Uzbekistan: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Uzbekistan

The Uzbek iron or steel leaf-spring market surged to $X in 2022, with an increase of 128% 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 posted significant growth. Over the period under review, the market attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Uzbekistan

For the third consecutive year, Uzbekistan recorded growth in shipments abroad of iron or steel leaf-springs and leaves, which increased by 103% to X tons in 2022. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 9,033% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, iron or steel leaf-spring exports expanded rapidly to $X in 2022. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 7,233%. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

China (X tons) was the main destination for iron or steel leaf-spring exports from Uzbekistan, accounting for a 79% share of total exports. Moreover, iron or steel leaf-spring exports to China exceeded the volume sent to the second major destination, Azerbaijan (X tons), fourfold.

From 2017 to 2022, the average annual rate of growth in terms of volume to China totaled +179.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (0.0% per year) and Kazakhstan (-70.5% per year).

In value terms, China ($X) emerged as the key foreign market for iron or steel leaf-springs and leaves exports from Uzbekistan, comprising 90% of total exports. The second position in the ranking was taken by Azerbaijan ($X), with a 9.5% share of total exports.

From 2017 to 2022, the average annual rate of growth in terms of value to China stood at +224.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (0.0% per year) and Kazakhstan (-58.8% per year).

Export Prices by Country

In 2022, the average iron or steel leaf-spring export price amounted to $X per ton, waning by -45.4% against the previous year. Over the period under review, the export price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 261%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Azerbaijan ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+39.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Uzbekistan

In 2022, supplies from abroad of iron or steel leaf-springs and leaves was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel leaf-spring imports skyrocketed to $X in 2022. In general, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 169%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), South Korea (X tons) and Russia (X tons) were the main suppliers of iron or steel leaf-spring imports to Uzbekistan, together comprising 95% of total imports.

From 2017 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 +143.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of iron or steel leaf-springs and leaves to Uzbekistan, comprising 53% of total imports. The second position in the ranking was held by Russia ($X), with a 17% share of total imports. It was followed by South Korea, with a 15% share.

From 2017 to 2022, the average annual growth rate of value from China totaled +118.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+116.5% per year) and South Korea (+158.0% per year).

Import Prices by Country

The average iron or steel leaf-spring import price stood at $X per ton in 2022, with a decrease of -35% against the previous year. Overall, import price indicated a noticeable increase from 2017 to 2022: its price increased at an average annual rate of +4.1% over the last five years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the average import price increased by 40% against the previous year. As a result, import price attained the peak level of $X per ton, and then dropped dramatically in the following year.

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 Turkey ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+32.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :