Belarus: Inductor Market 2024

Inductor Market Size in Belarus

The Belarusian inductor market skyrocketed to $X in 2022, jumping by 29% 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). Over the period under review, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Inductor Exports

Exports from Belarus

In 2022, after two years of decline, there was significant growth in overseas shipments of inductors, when their volume increased by 167% to X units. Over the period under review, exports saw a slight expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, inductor exports skyrocketed to $X in 2022. In general, exports posted tangible growth. The most prominent rate of growth was recorded in 2017 when exports increased by 132%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X units) was the main destination for inductor exports from Belarus, accounting for a 90% share of total exports. Moreover, inductor exports to Russia exceeded the volume sent to the second major destination, Ukraine (X units), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia stood at +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+59.1% per year) and the Czech Republic (+31.1% per year).

In value terms, Russia ($X) remains the key foreign market for inductors exports from Belarus, comprising 86% of total exports. The second position in the ranking was held by Ukraine ($X), with an 8.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +3.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+53.2% per year) and the Czech Republic (+37.5% per year).

Export Prices by Country

The average inductor export price stood at $X per unit in 2022, waning by -17.7% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inductor export price increased by +84.1% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of 69%. The export price peaked at $X per unit in 2021, and then dropped sharply in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Inductor Imports

Imports into Belarus

Inductor imports into Belarus soared to X units in 2022, growing by 71% against 2021. Over the period under review, imports, however, recorded a abrupt decline. The growth pace was the most rapid in 2020 with an increase of 84%. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, inductor imports skyrocketed to $X in 2022. In general, imports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2020 with an increase of 44%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Russia (X units), Ukraine (X units) and China (X units) were the main suppliers of inductor imports to Belarus, together comprising 83% of total imports. Poland, Thailand, Germany and Switzerland lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +51.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest inductor suppliers to Belarus were Russia ($X), China ($X) and Ukraine ($X), together comprising 65% of total imports. Germany, Poland, Thailand and Switzerland lagged somewhat behind, together comprising a further 21%.

Switzerland, with a CAGR of +28.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average inductor import price stood at $X per unit in 2022, with a decrease of -31.2% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inductor import price increased by +20.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 75% against the previous year. As a result, import price attained the peak level of $X per unit, and then declined markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Ukraine (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+3.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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