Azerbaijan: Combined Refrigerator-Freezer Market 2024

Combined Refrigerator-Freezer Market Size in Azerbaijan

The Azerbaijani combined refrigerator-freezer market shrank to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed a noticeable increase. Over the period under review, the market hit record highs at $X in 2021, and then contracted in the following year.

Combined Refrigerator-Freezer Exports

Exports from Azerbaijan

Combined refrigerator-freezer exports from Azerbaijan skyrocketed to X units in 2022, jumping by X% compared with the previous year's figure. Overall, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

In value terms, combined refrigerator-freezer exports soared to $X in 2022. In general, exports showed a significant increase. The pace of growth was the most pronounced 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 combined refrigerator-freezer exports from Azerbaijan, accounting for a X% share of total exports. Moreover, combined refrigerator-freezer exports to Georgia exceeded the volume sent to the second major destination, Ukraine (X units), tenfold. The third position in this ranking was taken by Russia (X units), with a X% share.

From 2013 to 2022, the average annual growth rate of volume to Georgia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and Russia (X% per year).

In value terms, Georgia ($X) remains the key foreign market for combined refrigerators-freezers exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was held by Ukraine ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of value to Georgia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and Russia (X% per year).

Export Prices by Country

The average combined refrigerator-freezer export price stood at $X per unit in 2022, jumping by X% against the previous year. Over the period under review, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per unit), while the average price for exports to the UK ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Combined Refrigerator-Freezer Imports

Imports into Azerbaijan

In 2022, imports of combined refrigerators-freezers into Azerbaijan plummeted to X units, declining by X% on the previous year's figure. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, combined refrigerator-freezer imports fell to $X in 2022. Overall, imports, however, posted a moderate increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

Russia (X units), Thailand (X units) and Turkey (X units) were the main suppliers of combined refrigerator-freezer imports to Azerbaijan, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest combined refrigerator-freezer suppliers to Azerbaijan were Thailand ($X), Russia ($X) and Turkey ($X), together accounting for X% of total imports.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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 combined refrigerator-freezer import price stood at $X per unit in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in the near future.

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

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

Source: IndexBox Platform

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