Belarus: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Belarus

In 2022, the Belarusian iron or steel leaf-spring market increased by 10% to $X, rising for the second consecutive year after three years of decline. Overall, consumption showed a abrupt curtailment. Iron or steel leaf-spring consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Iron or Steel Leaf-Springs and Leaves in Belarus

In value terms, iron or steel leaf-spring production reduced to $X in 2022 estimated in export price. In general, production showed a deep setback. The most prominent rate of growth was recorded in 2016 when the production volume increased by 48% against the previous year. Iron or steel leaf-spring production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Belarus

Iron or steel leaf-spring exports from Belarus dropped sharply to X tons in 2022, shrinking by -23.2% against 2021. Overall, exports, however, showed a moderate increase. The most prominent rate of growth was recorded in 2015 when exports increased by 62% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, iron or steel leaf-spring exports fell to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 31%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Ukraine (X tons) and Russia (X tons) were the main destinations of iron or steel leaf-spring exports from Belarus.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +24.4%).

In value terms, the largest markets for iron or steel leaf-spring exported from Belarus were Russia ($X) and Ukraine ($X).

In terms of the main countries of destination, Ukraine, with a CAGR of +17.8%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, rising by 20% against the previous year. In general, the export price, however, saw a pronounced reduction. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Ukraine stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (-1.5%).

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Belarus

In 2022, approx. X tons of iron or steel leaf-springs and leaves were imported into Belarus; which is down by -12% on 2021. In general, imports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of 51% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, iron or steel leaf-spring imports rose remarkably to $X in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +58.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 47%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of iron or steel leaf-spring to Belarus, with a 70% share of total imports. Moreover, iron or steel leaf-spring imports from Russia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sevenfold. The third position in this ranking was held by China (X tons), with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled +12.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+22.7% per year) and China (+33.5% per year).

In value terms, Russia ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Belarus, comprising 69% of total imports. The second position in the ranking was held by Turkey ($X), with a 9.8% share of total imports. It was followed by China, with a 5.5% share.

From 2012 to 2022, the average annual growth rate of value from Russia stood at +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+20.1% per year) and China (+33.2% per year).

Import Prices by Country

In 2022, the average iron or steel leaf-spring import price amounted to $X per ton, surging by 23% against the previous year. Overall, the import price, however, recorded a pronounced downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 31% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :