Uzbekistan: Ball Bearing Market 2024

Ball Bearing Market Size in Uzbekistan

The Uzbek ball bearing market rose notably to $X in 2021, increasing by 8.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, posted a strong increase. Ball bearing consumption peaked in 2021 and is expected to retain growth in the near future.

Ball Bearing Exports

Exports from Uzbekistan

In 2021, the amount of ball bearings exported from Uzbekistan skyrocketed to X tons, rising by 359% against the previous year's figure. Overall, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing exports skyrocketed to $X in 2021. Over the period under review, exports posted a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons) was the main destination for ball bearing exports from Uzbekistan, with a 68% share of total exports. Moreover, ball bearing exports to Lithuania exceeded the volume sent to the second major destination, Azerbaijan (X tons), threefold. The third position in this ranking was held by Colombia (X kg), with a 3.7% share.

From 2017 to 2021, the average annual rate of growth in terms of volume to Lithuania totaled +105.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+474.2% per year) and Colombia (0.0% per year).

In value terms, Lithuania ($X) emerged as the key foreign market for ball bearings exports from Uzbekistan, comprising 66% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with an 18% share of total exports. It was followed by Hungary, with a 5.2% share.

From 2017 to 2021, the average annual growth rate of value to Lithuania stood at +177.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+1,260.2% per year) and Hungary (0.0% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, with an increase of 177% against the previous year. In general, the export price showed a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tajikistan (+229.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into Uzbekistan

In 2021, overseas purchases of ball bearings decreased by -2.4% to X tons, falling for the second year in a row after three years of growth. Overall, total imports indicated a prominent increase from 2017 to 2021: its volume increased at an average annual rate of +15.1% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 45%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, ball bearing imports totaled $X in 2021. Over the period under review, total imports indicated a significant increase from 2017 to 2021: its value increased at an average annual rate of +20.1% over the last four-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +108.0% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 43%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest ball bearing supplier to Uzbekistan, accounting for a 84% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total imports with a 2.2% share.

From 2017 to 2021, the average annual growth rate of volume from China amounted to +82.2%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-26.9% per year) and Turkey (+59.1% per year).

In value terms, China ($X) constituted the largest supplier of ball bearings to Uzbekistan, comprising 54% of total imports. The second position in the ranking was taken by Germany ($X), with a 5.7% share of total imports. It was followed by Russia, with a 4.2% share.

From 2017 to 2021, the average annual growth rate of value from China stood at +38.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.5% per year) and Russia (-23.4% per year).

Import Prices by Country

The average ball bearing import price stood at $X per ton in 2021, rising by 13% against the previous year. Over the last four-year period, it increased at an average annual rate of +4.3%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+87.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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