Azerbaijan: Non-Combined Refrigerator-Freezer Market 2024

Non-Combined Refrigerator-Freezer Market Size in Azerbaijan

The Azerbaijani non-combined refrigerator-freezer market declined rapidly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption, however, continues to indicate a measured increase. Over the period under review, the market hit record highs at $X in 2021, and then contracted significantly in the following year.

Non-Combined Refrigerator-Freezer Production in Azerbaijan

In value terms, non-combined refrigerator-freezer production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production recorded a abrupt descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Non-Combined Refrigerator-Freezer Exports

Exports from Azerbaijan

In 2022, shipments abroad of household refrigerators and freezers (not combined) increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, non-combined refrigerator-freezer exports surged to $X in 2022. In general, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Georgia (X units) was the main destination for non-combined refrigerator-freezer exports from Azerbaijan, accounting for a X% share of total exports. It was followed by Turkey (X units), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Georgia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Russia (X% per year).

In value terms, Georgia ($X) remains the key foreign market for household refrigerators and freezers (not combined) exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was taken by Turkey ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Georgia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Russia (X% per year).

Export Prices by Country

The average non-combined refrigerator-freezer export price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to Turkey ($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 Russia (X%), while the prices for the other major destinations experienced a decline.

Non-Combined Refrigerator-Freezer Imports

Imports into Azerbaijan

In 2022, approx. X units of household refrigerators and freezers (not combined) were imported into Azerbaijan; reducing by X% against 2021. In general, imports, however, posted notable growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2021, and then reduced notably in the following year.

In value terms, non-combined refrigerator-freezer imports contracted markedly to $X in 2022. Overall, imports, however, saw a moderate increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted rapidly in the following year.

Imports by Country

Turkey (X units), Russia (X units) and China (X units) were the main suppliers of non-combined refrigerator-freezer imports to Azerbaijan, together accounting for X% of total imports. Indonesia, India, Iran, Thailand, South Korea and Ukraine lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-combined refrigerator-freezer suppliers to Azerbaijan were Turkey ($X), Indonesia ($X) and China ($X), with a combined X% share of total imports.

Indonesia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average non-combined refrigerator-freezer import price stood at $X per unit in 2022, surging by X% against the previous year. Overall, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-combined refrigerator-freezer import price increased by X% against 2019 indices. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was South Korea ($X per unit), while the price for Iran ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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