Belarus: Other Chemical Products Market 2024

Other Chemical Products Market Size in Belarus

In 2022, after five years of growth, there was decline in the Belarusian other chemical products market, when its value decreased by -1.7% to $X. Overall, consumption saw a relatively flat trend pattern. Other chemical products consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Other Chemical Products Exports

Exports from Belarus

In 2022, shipments abroad of other chemical products increased by 29% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, recorded a sharp setback. The growth pace was the most rapid in 2016 with an increase of 110%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, other chemical products exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate a sharp setback. The pace of growth appeared the most rapid in 2016 with an increase of 80%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X tons), Ukraine (X tons) and Egypt (X tons) were the main destinations of other chemical products exports from Belarus, together comprising 97% of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +8.6%), while shipments for the other leaders experienced a decline.

In value terms, Russia ($X) remains the key foreign market for other chemical products exports from Belarus, comprising 49% of total exports. The second position in the ranking was held by Egypt ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Russia totaled -33.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+7.3% per year) and Ukraine (-24.4% per year).

Export Prices by Country

In 2022, the average other chemical products export price amounted to $X per ton, dropping by -10.7% against the previous year. In general, export price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, other chemical products export price increased by +37.1% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average export price increased by 45%. The export price peaked at $X per ton in 2021, and then shrank in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+5.4%), while the prices for the other major destinations experienced a decline.

Other Chemical Products Imports

Imports into Belarus

In 2022, purchases abroad of other chemical products decreased by -2.5% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, imports continue to indicate a pronounced contraction. The pace of growth was the most pronounced in 2014 when imports increased by 27%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, other chemical products imports shrank modestly to $X in 2022. In general, imports showed a perceptible curtailment. The pace of growth appeared the most rapid in 2016 when imports increased by 8.6%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest other chemical products supplier to Belarus, accounting for a 36% share of total imports. Moreover, other chemical products imports from Russia exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. Hungary (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Russia stood at -2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+8.9% per year) and Hungary (+28.8% per year).

In value terms, Latvia ($X) constituted the largest supplier of other chemical products to Belarus, comprising 28% of total imports. The second position in the ranking was taken by Hungary ($X), with a 14% share of total imports. It was followed by Russia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Latvia amounted to +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+25.2% per year) and Russia (-9.8% per year).

Import Prices by Country

In 2022, the average other chemical products import price amounted to $X per ton, approximately reflecting the previous year. In general, the import price, however, continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2015 an increase of 19% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+27.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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