Belarus: Petroleum Bitumen Market 2025

Petroleum Bitumen Market Size in Belarus

After two years of decline, the Belarusian petroleum bitumen market increased by 12% to $X in 2022. In general, consumption, however, saw a abrupt downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Petroleum Bitumen Production in Belarus

In value terms, petroleum bitumen production totaled $X in 2022 estimated in export price. Overall, production, however, showed a slight curtailment. The pace of growth was the most pronounced in 2017 with an increase of 100%. Petroleum bitumen production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Petroleum Bitumen Exports

Exports from Belarus

Petroleum bitumen exports from Belarus totaled X tons in 2022, stabilizing at 2021. In general, exports posted buoyant growth. The pace of growth was the most pronounced in 2015 with an increase of 98%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, petroleum bitumen exports contracted to $X in 2022. Overall, exports showed buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 105%. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Ukraine (X tons) was the main destination for petroleum bitumen exports from Belarus, with a 69% share of total exports. Moreover, petroleum bitumen exports to Ukraine exceeded the volume sent to the second major destination, Moldova (X tons), more than tenfold. The third position in this ranking was taken by Estonia (X tons), with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to Ukraine amounted to +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+7.4% per year) and Estonia (+12.0% per year).

In value terms, Ukraine ($X) remains the key foreign market for petroleum bitumen exports from Belarus, comprising 56% of total exports. The second position in the ranking was taken by Moldova ($X), with a 3.7% share of total exports. It was followed by Estonia, with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Ukraine amounted to +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+0.5% per year) and Estonia (+3.0% per year).

Export Prices by Country

The average petroleum bitumen export price stood at $X per ton in 2021, jumping by 34% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible descent. The most prominent rate of growth was recorded in 2017 when the average export price increased by 59%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Moldova ($X per ton), while the average price for exports to Russia ($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 Kazakhstan (+4.1%), while the prices for the other major destinations experienced a decline.

Petroleum Bitumen Imports

Imports into Belarus

In 2022, approx. X tons of petroleum bitumen were imported into Belarus; jumping by 18% against the year before. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2013 when imports increased by 3,271% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, petroleum bitumen imports shrank markedly to $X in 2022. In general, imports recorded a significant expansion. The growth pace was the most rapid in 2013 with an increase of 2,419% against the previous year. Imports peaked at $X in 2021, and then contracted remarkably in the following year.

Imports by Country

In 2021, Russia (X tons) was the main petroleum bitumen supplier to Belarus, with a approx. 110% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Russia amounted to +63.6%.

In value terms, Russia ($X) constituted the largest supplier of petroleum bitumen to Belarus.

From 2012 to 2021, the average annual growth rate of value from Russia totaled +56.3%.

Import Prices by Country

In 2021, the average petroleum bitumen import price amounted to $X per ton, picking up by 99% against the previous year. Over the period under review, the import price, however, showed a perceptible shrinkage. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, 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 -4.5% per year.

Source: IndexBox Platform