Azerbaijan: Loudspeaker Market 2024

Loudspeaker Market Size in Azerbaijan

The Azerbaijani loudspeaker market soared to $X in 2022, picking up by 21% 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 posted a significant increase. Loudspeaker consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Loudspeaker Exports

Exports from Azerbaijan

In 2022, the amount of loudspeakers exported from Azerbaijan skyrocketed to X units, rising by 143% compared with 2021. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 2,600%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, loudspeaker exports surged to $X in 2022. Over the period under review, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 21,000% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

Exports by Country

Georgia (X units), the Netherlands (X units) and the Czech Republic (X units) were the main destinations of loudspeaker exports from Azerbaijan, with a combined 89% share of total exports. Australia and Russia lagged somewhat behind, together accounting for a further 3.9%.

From 2013 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of +67.3%), while the other leaders experienced more modest paces of growth.

In value terms, Georgia ($X) remains the key foreign market for loudspeakers exports from Azerbaijan, comprising 86% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 4.8% share of total exports. It was followed by the Czech Republic, with a 1.5% share.

From 2013 to 2022, the average annual growth rate of value to Georgia amounted to +95.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+58.7% per year) and the Czech Republic (+32.3% per year).

Export Prices by Country

In 2022, the average loudspeaker export price amounted to $X per unit, which is down by -38.7% against the previous year. Overall, the export price, however, showed prominent growth. The growth pace was the most rapid in 2016 an increase of 681%. The export price peaked at $X per unit in 2021, and then shrank notably in the following year.

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

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (+47.1%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Azerbaijan

In 2022, approx. X units of loudspeakers were imported into Azerbaijan; jumping by 22% compared with the previous year. Overall, imports recorded significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 465%. Imports peaked at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, loudspeaker imports skyrocketed to $X in 2022. Over the period under review, imports showed a significant expansion. The growth pace was the most rapid in 2015 with an increase of 546% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main supplier of loudspeaker to Azerbaijan, with a 91% share of total imports. Moreover, loudspeaker imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), more than tenfold. Turkey (X units) ranked third in terms of total imports with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +66.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+203.7% per year) and Turkey (+3.7% per year).

In value terms, China ($X) constituted the largest supplier of loudspeakers to Azerbaijan, comprising 73% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.4% share of total imports. It was followed by Turkey, with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +86.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+214.6% per year) and Turkey (-6.5% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2022, falling by -5.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2019 an increase of 64%. Over the period under review, average import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, 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 the United Arab Emirates ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+12.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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