Azerbaijan: Market for Leather of Bovine and Equine Animals 2024

Market Size for Leather of Bovine and Equine Animals in Azerbaijan

The Azerbaijani bovine and equine leather market shrank to $X in 2021, declining by -12.3% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Bovine and equine leather consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Leather of Bovine and Equine Animals in Azerbaijan

In value terms, bovine and equine leather production amounted to $X in 2021 estimated in export price. Overall, production, however, showed a mild downturn. The pace of growth was the most pronounced in 2014 when the production volume increased by 42% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Leather of Bovine and Equine Animals

Exports from Azerbaijan

In 2021, after two years of decline, there was significant growth in shipments abroad of leather of bovine and equine animals, when their volume increased by 47% to X tons. In general, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 65%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, bovine and equine leather exports skyrocketed to $X in 2021. Over the period under review, exports posted tangible growth. The pace of growth was the most pronounced in 2014 when exports increased by 91% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for bovine and equine leather exports from Azerbaijan, with a 90% share of total exports. Moreover, bovine and equine leather exports to Turkey exceeded the volume sent to the second major destination, Ukraine (X tons), more than tenfold. India (X tons) ranked third in terms of total exports with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled -6.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+51.6% per year) and India (-4.0% per year).

In value terms, Turkey ($X) remains the key foreign market for leather of bovine and equine animals exports from Azerbaijan, comprising 92% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 3.9% share of total exports. It was followed by India, with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at +2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+49.7% per year) and India (-0.8% per year).

Export Prices by Country

In 2021, the average bovine and equine leather export price amounted to $X per ton, picking up by 13% against the previous year. Over the period under review, the export price showed resilient growth. The pace of growth was the most pronounced in 2017 an increase of 119% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to China ($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 Turkey (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Leather of Bovine and Equine Animals

Imports into Azerbaijan

In 2021, supplies from abroad of leather of bovine and equine animals was finally on the rise to reach X tons after two years of decline. In general, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 550%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, bovine and equine leather imports skyrocketed to $X in 2021. Overall, imports saw a significant increase. The growth pace was the most rapid in 2013 with an increase of 861%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Iran (X tons) constituted the largest bovine and equine leather supplier to Azerbaijan, accounting for a 79% share of total imports. Moreover, bovine and equine leather imports from Iran exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Iran totaled -3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+31.8% per year) and Russia (-66.2% per year).

In value terms, the largest bovine and equine leather suppliers to Azerbaijan were Iran ($X), Turkey ($X) and Russia ($X), together comprising 100% of total imports.

Turkey, with a CAGR of +27.3%, saw 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 mixed trend patterns.

Import Prices by Country

The average bovine and equine leather import price stood at $X per ton in 2021, standing approx. at the previous year. Over the period under review, the import price showed a abrupt decrease. The pace of growth was the most pronounced in 2014 an increase of 245%. As a result, import price reached the peak level of $X per ton. From 2015 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, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+47.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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