Azerbaijan: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in Azerbaijan

The Azerbaijani optical radiation instruments market surged to $X in 2022, with an increase of 80% 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). In general, consumption continues to indicate a temperate expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Optical Radiation Instruments Exports

Exports from Azerbaijan

In 2022, the amount of instruments using optical radiations exported from Azerbaijan reduced remarkably to X units, shrinking by -24.6% on the previous year. Overall, exports saw a precipitous decline. The pace of growth was the most pronounced in 2021 when exports increased by 6,400%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, optical radiation instruments exports expanded sharply to $X in 2022. Over the period under review, exports saw a dramatic curtailment. The growth pace was the most rapid in 2021 when exports increased by 6,593%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Georgia (X units) was the main destination for optical radiation instruments exports from Azerbaijan, with a 98% share of total exports. It was followed by Romania (X units), with a 2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Georgia totaled +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (0.0% per year) and Italy (0.0% per year).

In value terms, Georgia ($X) emerged as the key foreign market for instruments using optical radiations exports from Azerbaijan, comprising 99% of total exports. The second position in the ranking was held by Italy ($X), with a 0.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Georgia stood at +33.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+17.2% per year) and Romania (0.0% per year).

Export Prices by Country

The average optical radiation instruments export price stood at $X per unit in 2022, growing by 43% against the previous year. Over the period under review, the export price, however, recorded a mild setback. The most prominent rate of growth was recorded in 2020 when the average export price increased by 81% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Romania ($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 Italy (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Optical Radiation Instruments Imports

Imports into Azerbaijan

In 2022, the amount of instruments using optical radiations imported into Azerbaijan skyrocketed to X units, increasing by 88% on 2021. Over the period under review, imports saw buoyant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 104% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, optical radiation instruments imports soared to $X in 2022. Overall, imports continue to indicate a mild expansion. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Japan (X units), Switzerland (X units) and the United States (X units) were the main suppliers of optical radiation instruments imports to Azerbaijan, with a combined 74% share of total imports. China, Spain, Germany and Austria lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +44.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Japan ($X) and China ($X) appeared to be the largest optical radiation instruments suppliers to Azerbaijan, together accounting for 75% of total imports. Switzerland, Germany, Spain and Austria lagged somewhat behind, together comprising a further 17%.

Spain, with a CAGR of +36.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average optical radiation instruments import price stood at $X per unit in 2022, reducing by -8.1% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by 58%. Over the period under review, average import prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat 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 the United States ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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