Belarus: Lock And Key Market 2024

Lock And Key Market Size in Belarus

For the fourth year in a row, the Belarusian lock and key market recorded growth in sales value, which increased by 17% to $X in 2021. Overall, consumption posted resilient growth. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in years to come.

Lock And Key Exports

Exports from Belarus

In 2021, overseas shipments of padlocks, locks and keys of base metal were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 91% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, lock and key exports skyrocketed to $X in 2021. In general, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for lock and key exports from Belarus, with a 88% share of total exports. Moreover, lock and key exports to Russia exceeded the volume sent to the second major destination, Ukraine (X tons), more than tenfold. Poland (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+5.0% per year) and Poland (+84.7% per year).

In value terms, Russia ($X) remains the key foreign market for padlocks, locks and keys of base metal exports from Belarus, comprising 75% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 7.2% share of total exports. It was followed by Lithuania, with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia totaled +5.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+4.8% per year) and Lithuania (+25.2% per year).

Export Prices by Country

The average lock and key export price stood at $X per ton in 2021, picking up by 34% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Russia ($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 Lithuania (+0.4%), while the prices for the other major destinations experienced a decline.

Lock And Key Imports

Imports into Belarus

In 2021, approx. X tons of padlocks, locks and keys of base metal were imported into Belarus; increasing by 7.1% against 2020 figures. Over the period under review, imports recorded a prominent increase. The pace of growth was the most pronounced in 2016 when imports increased by 82%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, lock and key imports skyrocketed to $X in 2021. In general, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +100.8% against 2015 indices. The growth pace was the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of lock and key to Belarus, accounting for a 51% share of total imports. Moreover, lock and key imports from China exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+15.8% per year) and Poland (+6.5% per year).

In value terms, the largest lock and key suppliers to Belarus were China ($X), Russia ($X) and Poland ($X), together comprising 68% of total imports. These countries were followed by Germany, Austria, Italy, Turkey and Ukraine, which together accounted for a further 21%.

Ukraine, with a CAGR of +15.0%, recorded the highest growth rate of 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 lock and key import price stood at $X per ton in 2021, increasing by 14% against the previous year. Over the period under review, the import price, however, recorded a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of 25% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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