Azerbaijan: Iodine Market 2024

Iodine Market Size in Azerbaijan

In 2022, after four years of growth, there was significant decline in the Azerbaijani iodine market, when its value decreased by X% to $X. In general, consumption faced a dramatic slump. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Iodine Production in Azerbaijan

In value terms, iodine production dropped slightly to $X in 2022 estimated in export price. Over the period under review, production showed a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Iodine Exports

Exports from Azerbaijan

In 2022, approx. X tons of iodine were exported from Azerbaijan; growing by X% on 2021. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2022: its volume 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, exports increased by X% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, iodine exports surged to $X in 2022. Overall, exports continue to indicate a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for iodine exports from Azerbaijan, accounting for a X% share of total exports. Moreover, iodine exports to Russia exceeded the volume sent to the second major destination, India (X tons), tenfold. The third position in this ranking was taken by China (X tons), with a X% share.

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

In value terms, Russia ($X) emerged as the key foreign market for iodine exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by China, with a X% share.

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

Export Prices by Country

In 2022, the average iodine export price amounted to $X per ton, surging by X% against the previous year. Overall, export price indicated a modest 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, iodine export price increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Latvia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Iodine Imports

Imports into Azerbaijan

In 2022, the amount of iodine imported into Azerbaijan skyrocketed to X kg, growing by X% compared with the previous year's figure. Over the period under review, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, iodine imports surged to $X in 2022. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Russia (X kg) constituted the largest supplier of iodine to Azerbaijan, with a X% share of total imports. Moreover, iodine imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X kg), sixfold. The United States (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United States (X% per year).

In value terms, Russia ($X) constituted the largest supplier of iodine to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Germany (X% per year).

Import Prices by Country

The average iodine import price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the import price, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the average import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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