Key Market Indicators
Azerbaijani truck imports are projected to decline significantly over the next five years. By 2028, imports are expected to drop to approximately $32 million, down from $42 million in 2023. This represents an average annual decrease of 4.2%. Despite the anticipated decline, Azerbaijani demand for trucks has shown a general upward trend since 2001, growing at an average annual rate of 4.8%. On the export front, Azerbaijan witnessed a sharp decline in truck exports in 2019. Exports totaled just $70,000, a dramatic 78% decrease from the $314,000 recorded in 2018. This notable drop is part of a longer-term trend, with the country's truck export supply diminishing by an average of 38.3% annually since 2003.