Uzbekistan: Steel Railway Material Market 2024

Steel Railway Material Market Size in Uzbekistan

The Uzbek steel railway material market reduced remarkably to $X in 2022, waning by -28% against the previous year. Over the period under review, consumption recorded a abrupt decline. Steel railway material consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Steel Railway Material Production in Uzbekistan

In value terms, steel railway material production expanded notably to $X in 2022 estimated in export price. In general, production, however, showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by 56%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Steel Railway Material Exports

Exports from Uzbekistan

In 2022, the amount of railway material of steel exported from Uzbekistan soared to X tons, rising by 107% on the previous year's figure. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 182% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, steel railway material exports expanded slightly to $X in 2022. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 2,130%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Russia (X tons) and Kyrgyzstan (X tons) were the main destinations of steel railway material exports from Uzbekistan.

From 2018 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +41.1%).

In value terms, Russia ($X) remains the key foreign market for railway material of steel exports from Uzbekistan, comprising 79% of total exports. The second position in the ranking was held by Kyrgyzstan ($X), with a 21% share of total exports.

From 2018 to 2022, the average annual rate of growth in terms of value to Russia totaled -13.7%.

Export Prices by Country

In 2022, the average steel railway material export price amounted to $X per ton, falling by -50.2% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by 690% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Kyrgyzstan stood at $X per ton.

From 2018 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (+8.4%).

Steel Railway Material Imports

Imports into Uzbekistan

In 2022, the amount of railway material of steel imported into Uzbekistan shrank sharply to X tons, with a decrease of -66% against the previous year. Over the period under review, imports recorded a significant curtailment. The growth pace was the most rapid in 2019 with an increase of 247%. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, steel railway material imports shrank remarkably to $X in 2022. Overall, imports saw a drastic downturn. The pace of growth was the most pronounced in 2019 when imports increased by 157% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Russia (X tons) constituted the largest steel railway material supplier to Uzbekistan, accounting for a 66% share of total imports. Moreover, steel railway material imports from Russia exceeded the figures recorded by the second-largest supplier, Estonia (X tons), fourfold. Kazakhstan (X tons) ranked third in terms of total imports with a 10% share.

From 2017 to 2022, the average annual rate of growth in terms of volume from Russia totaled -22.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Estonia (+43.1% per year) and Kazakhstan (-26.1% per year).

In value terms, Estonia ($X), Russia ($X) and Kazakhstan ($X) were the largest steel railway material suppliers to Uzbekistan, with a combined 95% share of total imports.

Estonia, with a CAGR of +63.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average steel railway material import price amounted to $X per ton, picking up by 34% against the previous year. Over the period under review, import price indicated a strong expansion from 2017 to 2022: its price increased at an average annual rate of +8.0% over the last five-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel railway material import price increased by +95.0% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Estonia (+14.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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