Azerbaijan: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Azerbaijan

In 2021, the Azerbaijani market for instruments for measuring electrical quantities decreased by -30.3% to $X, falling for the second consecutive year after four years of growth. Over the period under review, consumption, however, showed a strong expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Exports of Instruments for Measuring Electrical Quantities

Exports from Azerbaijan

In 2021, the amount of instruments for measuring electrical quantities exported from Azerbaijan soared to X units, rising by 81% on the previous year's figure. In general, exports, however, continue to indicate a abrupt shrinkage. The growth pace was the most rapid in 2019 when exports increased by 228% against the previous year. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, instruments for measuring electrical quantities exports dropped markedly to $X in 2021. Overall, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2018 with an increase of 3,018% against the previous year. Over the period under review, the exports hit record highs at $X in 2020, and then fell remarkably in the following year.

Exports by Country

Turkey (X units), the UK (X units) and Luxembourg (X units) were the main destinations of instruments for measuring electrical quantities exports from Azerbaijan, together comprising 95% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Luxembourg (with a CAGR of +42.6%), while the other leaders experienced a decline.

In value terms, the UK ($X), Turkey ($X) and Germany ($X) were the largest markets for instruments for measuring electrical quantities exported from Azerbaijan worldwide, together comprising 76% of total exports. These countries were followed by Luxembourg, which accounted for a further 4.1%.

Luxembourg, with a CAGR of +59.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, with a decrease of -95.2% against the previous year. In general, the export price, however, posted a pronounced expansion. The pace of growth appeared the most rapid in 2018 an increase of 1,885%. The export price peaked at $X per unit in 2020, and then dropped rapidly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per unit), while the average price for exports to Luxembourg ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+25.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Azerbaijan

In 2021, overseas purchases of instruments for measuring electrical quantities decreased by -31.2% to X units, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 177%. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, instruments for measuring electrical quantities imports dropped to $X in 2021. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2016 when imports increased by 28%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X units), China (X units) and the Czech Republic (X units) were the main suppliers of instruments for measuring electrical quantities imports to Azerbaijan, with a combined 51% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (with a CAGR of +136.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), China ($X) and the United States ($X) were the largest instruments for measuring electrical quantities suppliers to Azerbaijan, together comprising 42% of total imports. These countries were followed by the United Arab Emirates, Taiwan (Chinese), the Czech Republic, Turkey, Russia, Ukraine and India, which together accounted for a further 30%.

Among the main suppliers, India, with a CAGR of +64.7%, 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 import price for instruments for measuring electrical quantities amounted to $X per unit, surging by 28% against the previous year. In general, the import price, however, continues to indicate a precipitous slump. The most prominent rate of growth was recorded in 2013 an increase of 66% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 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, the country with the highest price was the UK ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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