Azerbaijan - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
Update: COVID-19 Impact
Azerbaijan: Jewelry Market Overview 2020
Jewelry Market Size in Azerbaijan
For the fourth year in a row, Azerbaijan recorded growth in market value of jewelry, which increased by X% to $X in 2019. Over the period under review, jewelry consumption saw an outstanding expansion. The most prominent rate of growth was recorded in 2009 when the market value increased by X% year-to-year. Jewelry consumption peaked in 2019 and is expected to retain its growth in the in years to come.
Exports from Azerbaijan
The exports of jewelry decreased by -X% from Azerbaijan to X kg for the fourth year in a row after three years of growth. Over the period under review, jewelry exports saw a precipitous contraction. The pace of growth was the most pronounced in 2008 with an increase of X% year-to-year. In that year, jewelry exports attained their peak of X tonnes. From 2009 to 2019, the growth of jewelry exports remained at a somewhat lower figure.
In value terms, jewelry exports dropped remarkably to $X in 2019. In general, jewelry exports recorded a dramatic setback. The pace of growth appeared the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, jewelry exports hit record highs at $X in 2008; however, from 2009 to 2019, exports stood at a somewhat lower figure.
Exports by Country
Georgia (X kg) was the main destination for jewelry exports from Azerbaijan, with a X% share of total exports. Moreover, jewelry exports to Georgia exceeded the volume sent to the second major destination, Switzerland (X kg), ninefold. The third position in this ranking was occupied by Spain (X kg), with a X% share.
From 2007 to 2018, the average annual growth rate of volume to Georgia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (-X% per year) and Spain (+X% per year).
In value terms, Switzerland ($X) remains the key foreign market for jewelry exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was occupied by Spain ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.
From 2007 to 2018, the average annual rate of growth in terms of value to Switzerland amounted to -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-X% per year) and the United Arab Emirates (-X% per year).
Imports into Azerbaijan
Jewelry imports into Azerbaijan contracted markedly to X kg in 2019, coming down by -X% compared with the previous year. Over the period under review, jewelry imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2018 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2014; however, from 2015 to 2019, imports remained at a lower figure.
In value terms, jewelry imports dropped notably to $X in 2019. In general, jewelry imports, however, posted a strong expansion. The growth pace was the most rapid in 2016 when imports increased by X% y-o-y. Imports peaked at $X in 2018, and then declined slightly in the following year.
Imports by Country
Italy (X tonnes), Russia (X tonnes) and Turkey (X kg) were the main suppliers of jewelry imports to Azerbaijan, together comprising X% of total imports. France, Thailand, Germany, China and the UK lagged somewhat behind, together comprising a further X 2007 to 2018, the biggest increases were in Thailand (+X% per year), while purchases for the other leaders experienced more modest paces of growth.
In value terms, Italy ($X) constituted the largest supplier of jewelry to Azerbaijan, comprising X% of total imports. The second position in the ranking was occupied by France ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.
From 2007 to 2018, the average annual growth rate of value from Italy amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+X% per year) and Turkey (+X% per year).
Source: IndexBox AI Platform
This report provides an in-depth analysis of the jewelry market in Azerbaijan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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