Azerbaijan: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Azerbaijan

The Azerbaijani market for processed petroleum oils and distillates skyrocketed to $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Processed Petroleum Oils and Distillates in Azerbaijan

In value terms, processed petroleum oils and distillates production contracted to $X in 2022 estimated in export price. Overall, production showed a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Azerbaijan

In 2022, overseas shipments of processed petroleum oils and distillates decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a abrupt curtailment. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports contracted dramatically to $X in 2022. Overall, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Turkey (X tons) and Luxembourg (X tons) were the main destinations of processed petroleum oils and distillates exports from Azerbaijan, with a combined X% share of total exports.

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

In value terms, Turkey ($X), Luxembourg ($X) and Libya ($X) constituted the largest markets for processed petroleum oils and distillates exported from Azerbaijan worldwide, together comprising X% of total exports.

Luxembourg, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, jumping by X% against the previous year. Overall, the export price, however, saw a pronounced setback. The growth pace was the most rapid in 2021 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Italy ($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 Ukraine (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Azerbaijan

In 2022, the amount of processed petroleum oils and distillates imported into Azerbaijan soared to X tons, rising by X% compared with the previous year. In general, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Kazakhstan (X tons) constituted the largest supplier of processed petroleum oils and distillates to Azerbaijan, with a X% share of total imports. Moreover, processed petroleum oils and distillates imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. China (X tons) 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 Kazakhstan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and China (X% per year).

In value terms, the largest processed petroleum oils and distillates suppliers to Azerbaijan were Kazakhstan ($X), Turkey ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

Kazakhstan, with a CAGR of X%, saw 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 import price for processed petroleum oils and distillates stood at $X per ton in 2022, remaining stable against the previous year. Overall, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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