Report Update Nov 1, 2024

Belarus - Iron Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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Belarus: Iron Ore Market 2024

Iron Ore Market Size in Belarus

In 2021, the Belarusian iron ore market decreased by -15.6% to $X, falling for the second year in a row after two years of growth. Overall, consumption, however, saw a resilient expansion. Iron ore consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Iron Ore Exports

Exports from Belarus

After two years of decline, shipments abroad of iron ores and concentrates decreased by 0% to X tons in 2021. Overall, exports showed a significant decline. The growth pace was the most rapid in 2018 with an increase of 321% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, iron ore exports amounted to $X in 2021. Over the period under review, exports saw a sharp descent. The most prominent rate of growth was recorded in 2018 when exports increased by 47% against the previous year. Over the period under review, the exports hit record highs 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 iron ore exports from Belarus, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Russia totaled -30.2%.

In value terms, Russia ($X) also remains the key foreign market for iron ores and concentrates exports from Belarus.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia amounted to -33.4%.

Export Prices by Country

The average iron ore export price stood at $X per ton in 2021, approximately equating the previous year. Overall, the export price showed a pronounced decline. The most prominent rate of growth was recorded in 2014 when the average export price increased by 63% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to -4.6% per year.

Iron Ore Imports

Imports into Belarus

In 2021, purchases abroad of iron ores and concentrates decreased by -16.1% to X tons, falling for the second year in a row after two years of growth. In general, imports, however, showed significant growth. The growth pace was the most rapid in 2014 when imports increased by 641%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, iron ore imports reduced to $X in 2021. Overall, imports, however, posted significant growth. The pace of growth was the most pronounced in 2014 when imports increased by 459% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Ukraine (X tons) was the main supplier of iron ore to Belarus, accounting for a 100% share of total imports. It was followed by Russia (X tons), with a 0.2% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Ukraine totaled +119.1%.

In value terms, Ukraine ($X) constituted the largest supplier of iron ores and concentrates to Belarus, comprising 98% of total imports. The second position in the ranking was held by Russia ($X), with a 1.5% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Ukraine totaled +80.3%.

Import Prices by Country

In 2021, the average iron ore import price amounted to $X per ton, with an increase of 8.4% against the previous year. In general, the import price, however, showed a deep slump. The most prominent rate of growth was recorded in 2018 an increase of 33% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Russia ($X per ton), while the price for Ukraine amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+2.5%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for iron ores and concentrates in the world?

The countries with the highest volumes of iron ore consumption in 2020 were China, Australia and Russia, with a combined 74% share of global consumption.

What are the largest producers of iron ores and concentrates in the world?

Australia constituted the country with the largest volume of iron ore production, accounting for 48% of total volume. Moreover, iron ore production in Australia exceeded the figures recorded by the second-largest producer, Brazil, threefold. The third position in this ranking was occupied by Russia, with a 15% share.

What are the leading suppliers of iron ores and concentrates to Belarus?

In value terms, Ukraine constituted the largest supplier of iron ore to Belarus.

What are the leading importers of iron ores and concentrates from Belarus?

In value terms, Russia remains the key foreign market for iron ore exports from Belarus.

What is the average export price for iron ores and concentrates in Belarus?

The average iron ore export price stood at $385 per ton in 2019, which is down by -46.4% against the previous year.

What is the average import price for iron ores and concentrates in Belarus?

In 2020, the average iron ore import price amounted to $25 per ton, falling by -16.7% against the previous year.

This report provides an in-depth analysis of the iron ore market in Belarus. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 07101000 - Iron ores and concentrates (excluding roasted iron pyrites)
Prodcom 07101010 -
Prodcom 07101020 -

Country coverage:

Belarus

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Belarus
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023