Azerbaijan: Natural Stone Sett Market 2024

Natural Stone Sett Market Size in Azerbaijan

The Azerbaijani natural stone sett market dropped to $X in 2022, waning by -1.6% against the previous year. Overall, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.1% against 2020 indices. Natural stone sett consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Natural Stone Sett Production in Azerbaijan

In value terms, natural stone sett production contracted slightly to $X in 2022 estimated in export price. Overall, production, however, showed a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 73% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Natural Stone Sett Exports

Exports from Azerbaijan

In 2018, after two years of growth, there was significant decline in overseas shipments of natural stone setts, kerbstones and flagstones, when their volume decreased by -86% to X tons. In general, exports, however, recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 219,870% against the previous year. As a result, the exports attained the peak of X tons, and then contracted dramatically in the following year.

In value terms, natural stone sett exports dropped sharply to $X in 2018. Overall, exports, however, showed a significant increase. The growth pace was the most rapid in 2017 with an increase of 117,621% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

Turkmenistan (X tons) was the main destination for natural stone sett exports from Azerbaijan, with a approx. 99.9% share of total exports.

From 2016 to 2018, the average annual growth rate of volume to Turkmenistan amounted to -86.0%.

In value terms, Turkmenistan ($X) also remains the key foreign market for natural stone setts, kerbstones and flagstones exports from Azerbaijan.

From 2016 to 2018, the average annual growth rate of value to Turkmenistan stood at -91.3%.

Export Prices by Country

The average natural stone sett export price stood at $X per ton in 2018, waning by -38.3% against the previous year. Overall, the export price faced a significant contraction. The export price peaked at $X per ton in 2016; however, from 2017 to 2018, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Turkmenistan.

From 2016 to 2018, the rate of growth in terms of prices for Turkmenistan amounted to -38.5% per year.

Natural Stone Sett Imports

Imports into Azerbaijan

Natural stone sett imports into Azerbaijan surged to X tons in 2022, jumping by 51% on 2021. In general, imports, however, saw a sharp reduction. The growth pace was the most rapid in 2019 when imports increased by 316%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, natural stone sett imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a significant curtailment. The pace of growth was the most pronounced in 2015 with an increase of 348% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Iran (X tons) constituted the largest supplier of natural stone sett to Azerbaijan, accounting for a 57% share of total imports. Moreover, natural stone sett imports from Iran exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. The third position in this ranking was held by Portugal (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Iran totaled +25.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-4.6% per year) and Portugal (+41.0% per year).

In value terms, Iran ($X) constituted the largest supplier of natural stone setts, kerbstones and flagstones to Azerbaijan, comprising 55% of total imports. The second position in the ranking was held by Portugal ($X), with a 15% share of total imports. It was followed by Italy, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Iran stood at +36.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (+27.2% per year) and Italy (-6.0% per year).

Import Prices by Country

In 2022, the average natural stone sett import price amounted to $X per ton, shrinking by -18.9% against the previous year. Overall, the import price recorded a mild curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 34%. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then dropped rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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