Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan - 2023

Contents:

1. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan (CIF) - 2022
2. Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan (FOB) - 2022
3. Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan
4. Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan (CIF) - 2022

In 2022, the average import price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $39 per unit, growing by 5.4% against the previous year. Over the period under review, the import price recorded a prominent increase. The pace of growth was the most pronounced in 2016 when the average import price increased by 91%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 ($69 per unit), while the price for Iran ($11 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan (FOB) - 2022

In 2022, the average export price for refrigerating or freezing equipment; parts thereof, other than furniture amounted to $912 per unit, declining by -53.6% against the previous year. Overall, the export price, however, continues to indicate a significant expansion. The pace of growth appeared the most rapid in 2018 an increase of 170,089% against the previous year. As a result, the export price attained the peak level of $22,304 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

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 Japan ($2,051 per unit), while the average price for exports to Kazakhstan ($19 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 the United States (+182,388.3%).

Imports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan

In 2022, purchases abroad of refrigerating or freezing equipment; parts thereof, other than furniture decreased by -6.8% to 112K units for the first time since 2018, thus ending a three-year rising trend. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +14.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.5% against 2019 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 47%. Over the period under review, imports of attained the maximum at 120K units in 2021, and then dropped in the following year.

In value terms, imports of refrigerating or freezing equipment; parts thereof, other than furniture contracted modestly to $4.4M in 2022. In general, imports, however, posted significant growth. The growth pace was the most rapid in 2021 when imports increased by 52%. As a result, imports attained the peak of $4.5M, and then shrank slightly in the following year.

Top Suppliers of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture to Azerbaijan in 2022:

1. Turkey (63.3K units)
2. Slovenia (21.0K units)
3. Iran (12.3K units)
4. China (8.7K units)
5. Italy (2.3K units)

Exports of Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture in Azerbaijan

In 2022, exports of refrigerating or freezing equipment; parts thereof, other than furniture from Azerbaijan skyrocketed to 19 units, growing by 90% against the year before. Over the period under review, exports posted a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 450%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, exports of refrigerating or freezing equipment; parts thereof, other than furniture fell to $17K in 2022. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 1,664% against the previous year. The exports peaked at $20K in 2021, and then reduced in the following year.

Top Export Markets for Refrigerating or Freezing Equipment; Parts Thereof, Other than Furniture from Azerbaijan in 2022:

1. Japan (7.0 units)
2. Kazakhstan (5.0 units)
3. Russia (4.0 units)
4. China (2.0 units)
5. Georgia (1.0 units)

Source: IndexBox Market Intelligence Platform