Azerbaijan: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Azerbaijan

In 2021, the Azerbaijani machine-tool for working wood market decreased by -6.6% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption showed a significant curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Exports of Machine-Tools For Working Wood

Exports from Azerbaijan

In 2021, overseas shipments of machine-tools for working wood decreased by -20.2% to X tons for the first time since 2017, thus ending a three-year rising trend. Over the period under review, exports, however, showed a tangible expansion. The most prominent rate of growth was recorded in 2019 with an increase of 702%. Over the period under review, the exports attained the peak figure at X tons in 2020, and then contracted markedly in the following year.

In value terms, machine-tool for working wood exports skyrocketed to $X in 2021. In general, exports, however, saw moderate growth. The pace of growth appeared the most rapid in 2019 when exports increased by 370%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Iran (X tons) was the main destination for machine-tool for working wood exports from Azerbaijan, with a 66% share of total exports. Moreover, machine-tool for working wood exports to Iran exceeded the volume sent to the second major destination, Russia (X kg), fivefold. Turkey (X kg) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran amounted to +31.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+7.4% per year) and Turkey (-89.4% per year).

In value terms, Turkey ($X) remains the key foreign market for machine-tools for working wood exports from Azerbaijan, comprising 40% of total exports. The second position in the ranking was taken by Iran ($X), with a 12% share of total exports. It was followed by Georgia, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled -19.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+10.7% per year) and Georgia (-15.6% per year).

Export Prices by Country

The average machine-tool for working wood export price stood at $X per ton in 2021, growing by 57% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Iran ($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 (+659.2%), while the prices for the other major destinations experienced a decline.

Imports of Machine-Tools For Working Wood

Imports into Azerbaijan

In 2021, overseas purchases of machine-tools for working wood decreased by -9.4% to X tons, falling for the third consecutive year after two years of growth. Overall, imports continue to indicate a precipitous descent. The pace of growth appeared the most rapid in 2014 with an increase of 76% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working wood imports declined to $X in 2021. Over the period under review, imports faced a abrupt contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 197% against the previous year. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of machine-tool for working wood imports to Azerbaijan, together accounting for 78% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +2.6%), while purchases for the other leaders experienced a decline.

In value terms, Turkey ($X) constituted the largest supplier of machine-tools for working wood to Azerbaijan, comprising 39% of total imports. The second position in the ranking was held by China ($X), with a 19% share of total imports. It was followed by Germany, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled -17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-11.4% per year) and Germany (-11.0% per year).

Import Prices by Country

The average machine-tool for working wood import price stood at $X per ton in 2021, rising by 4.5% against the previous year. Overall, the import price continues to indicate significant growth. The pace of growth appeared the most rapid in 2016 an increase of 119% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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 Italy ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+25.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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