Belarus: Loudspeaker Market 2024

Loudspeaker Market Size in Belarus

After four years of growth, the Belarusian loudspeaker market decreased by -22.8% to $X in 2021. Over the period under review, consumption, however, posted strong growth. As a result, consumption attained the peak level of $X, and then dropped notably in the following year.

Loudspeaker Production in Belarus

In value terms, loudspeaker production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate a remarkable increase. The pace of growth was the most pronounced in 2020 with an increase of 79%. As a result, production reached the peak level of $X, and then declined dramatically in the following year.

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Loudspeaker Exports

Exports from Belarus

In 2021, overseas shipments of single loudspeakers (in enclosure) decreased by -79.3% to X units, falling for the second year in a row after eight years of growth. Overall, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2016 with an increase of 456% against the previous year. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, loudspeaker exports contracted significantly to $X in 2021. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2018 when exports increased by 302%. Over the period under review, the exports attained the maximum at $X in 2020, and then declined notably in the following year.

Exports by Country

Russia (X units) was the main destination for loudspeaker exports from Belarus, accounting for a 92% share of total exports. Moreover, loudspeaker exports to Russia exceeded the volume sent to the second major destination, Lithuania (X units), more than tenfold. Armenia (X units) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2021, the average annual growth rate of volume to Russia stood at +39.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (+33.5% per year) and Armenia (+125.5% per year).

In value terms, Russia ($X) remains the key foreign market for single loudspeakers (in enclosure) exports from Belarus, comprising 83% of total exports. The second position in the ranking was held by Latvia ($X), with a 6.5% share of total exports. It was followed by Lithuania, with a 5.3% share.

From 2012 to 2021, the average annual growth rate of value to Russia totaled +40.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+37.0% per year) and Lithuania (+45.3% per year).

Export Prices by Country

The average loudspeaker export price stood at $X per unit in 2021, picking up by 73% against the previous year. In general, the export price continues to indicate a slight increase. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Latvia ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lithuania (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Loudspeaker Imports

Imports into Belarus

In 2021, overseas purchases of single loudspeakers (in enclosure) decreased by -62% to X units, falling for the second consecutive year after four years of growth. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 234% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, loudspeaker imports dropped markedly to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 125%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia (X units), China (X units) and the UK (X units) were the main suppliers of loudspeaker imports to Belarus, together accounting for 96% of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +16.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Russia ($X) constituted the largest supplier of single loudspeakers (in enclosure) to Belarus, comprising 58% of total imports. The second position in the ranking was taken by China ($X), with a 25% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Russia amounted to +21.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-10.9% per year) and the UK (-10.1% per year).

Import Prices by Country

The average loudspeaker import price stood at $X per unit in 2021, increasing by 76% against the previous year. Over the period under review, the import price, however, showed a noticeable decline. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Russia ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+4.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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