Azerbaijan: Illuminated Sign Market 2024

Illuminated Sign Market Size in Azerbaijan

The Azerbaijani illuminated sign market contracted remarkably to $X in 2021, reducing by -25.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a abrupt setback. Illuminated sign consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Illuminated Sign Exports

Exports from Azerbaijan

Illuminated sign exports from Azerbaijan reduced sharply to X kg in 2021, with a decrease of -71.2% against the previous year. Over the period under review, exports saw a precipitous decline. The most prominent rate of growth was recorded in 2019 when exports increased by 892% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, illuminated sign exports declined notably to $X in 2021. Overall, exports recorded a precipitous curtailment. The growth pace was the most rapid in 2019 when exports increased by 1,077% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Georgia (X kg), the UK (X kg) and Turkey (X kg) were the main destinations of illuminated sign exports from Azerbaijan, together comprising 80% of total exports. Moreover, illuminated sign exports in Georgia exceeded the figures recorded by the second-largest exporter, the UK, twofold.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +24.1%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for illuminated sign exported from Azerbaijan were Georgia ($X), the UK ($X) and Turkey ($X), together accounting for 90% of total exports.

Among the main countries of destination, the UK, with a CAGR of +39.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average illuminated sign export price stood at $X per ton in 2021, dropping by -42.3% against the previous year. Overall, the export price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 when the average export price increased by 42% against the previous year. As a result, the export price attained the peak level of $X per ton, and then fell dramatically in the following year.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (+33.5%), while the prices for the other major destinations experienced more modest paces of growth.

Illuminated Sign Imports

Imports into Azerbaijan

In 2021, approx. X tons of illuminated signs and illuminated name-plates were imported into Azerbaijan; which is down by -40.4% compared with the year before. Overall, imports recorded a abrupt decline. The growth pace was the most rapid in 2018 when imports increased by 142% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, illuminated sign imports declined to $X in 2021. Over the period under review, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2018 when imports increased by 202% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of illuminated sign to Azerbaijan, with a 51% share of total imports. Moreover, illuminated sign imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Russia (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey amounted to -11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.6% per year) and Russia (+12.8% per year).

In value terms, the largest illuminated sign suppliers to Azerbaijan were Turkey ($X), South Korea ($X) and China ($X), together accounting for 53% of total imports.

In terms of the main suppliers, South Korea, with a CAGR of +107.1%, saw the highest rates of growth with regard to 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 illuminated sign import price amounted to $X per ton, surging by 47% against the previous year. Overall, import price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, illuminated sign import price increased by +65.3% against 2017 indices. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 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 South Korea ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+33.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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