Belarus: Steel Railway Material Market 2024

Steel Railway Material Market Size in Belarus

In 2022, the Belarusian steel railway material market decreased by -12.5% to $X, falling for the second year in a row after two years of growth. In general, consumption continues to indicate a deep reduction. Steel railway material consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Steel Railway Material Exports

Exports from Belarus

In 2022, approx. X tons of railway material of steel were exported from Belarus; with a decrease of -34% compared with the previous year's figure. Over the period under review, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 173% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel railway material exports declined remarkably to $X in 2022. Overall, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 148% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for steel railway material exports from Belarus, with a 86% share of total exports. Moreover, steel railway material exports to Russia exceeded the volume sent to the second major destination, Kazakhstan (X tons), more than tenfold. Ukraine (X tons) ranked third in terms of total exports with a 4.3% share.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (-11.7% per year) and Ukraine (-3.3% per year).

In value terms, Russia ($X) remains the key foreign market for railway material of steel exports from Belarus, comprising 84% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 6.7% share of total exports. It was followed by Kazakhstan, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to +10.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (-0.8% per year) and Kazakhstan (-13.1% per year).

Export Prices by Country

In 2022, the average steel railway material export price amounted to $X per ton, reducing by -20.9% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 48%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

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 Ukraine ($X per ton), while the average price for exports to Lithuania ($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 Ukraine (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.

Steel Railway Material Imports

Imports into Belarus

In 2022, overseas purchases of railway material of steel decreased by -11.8% to X tons, falling for the second year in a row after two years of growth. Overall, imports faced a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 81% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, steel railway material imports dropped dramatically to $X in 2022. Over the period under review, imports continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of 54%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of steel railway material to Belarus, with a 83% share of total imports. Moreover, steel railway material imports from Russia exceeded the figures recorded by the second-largest supplier, Kazakhstan (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume from Russia amounted to -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+79.8% per year) and Ukraine (-28.6% per year).

In value terms, Russia ($X) constituted the largest supplier of railway material of steel to Belarus, comprising 83% of total imports. The second position in the ranking was held by Kazakhstan ($X), with a 13% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to -3.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Kazakhstan (+102.1% per year) and Ukraine (-28.8% per year).

Import Prices by Country

The average steel railway material import price stood at $X per ton in 2022, waning by -5.8% against the previous year. Over the period under review, the import price showed a mild setback. The pace of growth appeared the most rapid in 2018 an increase of 24%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+12.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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