Azerbaijan: Luggage Market 2024

Luggage Market Size in Azerbaijan

For the third year in a row, the Azerbaijani luggage market recorded growth in sales value, which increased by X% to $X in 2023. In general, consumption showed a significant increase. Over the period under review, the market hit record highs in 2023 and is likely to see gradual growth in years to come.

Luggage Production in Azerbaijan

In value terms, luggage production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2018 when the production volume increased by X%. Luggage production peaked at $X in 2021; afterwards, it flattened through to 2023.

Luggage Exports

Exports from Azerbaijan

In 2023, approx. X units of luggage and handbags were exported from Azerbaijan; shrinking by X% compared with the previous year's figure. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The exports peaked at X units in 2022, and then dropped remarkably in the following year.

In value terms, luggage exports soared to $X in 2023. Overall, exports, however, posted significant growth. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Georgia (X units) was the main destination for luggage exports from Azerbaijan, with a X% share of total exports. It was followed by Russia (X units), with a X% share of total exports. Spain (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Georgia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Spain (X% per year).

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

From 2012 to 2023, the average annual rate of growth in terms of value to Georgia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and Russia (X% per year).

Export Prices by Country

In 2023, the average luggage export price amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price, however, saw a slight setback. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2023, 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 Spain ($X per unit), while the average price for exports to Georgia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Georgia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Luggage Imports

Imports into Azerbaijan

For the third consecutive year, Azerbaijan recorded growth in overseas purchases of luggage and handbags, which increased by X% to X units in 2023. Overall, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2023 and are expected to retain growth in the near future.

In value terms, luggage imports skyrocketed to $X in 2023. Over the period under review, imports posted a significant expansion. The pace of growth was the most pronounced in 2016 when imports increased by X%. Imports peaked in 2023 and are likely to see steady growth in years to come.

Imports by Country

In 2023, China (X units) was the main luggage supplier to Azerbaijan, with a X% share of total imports. Moreover, luggage imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Iran (X% per year).

In value terms, China ($X) constituted the largest supplier of luggage and handbags to Azerbaijan, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports.

From 2012 to 2023, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Iran (X% per year).

Import Prices by Country

The average luggage import price stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a noticeable curtailment. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2023, the average import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for Iran ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform