Estonia: Biological Product Market 2024

Biological Product Market Size in Estonia

In 2022, after four years of growth, there was significant decline in the Estonian biological product market, when its value decreased by X% to $X. Over the period under review, consumption, however, continues to indicate a pronounced expansion. Biological product consumption peaked at $X in 2021, and then shrank dramatically in the following year.

Biological Product Exports

Exports from Estonia

After three years of growth, overseas shipments of biological products decreased by X% to X tons in 2022. Over the period under review, exports, however, posted a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then shrank rapidly in the following year.

In value terms, biological product exports dropped markedly to $X in 2022. In general, exports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted sharply in the following year.

Exports by Country

Lithuania (X tons) was the main destination for biological product exports from Estonia, with a X% share of total exports. Moreover, biological product exports to Lithuania exceeded the volume sent to the second major destination, Russia (X tons), twofold. The third position in this ranking was taken by the UK (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and the UK (X% per year).

In value terms, Lithuania ($X) remains the key foreign market for biological products exports from Estonia, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Russia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Russia (X% per year).

Export Prices by Country

In 2022, the average biological product export price amounted to $X per ton, growing by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Ukraine ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into Estonia

In 2022, after three years of growth, there was significant decline in purchases abroad of biological products, when their volume decreased by X% to X tons. In general, imports, however, showed notable growth. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then declined notably in the following year.

In value terms, biological product imports dropped remarkably to $X in 2022. Overall, imports, however, recorded noticeable growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped significantly in the following year.

Imports by Country

China (X tons), Switzerland (X tons) and Germany (X tons) were the main suppliers of biological product imports to Estonia, with a combined X% share of total imports. Lithuania, the UK, Brazil, Austria, the Netherlands, France, Finland and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of biological products to Estonia, comprising X% of total imports. The second position in the ranking was taken by Switzerland ($X), with a X% share of total imports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (X% per year) and Lithuania (X% per year).

Import Prices by Country

The average biological product import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Austria ($X,383 per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform