Azerbaijan: Women Knitwear Market 2024

Women Knitwear Market Size in Azerbaijan

The Azerbaijani women knitwear market rose significantly to $X in 2022, picking up by 7.1% against the previous year. In general, consumption continues to indicate a significant increase. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Women Knitwear Production in Azerbaijan

In value terms, women knitwear production reached $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The growth pace was the most rapid in 2013 with an increase of 82% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Women Knitwear Exports

Exports from Azerbaijan

In 2022, approx. X units of women's or girls' clothing (knitted or crocheted) were exported from Azerbaijan; which is down by -87.1% compared with 2021 figures. Overall, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 4,051% against the previous year. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, women knitwear exports rose notably to $X in 2022. Over the period under review, exports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 1,353% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X units) was the main destination for women knitwear exports from Azerbaijan, with a 62% share of total exports. Moreover, women knitwear exports to Italy exceeded the volume sent to the second major destination, Turkey (X units), twofold. The third position in this ranking was taken by Russia (X units), with a 6% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at +17.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+53.9% per year) and Russia (-30.2% per year).

In value terms, the largest markets for women knitwear exported from Azerbaijan were Russia ($X), Italy ($X) and Spain ($X), with a combined 90% share of total exports.

Italy, with a CAGR of +37.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average women knitwear export price amounted to $X per unit, jumping by 769% against the previous year. Over the period under review, the export price showed significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+54.0%), while the prices for the other major destinations experienced mixed trend patterns.

Women Knitwear Imports

Imports into Azerbaijan

In 2022, approx. X units of women's or girls' clothing (knitted or crocheted) were imported into Azerbaijan; picking up by 6.1% against 2021 figures. In general, imports recorded a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 9,330%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, women knitwear imports rose rapidly to $X in 2022. Overall, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 5,603%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

Imports by Country

China (X units), Turkey (X units) and Bangladesh (X units) were the main suppliers of women knitwear imports to Azerbaijan, with a combined 96% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bangladesh (with a CAGR of +146.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and Bangladesh ($X) were the largest women knitwear suppliers to Azerbaijan, together comprising 86% of total imports.

Among the main suppliers, Bangladesh, with a CAGR of +126.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average women knitwear import price stood at $X per unit in 2022, growing by 6.2% against the previous year. In general, the import price, however, saw a deep slump. The pace of growth was the most pronounced in 2020 when the average import price increased by 19%. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+8.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :