Belarus: Static Converter Market 2024

Static Converter Market Size in Belarus

The Belarusian static converter market fell slightly to $X in 2021, reducing by -3.2% against the previous year. In general, consumption saw a deep downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Static Converter Production in Belarus

In value terms, static converter production contracted to $X in 2021 estimated in export price. Overall, production saw a abrupt decline. The pace of growth was the most pronounced in 2015 with an increase of 105%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Static Converter Exports

Exports from Belarus

In 2021, approx. X units of static converters were exported from Belarus; growing by 49% compared with the year before. Overall, exports continue to indicate a tangible increase. The most prominent rate of growth was recorded in 2020 with an increase of 50%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, static converter exports skyrocketed to $X in 2021. Over the period under review, exports recorded a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 81% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Spain (X units), Russia (X units) and Lithuania (X units) were the main destinations of static converter exports from Belarus, together comprising 95% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +263.4%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for static converters exports from Belarus, comprising 49% of total exports. The second position in the ranking was held by Spain ($X), with a 19% share of total exports. It was followed by Switzerland, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Russia amounted to +1.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+193.3% per year) and Switzerland (+54.1% per year).

Export Prices by Country

The average static converter export price stood at $X per unit in 2021, with a decrease of -17.7% against the previous year. Overall, the export price, however, enjoyed pronounced growth. The pace of growth was the most pronounced in 2018 an increase of 43% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Spain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.0%), while the prices for the other major destinations experienced mixed trend patterns.

Static Converter Imports

Imports into Belarus

In 2021, approx. X units of static converters were imported into Belarus; with an increase of 20% on the previous year's figure. Overall, imports continue to indicate significant growth. The growth pace was the most rapid in 2016 with an increase of 112% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, static converter imports reduced modestly to $X in 2021. In general, total imports indicated a perceptible expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% 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 decreased by -9.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 47% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Russia (X units) constituted the largest static converter supplier to Belarus, accounting for a 71% share of total imports. Moreover, static converter imports from Russia exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. Serbia (X units) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia stood at +26.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+39.7% per year) and Serbia (+155.3% per year).

In value terms, Russia ($X), China ($X) and Italy ($X) constituted the largest static converter suppliers to Belarus, with a combined 50% share of total imports. These countries were followed by Poland, Serbia and Taiwan (Chinese), which together accounted for a further 2.6%.

Serbia, with a CAGR of +88.2%, recorded the highest rates of growth with regard to 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 static converter import price stood at $X per unit in 2021, dropping by -18.1% against the previous year. Overall, the import price showed a abrupt descent. The growth pace was the most rapid in 2019 an increase of 42% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-14.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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