Central Asia: Cork Article Market 2024

Cork Article Market Size in Central Asia

The Central Asian cork article market was finally on the rise to reach $X in 2021, after four years of decline. In general, consumption, however, saw a slight curtailment. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Cork Article Production in Central Asia

In value terms, cork article production amounted to $X in 2021 estimated in export price. Over the period under review, production recorded a mild setback. The pace of growth was the most pronounced in 2013 with an increase of 56% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Cork Article Exports

Exports in Central Asia

After three years of growth, overseas shipments of cork articles decreased by -27% to X tons in 2021. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 192%. As a result, the exports attained the peak of X tons, and then reduced remarkably in the following year.

In value terms, cork article exports shrank rapidly to $X in 2021. In general, exports, however, showed significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 264% against the previous year. As a result, the exports attained the peak of $X, and then declined sharply in the following year.

Exports by Country

In 2021, Kazakhstan (X tons) was the key exporter of cork articles, generating 63% of total exports. It was distantly followed by Kyrgyzstan (X kg), generating a 31% share of total exports. Tajikistan (X kg) and Turkmenistan (X kg) held a minor share of total exports.

Kazakhstan was also the fastest-growing in terms of the cork articles exports, with a CAGR of +49.8% from 2012 to 2021. At the same time, Kyrgyzstan (+12.4%) displayed positive paces of growth. Turkmenistan experienced a relatively flat trend pattern. By contrast, Tajikistan (-21.7%) illustrated a downward trend over the same period. While the share of Kazakhstan (+50 p.p.), Tajikistan (+2.9 p.p.) and Turkmenistan (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Kyrgyzstan (-55.4 p.p.) displayed negative dynamics.

In value terms, Kazakhstan ($X) remains the largest cork article supplier in Central Asia, comprising 85% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with an 11% share of total exports. It was followed by Tajikistan, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan amounted to +57.8%. In the other countries, the average annual rates were as follows: Kyrgyzstan (+1.0% per year) and Tajikistan (+78.5% per year).

Export Prices by Country

In 2021, the export price in Central Asia amounted to $X per ton, falling by -6.4% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by 27% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Kyrgyzstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tajikistan (+128.1%), while the other leaders experienced mixed trends in the export price figures.

Cork Article Imports

Imports in Central Asia

In 2021, the amount of cork articles imported in Central Asia soared to X tons, increasing by 29% compared with 2020. Over the period under review, imports, however, recorded a noticeable slump. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, cork article imports surged to $X in 2021. In general, imports, however, continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2018 when imports increased by 42% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Kazakhstan was the main importer of cork articles in Central Asia, with the volume of imports accounting for X tons, which was near 79% of total imports in 2021. Uzbekistan (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Kyrgyzstan (6.6%).

From 2012 to 2021, average annual rates of growth with regard to cork article imports into Kazakhstan stood at -3.8%. At the same time, Kyrgyzstan (+7.2%) and Uzbekistan (+5.2%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in Central Asia, with a CAGR of +7.2% from 2012-2021. From 2012 to 2021, the share of Uzbekistan and Kyrgyzstan increased by +13 and +3.8 percentage points, respectively.

In value terms, Kazakhstan ($X) constitutes the largest market for imported cork articles in Central Asia, comprising 76% of total imports. The second position in the ranking was held by Uzbekistan ($X), with a 13% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Kazakhstan stood at -5.0%. The remaining importing countries recorded the following average annual rates of imports growth: Uzbekistan (+19.5% per year) and Kyrgyzstan (+2.7% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, increasing by 7.1% against the previous year. Overall, the import price, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2016 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kyrgyzstan ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Uzbekistan (+13.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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