Azerbaijan: Wooden Bedroom Furniture Market 2024

Wooden Bedroom Furniture Market Size in Azerbaijan

The Azerbaijani wooden bedroom furniture market was estimated at $X in 2022, picking up by 2.2% against the previous year. In general, consumption saw a remarkable increase. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Wooden Bedroom Furniture Production in Azerbaijan

In value terms, wooden bedroom furniture production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, faced a precipitous setback. The most prominent rate of growth was recorded in 2013 when the production volume increased by 39%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Wooden Bedroom Furniture Exports

Exports from Azerbaijan

In 2022, the amount of wooden furniture of a kind used in the bedroom exported from Azerbaijan rose markedly to X units, with an increase of 14% against the previous year. In general, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 113% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, wooden bedroom furniture exports surged to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 244% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Lithuania (X units), Kazakhstan (X units) and Georgia (X units) were the main destinations of wooden bedroom furniture exports from Azerbaijan, together accounting for 69% of total exports. Saudi Arabia, Russia, Poland and Tajikistan lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +18.0%), while the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Kazakhstan ($X) and Poland ($X) appeared to be the largest markets for wooden bedroom furniture exported from Azerbaijan worldwide, with a combined 86% share of total exports.

Among the main countries of destination, Lithuania, with a CAGR of +21.1%, recorded the highest growth rate of 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

The average wooden bedroom furniture export price stood at $X per unit in 2022, growing by 9.1% against the previous year. Over the period under review, the export price saw resilient growth. The growth pace was the most rapid in 2019 an increase of 82%. The export price peaked in 2022 and is likely to see gradual 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 Kazakhstan ($X per unit), while the average price for exports to Georgia ($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 Lithuania (+29.9%), while the prices for the other major destinations experienced more modest paces of growth.

Wooden Bedroom Furniture Imports

Imports into Azerbaijan

In 2022, purchases abroad of wooden furniture of a kind used in the bedroom increased by 0.3% to X units, rising for the second year in a row after two years of decline. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2014 with an increase of 118% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, wooden bedroom furniture imports expanded notably to $X in 2022. Overall, imports showed a significant increase. The pace of growth was the most pronounced in 2016 with an increase of 169%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Turkey (X units) constituted the largest supplier of wooden bedroom furniture to Azerbaijan, accounting for a 74% share of total imports. Moreover, wooden bedroom furniture imports from Turkey exceeded the figures recorded by the second-largest supplier, Russia (X units), sixfold. Belarus (X units) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+149.1% per year) and Belarus (+63.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of wooden furniture of a kind used in the bedroom to Azerbaijan, comprising 74% of total imports. The second position in the ranking was held by Italy ($X), with a 6.8% share of total imports. It was followed by Belarus, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+33.2% per year) and Belarus (+46.3% per year).

Import Prices by Country

The average wooden bedroom furniture import price stood at $X per unit in 2022, picking up by 6.9% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wooden bedroom furniture import price increased by +29.1% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 107%. The import price peaked at $X per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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