Eastern Europe: Rum Market 2024

Rum Market Size in Eastern Europe

The East European rum market totaled $X in 2022, with an increase of 2.6% against the previous year. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.0% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Rum Production in Eastern Europe

In value terms, rum production dropped remarkably to $X in 2022 estimated in export price. Over the period under review, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 168% against the previous year. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Rum Exports

Exports in Eastern Europe

In 2022, the amount of rum exported in Eastern Europe reduced modestly to X litres, flattening at the previous year's figure. Total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +10.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +8.8% against 2020 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 116%. The volume of export peaked at X litres in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, rum exports expanded markedly to $X in 2022. In general, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 191% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The biggest shipments were from Poland (X litres), Latvia (X litres), the Czech Republic (X litres), Lithuania (X litres) and Slovakia (X litres), together resulting at 88% of total export. It was distantly followed by Estonia (X litres), constituting a 5.2% share of total exports. Romania (X litres) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +67.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest rum supplying countries in Eastern Europe were Latvia ($X), Poland ($X) and the Czech Republic ($X), together comprising 70% of total exports. These countries were followed by Slovakia, Lithuania, Estonia and Romania, which together accounted for a further 26%.

Slovakia, with a CAGR of +67.6%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per litre, surging by 6.4% against the previous year. Export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rum export price increased by +29.5% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of 35% against the previous year. As a result, the export price attained the peak level of $X per litre. From 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Czech Republic ($X per litre), while Lithuania ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+13.1%), while the other leaders experienced more modest paces of growth.

Rum Imports

Imports in Eastern Europe

In 2022, approx. X litres of rum were imported in Eastern Europe; rising by 3.5% on the previous year. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +118.4% against 2015 indices. The most prominent rate of growth was recorded in 2017 with an increase of 41% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, rum imports reached $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +38.0% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 33%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

Russia was the largest importer of rum in Eastern Europe, with the volume of imports amounting to X litres, which was approx. 37% of total imports in 2022. It was distantly followed by the Czech Republic (X litres), Poland (X litres), Latvia (X litres), Romania (X litres), Ukraine (X litres) and Slovakia (X litres), together generating a 52% share of total imports. Lithuania (X litres) followed a long way behind the leaders.

Russia experienced a relatively flat trend pattern with regard to volume of imports of rum. At the same time, Romania (+19.2%), Poland (+18.4%), Latvia (+14.5%), Slovakia (+13.7%), Lithuania (+8.5%) and the Czech Republic (+7.1%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +19.2% from 2012-2022. Ukraine experienced a relatively flat trend pattern. While the share of Poland (+9.9 p.p.), Latvia (+4.4 p.p.), Romania (+4 p.p.), the Czech Republic (+3.5 p.p.) and Slovakia (+2.6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Ukraine (-3.1 p.p.) and Russia (-16.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Czech Republic ($X), Russia ($X) and Poland ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 60% share of total imports. These countries were followed by Latvia, Romania, Slovakia, Ukraine and Lithuania, which together accounted for a further 31%.

Among the main importing countries, Romania, with a CAGR of +25.3%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per litre, standing approx. at the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2021 when the import price increased by 11%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Slovakia ($X per litre), while Russia ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+9.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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