Azerbaijan: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in Azerbaijan

In 2021, the Azerbaijani lathe for removing metal market decreased by -64.8% to $X, falling for the second year in a row after two years of growth. In general, consumption faced a precipitous curtailment. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Exports of Lathes For Removing Metal

Exports from Azerbaijan

In 2021, shipments abroad of lathes for removing metal decreased by -30% to X units for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 400%. As a result, the exports reached the peak of X units, and then declined notably in the following year.

In value terms, lathe for removing metal exports skyrocketed to $X in 2021. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 1,159% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iran (X units) was the main destination for lathe for removing metal exports from Azerbaijan, accounting for a 71% share of total exports. Moreover, lathe for removing metal exports to Iran exceeded the volume sent to the second major destination, Iraq (X units), threefold.

From 2013 to 2021, the average annual growth rate of volume to Iran totaled +10.8%.

In value terms, Iraq ($X) emerged as the key foreign market for lathes for removing metal exports from Azerbaijan, comprising 72% of total exports. The second position in the ranking was taken by Iran ($X), with a 28% share of total exports.

From 2013 to 2021, the average annual growth rate of value to Iraq totaled -14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+17.5% per year) and Russia (-91.4% per year).

Export Prices by Country

In 2021, the average lathe for removing metal export price amounted to $X per unit, picking up by 375% against the previous year. Over the period under review, the export price showed a significant expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 1,159% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

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

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+11.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Lathes For Removing Metal

Imports into Azerbaijan

In 2021, supplies from abroad of lathes for removing metal decreased by -60.4% to X units, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2019 with an increase of 123%. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, lathe for removing metal imports shrank dramatically to $X in 2021. In general, imports continue to indicate a sharp downturn. The growth pace was the most rapid in 2020 with an increase of 190% against the previous year. Over the period under review, lafor removing metal imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest lathe for removing metal supplier to Azerbaijan, accounting for a 45% share of total imports. Moreover, lathe for removing metal imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), threefold. Russia (X units) 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 China amounted to -24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-24.0% per year) and Russia (-18.5% per year).

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of lathes for removing metal to Azerbaijan, comprising 38% of total imports. The second position in the ranking was taken by China ($X), with a 17% share of total imports. It was followed by Turkey, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value from Taiwan (Chinese) amounted to -25.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-30.1% per year) and Turkey (-0.6% per year).

Import Prices by Country

In 2021, the average lathe for removing metal import price amounted to $X per unit, waning by -44.1% against the previous year. In general, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 290%. The import price peaked at $X per unit in 2014; however, from 2015 to 2021, import prices stood at a somewhat 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 Taiwan (Chinese) ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+30.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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