Belarus: Ball Bearing Market 2024

Ball Bearing Market Size in Belarus

The Belarusian ball bearing market rose rapidly to $X in 2021, with an increase of 12% 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). Overall, consumption showed a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Ball Bearing Exports

Exports from Belarus

For the third year in a row, Belarus recorded decline in overseas shipments of ball bearings, which decreased by -22.8% to X tons in 2021. Overall, exports saw a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 114% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports totaled $X in 2021. Over the period under review, exports continue to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 44% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for ball bearing exports from Belarus, accounting for a 89% share of total exports. Moreover, ball bearing exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled -16.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+24.2% per year) and Kazakhstan (+28.1% per year).

In value terms, Russia ($X) remains the key foreign market for ball bearings exports from Belarus, comprising 89% of total exports. The second position in the ranking was held by Ukraine ($X), with a 6.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia totaled -4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+23.7% per year) and Kazakhstan (+24.3% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, surging by 35% against the previous year. In general, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 46%. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in years to come.

Average prices varied noticeably for the major foreign markets. In 2021, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+13.3%), while the prices for the other major destinations experienced a decline.

Ball Bearing Imports

Imports into Belarus

In 2021, overseas purchases of ball bearings decreased by -8.8% to X tons, falling for the third year in a row after three years of growth. Over the period under review, imports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 33%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, ball bearing imports stood at $X in 2021. In general, imports saw a deep contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 32%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of ball bearing to Belarus, accounting for a 56% share of total imports. Moreover, ball bearing imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was held by Ukraine (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.8% per year) and Ukraine (-10.5% per year).

In value terms, Russia ($X) constituted the largest supplier of ball bearings to Belarus, comprising 55% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 9.9% share of total imports. It was followed by China, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia amounted to +2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-7.7% per year) and China (-3.3% per year).

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, picking up by 23% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 an increase of 52%. The import price peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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