Azerbaijan: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in Azerbaijan

The Azerbaijani machine-tool for drilling market was finally on the rise to reach $X in 2022, after two years of decline. Over the period under review, consumption, however, showed a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Machine-Tool For Drilling Exports

Exports from Azerbaijan

In 2022, approx. X units of machine-tools for drilling, boring or milling metal were exported from Azerbaijan; waning by -33.3% compared with the previous year's figure. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 1,900%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machine-tool for drilling exports shrank significantly to $X in 2022. Over the period under review, exports, however, saw significant growth. The growth pace was the most rapid in 2013 with an increase of 2,796% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Iran (X units) was the main destination for machine-tool for drilling exports from Azerbaijan, accounting for a 75% share of total exports. Moreover, machine-tool for drilling exports to Iran exceeded the volume sent to the second major destination, Georgia (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Iran totaled +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (0.0% per year) and Kazakhstan (0.0% per year).

In value terms, Iran ($X) emerged as the key foreign market for machine-tools for drilling, boring or milling metal exports from Azerbaijan, comprising 53% of total exports. The second position in the ranking was held by Georgia ($X), with a 26% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran totaled +51.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+49.3% per year) and Kazakhstan (-7.8% per year).

Export Prices by Country

In 2022, the average machine-tool for drilling export price amounted to $X per unit, declining by -59.6% against the previous year. Over the period under review, the export price, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2017 an increase of 979%. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Kazakhstan ($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 Iran (+26.5%), while the prices for the other major destinations experienced a decline.

Machine-Tool For Drilling Imports

Imports into Azerbaijan

In 2022, purchases abroad of machine-tools for drilling, boring or milling metal was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 244% against the previous year. Over the period under review, imports hit record highs at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, machine-tool for drilling imports skyrocketed to $X in 2022. Overall, imports, however, saw a sharp curtailment. The pace of growth was the most pronounced in 2018 with an increase of 61% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Singapore (X units) constituted the largest machine-tool for drilling supplier to Azerbaijan, with a 59% share of total imports. Moreover, machine-tool for drilling imports from Singapore exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. The third position in this ranking was taken by China (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore stood at -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-15.7% per year) and China (+3.7% per year).

In value terms, China ($X) constituted the largest supplier of machine-tools for drilling, boring or milling metal to Azerbaijan, comprising 45% of total imports. The second position in the ranking was taken by Turkey ($X), with a 14% share of total imports. It was followed by Taiwan (Chinese), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-23.5% per year) and Taiwan (Chinese) (-25.6% per year).

Import Prices by Country

In 2022, the average machine-tool for drilling import price amounted to $X per unit, increasing by 2.5% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 265% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average 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 Taiwan (Chinese) ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+48.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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