Azerbaijan: Wooden Office Furniture Market 2024

Wooden Office Furniture Market Size in Azerbaijan

For the third consecutive year, the Azerbaijani wooden office furniture market recorded decline in sales value, which decreased by -12.8% to $X in 2021. Overall, consumption, however, saw a abrupt decrease. Wooden office furniture consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Wooden Office Furniture Production in Azerbaijan

In value terms, wooden office furniture production fell to $X in 2021 estimated in export price. Overall, production, however, recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 0.1%. Wooden office furniture production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Wooden Office Furniture Exports

Exports from Azerbaijan

In 2021, after three years of decline, there was significant growth in shipments abroad of wooden furniture of a kind used in offices, when their volume increased by 1,789% to X units. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 4,579%. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, wooden office furniture exports soared to $X in 2021. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 11,725%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Russia (X units) was the main destination for wooden office furniture exports from Azerbaijan, with a 64% share of total exports. Moreover, wooden office furniture exports to Russia exceeded the volume sent to the second major destination, the UK (X units), fourfold. The third position in this ranking was taken by Uzbekistan (X units), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at +69.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+174.4% per year) and Uzbekistan (+233.2% per year).

In value terms, Russia ($X), the UK ($X) and Uzbekistan ($X) constituted the largest markets for wooden office furniture exported from Azerbaijan worldwide, with a combined 83% share of total exports.

Among the main countries of destination, Uzbekistan, with a CAGR of +344.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wooden office furniture export price amounted to $X per unit, falling by -65.8% against the previous year. Over the period under review, the export price, however, showed moderate growth. The most prominent rate of growth was recorded in 2014 an increase of 648%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per unit), while the average price for exports to Russia ($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 Uzbekistan (+31.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Office Furniture Imports

Imports into Azerbaijan

In 2021, after two years of decline, there was significant growth in supplies from abroad of wooden furniture of a kind used in offices, when their volume increased by 13% to X units. In general, imports, however, recorded a pronounced downturn. The pace of growth was the most pronounced in 2015 when imports increased by 127%. As a result, imports reached the peak of X units. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, wooden office furniture imports declined dramatically to $X in 2021. Overall, imports, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2014 when imports increased by 74% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X units) constituted the largest wooden office furniture supplier to Azerbaijan, with a 68% share of total imports. Moreover, wooden office furniture imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X units), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey amounted to +3.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+13.0% per year) and the United Arab Emirates (-57.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of wooden furniture of a kind used in offices to Azerbaijan, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with a 7.7% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.2% per year) and the United Arab Emirates (-60.9% per year).

Import Prices by Country

The average wooden office furniture import price stood at $X per unit in 2021, falling by -30.5% against the previous year. Over the period under review, the import price saw a abrupt decrease. The pace of growth appeared the most rapid in 2019 an increase of 24% against the previous year. 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 Turkey ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (-3.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :