Azerbaijan: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Azerbaijan

In 2022, after three years of growth, there was significant decline in the Azerbaijani industrial sewing machine market, when its value decreased by -13.7% to $X. In general, consumption continues to indicate a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Industrial Sewing Machine Production in Azerbaijan

In value terms, industrial sewing machine production declined slightly to $X in 2022 estimated in export price. Overall, production, however, faced a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 2%. Industrial sewing machine production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Industrial Sewing Machine Exports

Exports from Azerbaijan

In 2022, approx. X units of industrial sewing machines were exported from Azerbaijan; rising by 36% on the previous year's figure. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by 255% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, industrial sewing machine exports contracted sharply to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by 299% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then shrank rapidly in the following year.

Exports by Country

Georgia (X units) was the main destination for industrial sewing machine exports from Azerbaijan, accounting for a 91% share of total exports. Moreover, industrial sewing machine exports to Georgia exceeded the volume sent to the second major destination, Turkey (X units), more than tenfold. Russia (X units) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume to Georgia totaled +47.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+26.0% per year) and Russia (-18.8% per year).

In value terms, Georgia ($X) emerged as the key foreign market for industrial sewing machines exports from Azerbaijan, comprising 67% of total exports. The second position in the ranking was held by Iran ($X), with a 23% share of total exports. It was followed by Russia, with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia stood at +74.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+0.4% per year) and Russia (-14.8% per year).

Export Prices by Country

The average industrial sewing machine export price stood at $X per unit in 2022, with a decrease of -67.1% against the previous year. In general, the export price showed a abrupt downturn. The pace of growth appeared the most rapid in 2019 an increase of 89% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+56.6%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Sewing Machine Imports

Imports into Azerbaijan

In 2022, overseas purchases of industrial sewing machines decreased by -32.1% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed a significant increase. The growth pace was the most rapid in 2016 when imports increased by 762%. Imports peaked at X units in 2021, and then contracted notably in the following year.

In value terms, industrial sewing machine imports expanded markedly to $X in 2022. In general, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 214%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machine supplier to Azerbaijan, accounting for a 90% share of total imports. Moreover, industrial sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +135.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.4% per year) and Vietnam (+58.5% per year).

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to Azerbaijan, comprising 79% of total imports. The second position in the ranking was held by Turkey ($X), with a 10% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +132.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+18.5% per year) and Vietnam (+26.9% per year).

Import Prices by Country

In 2022, the average industrial sewing machine import price amounted to $X per unit, picking up by 57% against the previous year. Overall, the import price, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when the average import price increased by 143% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a 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 Turkey ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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