Belarus: Market for Iron and Steel Wire 2025

Market Size for Iron and Steel Wire in Belarus

The Belarusian iron and steel wire market rose sharply to $X in 2021, picking up by 7.6% against the previous year. Over the period under review, consumption recorded a mild curtailment. Iron and steel wire consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Iron and Steel Wire in Belarus

In value terms, iron and steel wire production soared to $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Iron and Steel Wire

Exports from Belarus

In 2021, the amount of iron and steel wire exported from Belarus reached X tons, rising by 2.6% on the previous year's figure. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2017 when exports increased by 13%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, iron and steel wire exports surged to $X in 2021. Overall, total exports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons), Russia (X tons) and Germany (X tons) were the main destinations of iron and steel wire exports from Belarus, together accounting for 57% of total exports. Poland, Estonia, the Czech Republic, Italy, Turkey, Romania, the United States, Austria, Latvia and Finland lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Estonia (with a CAGR of +74.7%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Lithuania ($X) and Germany ($X) appeared to be the largest markets for iron and steel wire exported from Belarus worldwide, with a combined 56% share of total exports. Poland, Estonia, the Czech Republic, Italy, Turkey, Romania, Austria, the United States, Latvia and Finland lagged somewhat behind, together comprising a further 38%.

Among the main countries of destination, Estonia, with a CAGR of +79.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average iron and steel wire export price amounted to $X per ton, growing by 48% against the previous year. In general, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Germany ($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 Finland (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Belarus

In 2021, overseas purchases of iron and steel wire decreased by -13.9% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 21%. Over the period under review, imports hit record highs at X tons in 2020, and then shrank in the following year.

In value terms, iron and steel wire imports skyrocketed to $X in 2021. Overall, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of iron and steel wire to Belarus, with a 73% share of total imports. Moreover, iron and steel wire imports from Russia exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), fourfold. China (X tons) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from Russia totaled +8.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-4.0% per year) and China (-6.3% per year).

In value terms, Russia ($X) constituted the largest supplier of iron and steel wire to Belarus, comprising 65% of total imports. The second position in the ranking was taken by Ukraine ($X), with an 18% share of total imports. It was followed by China, with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia stood at +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (-3.4% per year) and China (-1.4% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2021, increasing by 58% against the previous year. In general, the import price, however, showed a mild descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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