Azerbaijan: Zinc Market 2025

Zinc Market Size in Azerbaijan

The Azerbaijani zinc market contracted slightly to $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption, however, saw a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Zinc Production in Azerbaijan

In value terms, zinc production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, posted a prominent increase. The growth pace was the most rapid in 2018 when the production volume increased by 37%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Zinc Exports

Exports from Azerbaijan

In 2022, overseas shipments of zinc, unwrought (not alloyed) increased by 0.5% to X tons, rising for the third consecutive year after two years of decline. In general, exports, however, showed a abrupt contraction. The growth pace was the most rapid in 2015 when exports increased by 880% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, zinc exports stood at $X in 2022. Overall, exports, however, showed a deep contraction. The pace of growth appeared the most rapid in 2015 with an increase of 832% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for zinc exports from Azerbaijan, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turkey stood at -5.9%.

In value terms, Turkey ($X) also remains the key foreign market for zinc, unwrought (not alloyed) exports from Azerbaijan.

From 2012 to 2022, the average annual growth rate of value to Turkey amounted to -2.1%.

Export Prices by Country

In 2022, the average zinc export price amounted to $X per ton, almost unchanged from the previous year. In general, export price indicated a strong expansion from 2012 to 2022: its price 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, zinc export price increased by +69.3% against 2015 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 25% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for India amounted to +15.7% per year.

Zinc Imports

Imports into Azerbaijan

In 2022, the amount of zinc, unwrought (not alloyed) imported into Azerbaijan soared to X tons, increasing by 23% on the previous year. Over the period under review, imports, however, recorded a perceptible slump. The pace of growth appeared the most rapid in 2017 with an increase of 49% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, zinc imports skyrocketed to $X in 2022. In general, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +102.6% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 96% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Iran (X tons) constituted the largest supplier of zinc to Azerbaijan, accounting for a 80% share of total imports. Moreover, zinc imports from Iran exceeded the figures recorded by the second-largest supplier, Spain (X tons), ninefold. Turkey (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Iran totaled +31.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-10.4% per year) and Turkey (+8.7% per year).

In value terms, Iran ($X) constituted the largest supplier of zinc, unwrought (not alloyed) to Azerbaijan, comprising 79% of total imports. The second position in the ranking was held by Spain ($X), with a 7.7% share of total imports. It was followed by Uzbekistan, with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Iran amounted to +48.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+14.8% per year) and Uzbekistan (+15.6% per year).

Import Prices by Country

In 2022, the average zinc import price amounted to $X per ton, with an increase of 18% against the previous year. In general, import price indicated a resilient increase from 2012 to 2022: its price increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +52.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 32%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+29.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :