Azerbaijan: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Azerbaijan

In 2021, the Azerbaijani market for machines for preparing, weaving and knitting textiles decreased by -50.3% to $X, falling for the third year in a row after two years of growth. Overall, consumption, however, enjoyed temperate growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Azerbaijan

In 2021, overseas shipments of machines for preparing, weaving and knitting textiles increased by 33% to X units for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2018 when exports increased by 154%. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, textile weaving and knitting machinery exports amounted to $X in 2021. Overall, exports, however, faced a deep downturn. The growth pace was the most rapid in 2019 when exports increased by 85% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Uzbekistan (X units), Turkey (X units) and Georgia (X units) were the main destinations of textile weaving and knitting machinery exports from Azerbaijan, together accounting for 92% of total exports. Moreover, textile weaving and knitting machinery exports in Uzbekistan exceeded the figures recorded by the second-largest exporter, Turkey, twofold.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of 0.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Uzbekistan ($X) remains the key foreign market for machines for preparing, weaving and knitting textiles exports from Azerbaijan, comprising 81% of total exports. The second position in the ranking was held by Georgia ($X), with a 16% share of total exports. It was followed by Turkey, with a 1.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Uzbekistan totaled -16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-5.9% per year) and Turkey (-35.5% per year).

Export Prices by Country

In 2021, the average export price for machines for preparing, weaving and knitting textiles amounted to $X per unit, reducing by -20.4% against the previous year. Overall, the export price, however, showed a temperate increase. The growth pace was the most rapid in 2019 an increase of 150% against the previous year. The export price peaked at $X per unit in 2020, and then reduced markedly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+10.9%), while the prices for the other major destinations experienced a decline.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Azerbaijan

In 2021, supplies from abroad of machines for preparing, weaving and knitting textiles decreased by -42.3% to X units, falling for the third consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2014 when imports increased by 322%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, textile weaving and knitting machinery imports declined rapidly to $X in 2021. Overall, imports, however, saw a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by 503%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Turkey (X units) and India (X units) were the main suppliers of textile weaving and knitting machinery imports to Azerbaijan, together accounting for 60% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +44.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), India ($X) and China ($X) were the largest textile weaving and knitting machinery suppliers to Azerbaijan, together comprising 72% of total imports.

India, with a CAGR of +56.9%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2021, the average import price for machines for preparing, weaving and knitting textiles amounted to $X per unit, declining by -35.2% against the previous year. Over the period under review, the import price, however, saw a strong expansion. The pace of growth appeared the most rapid in 2016 when the average import price increased by 222%. The import price peaked at $X per unit in 2020, and then fell markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Slovenia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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