Belarus: Nitrites Market 2024

Nitrites Market Size in Belarus

After two years of growth, the Belarusian nitrites market decreased by X% to $X in 2022. Over the period under review, consumption continues to indicate a dramatic contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Nitrites Exports

Exports from Belarus

In 2022, exports of nitrites from Belarus declined dramatically to X tons, with a decrease of X% against the year before. Over the period under review, exports showed a abrupt decline. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, nitrites exports shrank dramatically to $X in 2022. In general, total exports indicated a slight expansion from 2012 to 2022: its value 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, exports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Russia (X tons), Uzbekistan (X tons) and Georgia (X tons) were the main destinations of nitrites exports from Belarus, with a combined X% share of total exports. Armenia lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Armenia (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, Uzbekistan ($X), Russia ($X) and Georgia ($X) appeared to be the largest markets for nitrites exported from Belarus worldwide, together accounting for X% of total exports. Armenia lagged somewhat behind, accounting for a further X%.

Armenia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average nitrites export price amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the export price recorded a strong increase. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

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

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Nitrites Imports

Imports into Belarus

Nitrites imports into Belarus shrank rapidly to X tons in 2022, which is down by X% compared with the previous year. Overall, imports faced a dramatic decrease. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, nitrites imports reduced notably to $X in 2022. Over the period under review, imports recorded a dramatic descent. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Russia (X tons), Germany (X tons) and Ukraine (X tons) were the main suppliers of nitrites imports to Belarus, with a combined X% share of total imports.

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

In value terms, the largest nitrites suppliers to Belarus were Germany ($X), Russia ($X) and Ukraine ($X), with a combined X% share of total imports.

Germany, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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 nitrites import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, import price indicated mild growth 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, nitrites import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for China ($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 mixed trend patterns.

Source: IndexBox Platform

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