Azerbaijan: Refrigerator And Freezer Market 2024

Refrigerator And Freezer Market Size in Azerbaijan

The Azerbaijani refrigerator and freezer market declined to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption, however, enjoyed noticeable growth. As a result, consumption attained the peak level of $X, and then dropped in the following year.

Refrigerator And Freezer Production in Azerbaijan

In value terms, refrigerator and freezer production contracted modestly to $X in 2022 estimated in export price. Overall, production showed a abrupt slump. The growth pace was the most rapid in 2013 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Refrigerator And Freezer Exports

Exports from Azerbaijan

In 2022, the amount of refrigerators and freezers exported from Azerbaijan soared to X units, surging by X% on the year before. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, refrigerator and freezer exports surged to $X in 2022. In general, exports posted a significant increase. The growth pace was the most rapid in 2021 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Georgia (X units) was the main destination for refrigerator and freezer exports from Azerbaijan, accounting for a X% share of total exports. Moreover, refrigerator and freezer exports to Georgia exceeded the volume sent to the second major destination, Ukraine (X units), more than tenfold. The third position in this ranking was held by Russia (X units), with a X% share.

From 2012 to 2022, 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: Ukraine (X% per year) and Russia (X% per year).

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

From 2012 to 2022, the average annual rate of growth in terms of value 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).

Export Prices by Country

The average refrigerator and freezer export price stood at $X per unit in 2022, rising by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, 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 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 mixed trend patterns.

Refrigerator And Freezer Imports

Imports into Azerbaijan

In 2022, the amount of refrigerators and freezers imported into Azerbaijan fell markedly to X units, which is down by X% against the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then fell dramatically in the following year.

In value terms, refrigerator and freezer imports contracted to $X in 2022. Over the period under review, imports, however, continue to indicate measured growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports reached the peak of $X, and then contracted in the following year.

Imports by Country

Russia (X units), Turkey (X units) and Thailand (X units) were the main suppliers of refrigerator and freezer imports to Azerbaijan, together comprising X% of total imports. China, Indonesia, Uzbekistan, India, Belarus and Ukraine lagged somewhat behind, together accounting for a further X%.

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

In value terms, Thailand ($X), Turkey ($X) and Russia ($X) constituted the largest refrigerator and freezer suppliers to Azerbaijan, with a combined X% share of total imports. China, Indonesia, India, Uzbekistan, Belarus and Ukraine lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refrigerator and freezer import price amounted to $X per unit, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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