Azerbaijan's car imports decline by 89.3% y/y to 437 in January

By bne IntelliNews February 18, 2016

Imports of cars and vehicles declined by 89.3% y/y to 437 units in Azerbaijan in January, according to the State Customs Committee (SCC).

Azerbaijan used to import a large number of second-hand vehicles, which peaked at 104,000 in 2013, from Europe via Georgia. However, the enforcement of the Euro-4 emission standards in April 2014 and the subdued consumer confidence have led to a steep decline in the number of car purchases. The Azerbaijani manat lost 50% of its value in 2014, resulting in lower purchasing power in dollar terms.

In 2015, Azerbaijan imported a total of 26,785 vehicles, the majority of which were cars - 23,765, followed by lorries - 1,961, buses - 816 and special-purpose vehicles - 243. Total imports of vehicles and spare parts amounted to $1.12bn in 2015, a 45% y/y increase.

Azerbaijan is Georgia's leading market for used cars, accounting for 55% of its neighbour's automotive sales, and the decline in Azerbaijan's imports affected Georgia's car exports, which dropped by 66% to $122mn in January-August 2015.

Over 1.2mn vehicles are registered in Azerbaijan, a country with a population of 9.5mn and poor road infrastructure outside the capital city. By 2025, the number of vehicles is expected to exceed 3mn. 

Related Articles

BP, Socar extend production sharing deal on largest Azerbaijani oil field cluster to 2050

British oil major BP and Azerbaijani national oil company Socar on September 14 signed a contract extending their production sharing deal for Azerbaijan’s biggest cluster of oil fields until 2050. ... more

Fitch downgrades Azerbaijan's Accessbank to 'BB-'

Fitch Ratings downgraded the long-term issuer default rating of Azerbaijan's Accessbank from 'BB+' to 'BB-' with a stable outlook on September 6, while affirming its viability rating at 'f'. One ... more

Israel's defence ministry halts drone exports to Azerbaijan amid investigation

Israel's defence ministry has halted a company's exports of "suicide" drones to Azerbaijan in the midst of an ongoing investigation, newru.co.il reported on August 29. Aeronautics Defence Systems ... more

Dismiss