Azerbaijan: Medicaments Containing Vitamins Market 2024

Medicaments Containing Vitamins Market Size in Azerbaijan

The Azerbaijani medicaments containing vitamins market soared to $X in 2021, rising by 27% 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). Over the period under review, consumption showed a significant expansion. Over the period under review, the market attained the maximum level in 2021 and is likely to see gradual growth in the immediate term.

Medicaments Containing Vitamins Exports

Exports from Azerbaijan

In 2021, shipments abroad of medicaments containing vitamins and provitamins decreased by -15% to X kg, falling for the third year in a row after five years of growth. Over the period under review, exports saw a sharp decrease. The pace of growth appeared the most rapid in 2014 with an increase of 99%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, medicaments containing vitamins exports soared to $X in 2021. Overall, exports faced a deep reduction. The pace of growth appeared the most rapid in 2014 with an increase of 71%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Georgia (X kg) was the main destination for medicaments containing vitamins exports from Azerbaijan, with a 90% share of total exports. Moreover, medicaments containing vitamins exports to Georgia exceeded the volume sent to the second major destination, Hong Kong SAR (X kg), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Georgia amounted to -22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-59.2% per year) and Ukraine (0.0% per year).

In value terms, Georgia ($X) remains the key foreign market for medicaments containing vitamins and provitamins exports from Azerbaijan, comprising 71% of total exports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Georgia totaled -19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (+15.0% per year) and Ukraine (0.0% per year).

Export Prices by Country

The average medicaments containing vitamins export price stood at $X per ton in 2021, with an increase of 62% against the previous year. Over the period under review, the export price posted a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Georgia ($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 Hong Kong SAR (+181.7%).

Medicaments Containing Vitamins Imports

Imports into Azerbaijan

In 2021, purchases abroad of medicaments containing vitamins and provitamins increased by 27% to X tons, rising for the second consecutive year after two years of decline. Overall, imports recorded a significant expansion. The pace of growth was the most pronounced in 2015 with an increase of 711% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, medicaments containing vitamins imports surged to $X in 2021. Over the period under review, imports posted a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 911%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

France (X tons), China (X tons) and Russia (X tons) were the main suppliers of medicaments containing vitamins imports to Azerbaijan, with a combined 40% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by France (with a CAGR of +133.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and France ($X) appeared to be the largest medicaments containing vitamins suppliers to Azerbaijan, together comprising 36% of total imports. These countries were followed by Russia, Slovenia, China, Canada, Belarus, Kazakhstan, India and the Netherlands, which together accounted for a further 19%.

China, with a CAGR of +167.2%, saw the highest rates of growth with regard to the value of imports, among 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 medicaments containing vitamins import price amounted to $X per ton, remaining stable against the previous year. Overall, the import price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 49%. The import price peaked at $X per ton in 2020, and then contracted slightly in the following year.

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 Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+35.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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