Azerbaijan: Spectacles And Goggles Market 2024

Spectacles And Goggles Market Size in Azerbaijan

The Azerbaijani spectacles and goggles market dropped sharply to $X in 2021, with a decrease of -22.5% 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). In general, consumption, however, posted a significant increase. Spectacles and goggles consumption peaked at $X in 2020, and then contracted significantly in the following year.

Spectacles And Goggles Exports

Exports from Azerbaijan

After two years of growth, shipments abroad of spectacles and goggles decreased by -2.9% to X units in 2021. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 4,400% against the previous year. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, spectacles and goggles exports skyrocketed to $X in 2021. In general, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 3,867%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Russia (X units) was the main destination for spectacles and goggles exports from Azerbaijan, accounting for a 78% share of total exports. Moreover, spectacles and goggles exports to Russia exceeded the volume sent to the second major destination, Georgia (X units), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia was relatively modest.

In value terms, Russia ($X) emerged as the key foreign market for spectacles and goggles exports from Azerbaijan, comprising 82% of total exports. The second position in the ranking was taken by Georgia ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+88.9% per year) and the UK (-31.5% per year).

Export Prices by Country

In 2021, the average spectacles and goggles export price amounted to $X per unit, growing by 75% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, 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 UK ($X per unit), while the average price for exports to Georgia ($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 the UK (+7.5%), while the prices for the other major destinations experienced mixed trend patterns.

Spectacles And Goggles Imports

Imports into Azerbaijan

In 2021, imports of spectacles and goggles into Azerbaijan declined remarkably to X units, which is down by -18.9% compared with 2020. Overall, imports, however, recorded a significant increase. The growth pace was the most rapid in 2016 with an increase of 240% against the previous year. Over the period under review, imports attained the peak figure at X units in 2020, and then fell notably in the following year.

In value terms, spectacles and goggles imports reduced remarkably to $X in 2021. Over the period under review, imports, however, saw a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 132%. Over the period under review, imports reached the peak figure at $X in 2020, and then fell sharply in the following year.

Imports by Country

In 2021, China (X units) constituted the largest spectacles and goggles supplier to Azerbaijan, with a 83% share of total imports. Moreover, spectacles and goggles imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), tenfold. Turkey (X units) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +100.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+48.6% per year) and Turkey (+28.1% per year).

In value terms, China ($X) constituted the largest supplier of spectacles and goggles to Azerbaijan, comprising 56% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 22% share of total imports. It was followed by Turkey, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +62.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+46.1% per year) and Turkey (+13.5% per year).

Import Prices by Country

The average spectacles and goggles import price stood at $X per unit in 2021, with a decrease of -16.1% against the previous year. In general, the import price showed a abrupt setback. The pace of growth appeared the most rapid in 2019 when the average import price increased by 40%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+11.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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