Key Market Indicators
Azerbaijan's lighting import market is projected to grow steadily over the next few years. By 2028, imports are expected to reach nearly $24 million, up from approximately $21 million in 2023. This represents an average annual growth rate of 2.2%. Notably, since 2001, the country's demand for lighting products has increased by an average of 4.4% per year. In contrast, Azerbaijan's lighting export market is experiencing a decline. Exports are forecasted to drop to around $7,400 by 2028, down from $14,000 in 2023. This marks an annual decrease rate of 10.1%. Despite this recent downturn, it is important to note that Azerbaijani lighting supply had previously seen a significant increase, averaging a 41% growth per year since 2001.
