Jewelry Market Overview in Azerbaijan
In value terms, jewelry production expanded rapidly to $ in estimated in export prices. Over the period under review, production, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of % against the previous year. Over the period under review, production hit record highs in and is likely to see gradual growth in the immediate term.
The revenue of the jewelry market in Azerbaijan expanded to $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a strong increase. The pace of growth was the most pronounced in 2014 when the market value increased by % y-o-y. Over the period under review, the market reached the maximum level in and is expected to retain growth in years to come.