Azerbaijan: Cotton Fabric Market 2024

Cotton Fabric Market Size in Azerbaijan

The Azerbaijani cotton fabric market fell significantly to $X in 2021, which is down by -70.8% against the previous year. Overall, consumption recorded a abrupt downturn. Cotton fabric consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Cotton Fabric Production in Azerbaijan

In value terms, cotton fabric production rose sharply to $X in 2021 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the production volume increased by 9.3%. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Cotton Fabric Exports

Exports from Azerbaijan

In 2021, after five years of growth, there was significant decline in shipments abroad of woven fabrics of cotton, when their volume decreased by -24.2% to X tons. Over the period under review, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 1,157%. Over the period under review, the exports reached the maximum at X tons in 2020, and then reduced sharply in the following year.

In value terms, cotton fabric exports dropped to $X in 2021. Overall, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2017 with an increase of 978% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020, and then reduced in the following year.

Exports by Country

Russia (X tons) was the main destination for cotton fabric exports from Azerbaijan, accounting for a 93% share of total exports. Moreover, cotton fabric exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at +77.4%.

In value terms, Russia ($X) remains the key foreign market for woven fabrics of cotton exports from Azerbaijan, comprising 95% of total exports. The second position in the ranking was held by Ukraine ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia amounted to +96.4%.

Export Prices by Country

The average cotton fabric export price stood at $X per ton in 2021, picking up by 13% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton fabric export price increased by +15.8% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 92%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Ukraine totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+34.3%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Fabric Imports

Imports into Azerbaijan

In 2021, overseas purchases of woven fabrics of cotton decreased by -32.1% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, recorded a pronounced increase. The pace of growth appeared the most rapid in 2013 with an increase of 178% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, cotton fabric imports fell sharply to $X in 2021. Over the period under review, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 130%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Uzbekistan (X tons), China (X tons) and Turkey (X tons) were the main suppliers of cotton fabric imports to Azerbaijan, with a combined 69% share of total imports. These countries were followed by Pakistan, Turkmenistan and Russia, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for Pakistan (with a CAGR of +61.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton fabric suppliers to Azerbaijan were China ($X), Uzbekistan ($X) and Turkey ($X), together accounting for 66% of total imports.

Turkey, with a CAGR of +56.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average cotton fabric import price amounted to $X per ton, surging by 8.5% against the previous year. Overall, the import price recorded a prominent expansion. The growth pace was the most rapid in 2015 when the average import price increased by 101% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Turkmenistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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