone And Other Building Stone in Azerbaijan

In 2021, the Azerbaijani market for granite, sandstone and other building stone increased by 51% to $X, rising for the second consecutive year after three years of decline. In general, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +71.9% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Granite, Sandstone And Other Building Stone

Exports from Azerbaijan

In 2021, approx. X tons of granite, sandstone and other building stone were exported from Azerbaijan; growing by 5.8% on 2020. Overall, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 14%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, exports of granite, sandstone and other building stone expanded to $X in 2021. Over the period under review, exports, however, saw a deep downturn. The growth pace was the most rapid in 2019 with an increase of 81% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Georgia (X tons) and Russia (X tons) were the main destinations of exports of granite, sandstone and other building stone from Azerbaijan.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of -5.0%).

In value terms, Georgia ($X) remains the key foreign market for granite, sandstone and other building stone exports from Azerbaijan, comprising 88% of total exports. The second position in the ranking was held by Russia ($X), with a 9.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Georgia stood at +8.6%.

Export Prices by Country

The average export price for granite, sandstone and other building stone stood at $X per ton in 2021, reducing by -3.7% against the previous year. Overall, the export price, however, recorded prominent growth. The growth pace was the most rapid in 2019 when the average export price increased by 60% against the previous year. The export price peaked at $X per ton in 2020, and then dropped slightly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Georgia ($X per ton), while the average price for exports to Russia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+14.4%).

Imports of Granite, Sandstone And Other Building Stone

Imports into Azerbaijan

In 2021, after four years of decline, there was significant growth in supplies from abroad of granite, sandstone and other building stone, when their volume increased by 68% to X tons. Overall, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports of reached the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of granite, sandstone and other building stone surged to $X in 2021. In general, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.6% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest granite, sandstone and other building stone supplier to Azerbaijan, with a 51% share of total imports. Moreover, imports of granite, sandstone and other building stone from Ukraine exceeded the figures recorded by the second-largest supplier, Zimbabwe (X tons), threefold. China (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ukraine stood at -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Zimbabwe (+179.0% per year) and China (+10.7% per year).

In value terms, Ukraine ($X) constituted the largest supplier of granite, sandstone and other building stone to Azerbaijan, comprising 61% of total imports. The second position in the ranking was held by Zimbabwe ($X), with a 15% share of total imports. It was followed by Russia, with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Ukraine amounted to +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Zimbabwe (+154.4% per year) and Russia (+7.3% per year).

Import Prices by Country

In 2021, the average import price for granite, sandstone and other building stone amounted to $X per ton, dropping by -12.9% against the previous year. In general, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for granite, sandstone and other building stone increased by +87.0% against 2015 indices. The pace of growth was the most pronounced in 2020 an increase of 26%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably country of origin: the country with the highest price was India ($X per ton), while the price for Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+4.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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