Azerbaijan: Copper Market 2024

Copper Market Size in Azerbaijan

In 2022, the Azerbaijani copper market increased by X% to $X for the first time since 2017, thus ending a four-year declining trend. Overall, the total consumption indicated a remarkable increase from 2012 to 2022: its value 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, consumption decreased by X% against 2017 indices. Copper consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Copper Production in Azerbaijan

In value terms, copper production reached $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

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Copper Exports

Exports from Azerbaijan

In 2022, shipments abroad of refined copper decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, enjoyed buoyant growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, copper exports shrank significantly to $X in 2022. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced notably in the following year.

Exports by Country

Turkey (X tons) was the main destination for copper exports from Azerbaijan, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Turkey stood at X%.

In value terms, Turkey ($X) also remains the key foreign market for refined copper exports from Azerbaijan.

From 2012 to 2022, the average annual growth rate of value to Turkey totaled X%.

Export Prices by Country

The average copper export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Turkey.

From 2012 to 2022, the rate of growth in terms of prices for Georgia amounted to X% per year.

Copper Imports

Imports into Azerbaijan

In 2022, purchases abroad of refined copper decreased by X% to X tons, falling for the third consecutive year after two years of growth. In general, imports saw a pronounced setback. The pace of growth was the most pronounced in 2016 when imports increased by X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, copper imports skyrocketed to $X in 2022. Overall, imports continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Iran (X tons) constituted the largest supplier of copper to Azerbaijan, accounting for a X% share of total imports. Moreover, copper imports from Iran exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), eightfold.

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

In value terms, Iran ($X) constituted the largest supplier of refined copper to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by Kazakhstan ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the average copper import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Kazakhstan ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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