Azerbaijan: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Azerbaijan

The Azerbaijani percussion musical instrument market surged to $X in 2022, jumping by 21% against the previous year. In general, consumption, however, saw a dramatic contraction. Percussion musical instrument consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Percussion Musical Instrument Production in Azerbaijan

In value terms, percussion musical instrument production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by 58%. Percussion musical instrument production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Percussion Musical Instrument Exports

Exports from Azerbaijan

In 2022, after two years of growth, there was significant decline in shipments abroad of percussion musical instruments, when their volume decreased by -40% to X units. Overall, exports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 192% against the previous year. As a result, the exports reached the peak of X units, and then dropped markedly in the following year.

In value terms, percussion musical instrument exports shrank notably to $X in 2022. In general, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2020 when exports increased by 336%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

New Zealand (X units), the UK (X units) and the United States (X units) were the main destinations of percussion musical instrument exports from Azerbaijan, with a combined 71% share of total exports.

From 2014 to 2022, the biggest increases were recorded for the United States (with a CAGR of +18.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for percussion musical instrument exported from Azerbaijan were the UK ($X), the United States ($X) and New Zealand ($X), together comprising 83% of total exports.

In terms of the main countries of destination, the United States, with a CAGR of +37.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average percussion musical instrument export price stood at $X per unit in 2022, rising by 17% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The most prominent rate of growth was recorded in 2020 an increase of 154%. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+15.7%), while the prices for the other major destinations experienced mixed trend patterns.

Percussion Musical Instrument Imports

Imports into Azerbaijan

In 2022, purchases abroad of percussion musical instruments was finally on the rise to reach X units after two years of decline. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 313%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, percussion musical instrument imports soared to $X in 2022. Over the period under review, imports posted significant growth. The pace of growth appeared the most rapid in 2015 with an increase of 1,074%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Turkey (X units) and Iran (X units) were the main suppliers of percussion musical instrument imports to Azerbaijan, together accounting for 98% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +75.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of percussion musical instruments to Azerbaijan, comprising 67% of total imports. The second position in the ranking was held by Turkey ($X), with a 7.2% share of total imports. It was followed by Iran, with a 6.2% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +65.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+83.7% per year) and Iran (+98.6% per year).

Import Prices by Country

The average percussion musical instrument import price stood at $X per unit in 2022, rising by 73% against the previous year. Overall, the import price continues to indicate a mild expansion. The growth pace was the most rapid in 2015 when the average import price increased by 184%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Thailand ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+239.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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