Russian Federation: Biological Product Market 2024

Biological Product Market Size in the Russian Federation

In 2022, the Russian biological product market decreased by X% to $X, falling for the third year in a row after two years of growth. Overall, consumption saw a perceptible curtailment. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Biological Product Production in the Russian Federation

In value terms, biological product production reduced to $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Biological Product Exports

Exports from the Russian Federation

In 2022, overseas shipments of biological products increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, biological product exports expanded slightly to $X in 2022. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Kazakhstan (X tons), Belarus (X tons) and Oman (X tons) were the main destinations of biological product exports from Russia, together comprising X% of total exports.

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

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

From 2012 to 2022, the average annual growth rate of value to Kazakhstan totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Belarus (X% per year).

Export Prices by Country

In 2022, the average biological product export price amounted to $X per ton, declining by X% against the previous year. In general, the export price, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then reduced remarkably in the following year.

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 Finland ($X per ton), while the average price for exports to Italy ($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 India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Biological Product Imports

Imports into the Russian Federation

For the third consecutive year, Russia recorded decline in overseas purchases of biological products, which decreased by X% to X tons in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, biological product imports dropped to $X in 2022. Over the period under review, imports, however, showed tangible growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

Italy (X tons), France (X tons) and China (X tons) were the main suppliers of biological product imports to Russia, together accounting for X% of total imports. South Korea, Austria, Israel, Germany, the United States, the UK, Denmark and the Netherlands 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 South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest biological product suppliers to Russia were Germany ($X), Austria ($X) and the United States ($X), with a combined X% share of total imports. Italy, France, Israel, China, South Korea, the UK, the Netherlands and Denmark lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, South Korea, with a CAGR of X%, recorded 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 average biological product import price amounted to $X per ton, approximately reflecting the previous year. Over the period under review, import price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product import price increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2019 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X,282 per ton), while the price for Denmark ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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