Azerbaijan: Zinc Market 2024

Zinc Market Size in Azerbaijan

In 2021, the Azerbaijani zinc market decreased by -1.9% to $X, falling for the second consecutive year after two years of growth. In general, consumption faced a deep slump. Zinc consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Zinc Production in Azerbaijan

In value terms, zinc production totaled less than $X in 2021 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern.

Zinc Exports

Exports from Azerbaijan

In 2021, overseas shipments of zinc increased by 108% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2016 with an increase of 309% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, zinc exports skyrocketed to $X in 2021. Over the period under review, exports posted a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 1,282% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons) was the main destination for zinc exports from Azerbaijan, accounting for a 55% share of total exports. Moreover, zinc exports to the United Arab Emirates exceeded the volume sent to the second major destination, the UK (X tons), twofold. Georgia (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to the United Arab Emirates amounted to +37.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+32.8% per year) and Georgia (0.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for zinc exports from Azerbaijan, comprising 56% of total exports. The second position in the ranking was held by the UK ($X), with a 23% share of total exports. It was followed by Georgia, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +55.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+40.1% per year) and Georgia (0.0% per year).

Export Prices by Country

In 2021, the average zinc export price amounted to $X per ton, rising by 4.7% against the previous year. Overall, the export price recorded a resilient increase. The growth pace was the most rapid in 2016 when the average export price increased by 238%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were the Netherlands ($X per ton) and Turkey ($X per ton), while the average price for exports to the UK ($X per ton) and Georgia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Azerbaijan

Zinc imports into Azerbaijan reached X tons in 2021, picking up by 7.7% on the previous year's figure. Overall, imports, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2017 with an increase of 24%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, zinc imports soared to $X in 2021. In general, total imports indicated a slight expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -29.4% against 2017 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 69%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Iran (X tons) constituted the largest zinc supplier to Azerbaijan, accounting for a 64% share of total imports. Moreover, zinc imports from Iran exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume from Iran totaled +69.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-8.1% per year) and Spain (-9.7% per year).

In value terms, Iran ($X) constituted the largest supplier of zinc to Azerbaijan, comprising 62% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Spain, with an 8.5% share.

From 2012 to 2021, the average annual growth rate of value from Iran totaled +67.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-5.0% per year) and Spain (+13.3% per year).

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, picking up by 29% against the previous year. Over the period under review, the import price recorded a remarkable increase. The growth pace was the most rapid in 2017 when the average import price increased by 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Bulgaria ($X per ton) and Uzbekistan ($X per ton), while the price for Spain ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+29.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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