Azerbaijan: Market for Upholstered Seats With Wooden Frames 2024

Market Size for Upholstered Seats With Wooden Frames in Azerbaijan

The Azerbaijani wooden frame upholstered seat market surged to $X in 2022, growing by 35% 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 posted a strong expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Exports of Upholstered Seats With Wooden Frames

Exports from Azerbaijan

In 2022, exports of upholstered seats with wooden frames from Azerbaijan contracted rapidly to X units, with a decrease of -63.4% compared with the previous year. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 1,990%. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, wooden frame upholstered seat exports shrank markedly to $X in 2022. Over the period under review, exports, however, showed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 2,308%. Over the period under review, the exports hit record highs at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

The United States (X units) was the main destination for wooden frame upholstered seat exports from Azerbaijan, accounting for a 61% share of total exports. Moreover, wooden frame upholstered seat exports to the United States exceeded the volume sent to the second major destination, Kazakhstan (X units), fivefold. Tajikistan (X units) ranked third in terms of total exports with an 11% share.

From 2013 to 2022, the average annual growth rate of volume to the United States amounted to +208.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (+95.6% per year) and Tajikistan (-37.0% per year).

In value terms, the largest markets for wooden frame upholstered seat exported from Azerbaijan were the United States ($X), Kazakhstan ($X) and Tajikistan ($X), together comprising 90% of total exports.

Among the main countries of destination, Kazakhstan, with a CAGR of +249.7%, recorded the highest growth rate of 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 wooden frame upholstered seat export price stood at $X per unit in 2022, jumping by 80% against the previous year. Overall, the export price posted prominent growth. The growth pace was the most rapid in 2019 an increase of 127%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per unit), while the average price for exports to Georgia ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+78.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Upholstered Seats With Wooden Frames

Imports into Azerbaijan

In 2022, wooden frame upholstered seat imports into Azerbaijan skyrocketed to X units, with an increase of 39% on the previous year. In general, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.3% against 2019 indices. The pace of growth was the most pronounced in 2019 when imports increased by 64% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, wooden frame upholstered seat imports skyrocketed to $X in 2022. Over the period under review, imports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 162% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Turkey (X units) constituted the largest supplier of wooden frame upholstered seat to Azerbaijan, with a 67% share of total imports. Moreover, wooden frame upholstered seat imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Russia (X units), with an 8.2% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.3% per year) and Russia (+58.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of upholstered seats with wooden frames to Azerbaijan, comprising 61% of total imports. The second position in the ranking was taken by Italy ($X), with a 27% share of total imports. It was followed by China, with a 5% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +20.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+53.5% per year) and China (+14.5% per year).

Import Prices by Country

The average wooden frame upholstered seat import price stood at $X per unit in 2022, which is down by -10.5% against the previous year. In general, the import price, however, continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 when the average import price increased by 162% against the previous year. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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