Belarus: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in Belarus

The Belarusian ball bearing parts market was estimated at $X in 2021, increasing by 3.9% against the previous year. Overall, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.1% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Ball Bearing Parts Production in Belarus

In value terms, ball bearing parts production expanded significantly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.8% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 39% against the previous year. Ball bearing parts production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Ball Bearing Parts Exports

Exports from Belarus

In 2021, the amount of parts of ball or roller bearings exported from Belarus rose modestly to X tons, with an increase of 1.8% on 2020. Over the period under review, exports, however, saw a precipitous contraction. The most prominent rate of growth was recorded in 2019 with an increase of 204%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, ball bearing parts exports surged to $X in 2021. Overall, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 239%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Russia (X tons), Lithuania (X tons) and Ukraine (X tons) were the main destinations of ball bearing parts exports from Belarus, with a combined 97% share of total exports. Latvia lagged somewhat behind, accounting for a further 1.6%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Latvia (with a CAGR of +124.3%), while the other leaders experienced mixed trend patterns.

In value terms, Russia ($X), Lithuania ($X) and Ukraine ($X) constituted the largest markets for ball bearing parts exported from Belarus worldwide, together comprising 97% of total exports. Latvia lagged somewhat behind, accounting for a further 0.7%.

Latvia, with a CAGR of +81.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average ball bearing parts export price amounted to $X per ton, increasing by 27% against the previous year. Over the period under review, the export price continues to indicate a prominent increase. The pace of growth appeared the most rapid in 2015 an increase of 71% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Latvia ($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 Russia (+14.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into Belarus

In 2021, imports of parts of ball or roller bearings into Belarus contracted markedly to X tons, declining by -31.4% on the previous year's figure. Overall, imports recorded a abrupt slump. The pace of growth was the most pronounced in 2013 with an increase of 243%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, ball bearing parts imports totaled $X in 2021. Over the period under review, imports saw a deep setback. The pace of growth was the most pronounced in 2013 with an increase of 299%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of ball bearing parts to Belarus, accounting for a 76% share of total imports. Moreover, ball bearing parts imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), tenfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a 4.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-15.9% per year) and Taiwan (Chinese) (+24.3% per year).

In value terms, Russia ($X) constituted the largest supplier of parts of ball or roller bearings to Belarus, comprising 57% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by Slovakia, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from Russia amounted to +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-16.8% per year) and Slovakia (-4.3% per year).

Import Prices by Country

In 2021, the average ball bearing parts import price amounted to $X per ton, with an increase of 47% against the previous year. Overall, the import price saw a prominent expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Slovakia ($X per ton), while the price for China ($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 (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :