Belarus: Worked Wax Articles Market 2024

Worked Wax Articles Market Size in Belarus

After three years of growth, the Belarusian worked wax articles market decreased by -18.7% to $X in 2022. Overall, the total consumption indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2021, and then fell significantly in the following year.

Worked Wax Articles Production in Belarus

In value terms, worked wax articles production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -7.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 45% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Worked Wax Articles Exports

Exports from Belarus

In 2022, the amount of worked articles of wax exported from Belarus was estimated at X units, with an increase of 6.8% on the year before. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 1,015% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, worked wax articles exports dropped rapidly to $X in 2022. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 4,200% against the previous year. The exports peaked at $X in 2021, and then fell markedly in the following year.

Exports by Country

Russia (X units) was the main destination for worked wax articles exports from Belarus, accounting for a 72% share of total exports. Moreover, worked wax articles exports to Russia exceeded the volume sent to the second major destination, Lithuania (X units), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to +40.3%.

In value terms, Lithuania ($X) remains the key foreign market for worked articles of wax exports from Belarus, comprising 92% of total exports. The second position in the ranking was held by Russia ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Lithuania amounted to +50.8%.

Export Prices by Country

In 2022, the average worked wax articles export price amounted to $X per thousand units, declining by -22.7% against the previous year. Overall, the export price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 286% against the previous year. Over the period under review, the average export prices hit record highs at $X per thousand units in 2021, and then fell dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per thousand units), while the average price for exports to Russia amounted to $X per thousand units.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+2.8%), while the prices for the other major destinations experienced a decline.

Worked Wax Articles Imports

Imports into Belarus

In 2022, supplies from abroad of worked articles of wax decreased by -66% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when imports increased by 53%. Imports peaked at X units in 2021, and then declined significantly in the following year.

In value terms, worked wax articles imports declined rapidly to $X in 2022. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 with an increase of 32%. Imports peaked at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

In 2022, Russia (X units) constituted the largest supplier of worked wax articles to Belarus, with a 53% share of total imports. Moreover, worked wax articles imports from Russia exceeded the figures recorded by the second-largest supplier, China (X units), twofold. Croatia (X units) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia totaled +71.5%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+30.2% per year) and Croatia (+2.6% per year).

In value terms, Russia ($X) constituted the largest supplier of worked articles of wax to Belarus, comprising 53% of total imports. The second position in the ranking was taken by Croatia ($X), with a 22% share of total imports. It was followed by China, with a 9.9% share.

From 2012 to 2022, the average annual growth rate of value from Russia amounted to +64.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+2.1% per year) and China (+43.8% per year).

Import Prices by Country

In 2022, the average worked wax articles import price amounted to $X per thousand units, jumping by 92% against the previous year. In general, the import price, however, saw a mild setback. Over the period under review, average import prices attained the maximum at $X per thousand units in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($X per thousand units), while the price for China ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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