Key Market Indicators
The export of musical instruments from Azerbaijan is expected to reach nearly $13,000 by 2026, down 7% from the 2021 figure of $20,460. Since 2002, Azerbaijani exports have grown 5% annually. In 2021, Rwanda topped the rankings with $20,460, while Azerbaijan placed 97th. Germany, the United States and Japan followed in second, third and fourth place. Meanwhile, imports of musical instruments to Azerbaijan are predicted to reach $1.89 million by 2026, a 4.3% year-on-year CAGR increase from the 2021 figure of $1.46 million. Since 2001, demand from Azerbaijan has risen 16.2% annually. Bosnia and Herzegovina led the rankings in 2021 with $1.46 million, followed by Germany, China and Japan in second, third and fourth place.
