Azerbaijan’s Aluminium export market reflects volatility during 2017-20

Azerbaijan, a country positioned at the junction point of south-western Asia with south-eastern Europe, north of Iran and south of Russia. It shipped $19.6 billion worth of goods around the globe in 2019. The US dollar amount reflects a -55.3% decline since 2015 and a -0.9% increase from 2018 to 2019.

Based on the average exchange rate for 2019, the Azerbaijani manat (currency) depreciated by -65.9% against the US dollar since 2015 but remained about the same from 2018 to 2019. Azerbaijan’s weaker local currency since 2015 makes its exports paid for in stronger US dollars relatively less expensive for international buyers.

Azerbaijan’s Aluminium export market has been seen volatile for the past few years; though the total aluminium export recorded during 2017-19 was 114,117 tonnes.

The aluminium export forecasted for 2020 has been kept the lowest from the last three years with 28,736 tonnes, whereas when added the export with the last 3 years it reflects 142,853 tonnes.

In 2017 the aluminium export was recorded at 39,828 tonnes, while in 2018 there was a downfall of 8567 tonnes, a de-growth by 21.50%

Azerbaijan’s aluminium export in 2019 climber up to 43,028 tonnes, a rise of 37.64%, recorded growth M-o-M to 11,767 tonnes.

The aluminium export for 2020 has been projected at 28,736 tonnes, a downturn of 33.21% and by volume, it showed a fall of 14,292 tonnes M-o-M.

Azerbaijan’s aluminium export has been covering multiple countries like Hungary, Japan, Italy, Spain, Tunisia, Turkey, UAE, UK, etc.