Eastern Europe: Market for Articles Of Iron Or Steel 2024

Market Size for Articles Of Iron Or Steel in Eastern Europe

The East European steel and iron articles market amounted to $X in 2023, surging by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2016; however, from 2017 to 2023, consumption remained at a lower figure.

Production of Articles Of Iron Or Steel in Eastern Europe

In value terms, steel and iron articles production expanded rapidly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of production peaked in 2023 and is expected to retain growth in the immediate term.

Exports of Articles Of Iron Or Steel

Exports in Eastern Europe

In 2023, steel and iron articles exports in Eastern Europe dropped to X tons, falling by X% compared with 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, steel and iron articles exports totaled $X in 2023. Total exports indicated prominent growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2023 and are expected to retain growth in the near future.

Exports by Country

In 2023, Poland (X tons) and the Czech Republic (X tons) represented the major exporters of articles of iron or steel in Eastern Europe, together making up X% of total exports. It was distantly followed by Slovakia (X tons), Romania (X tons), Hungary (X tons) and Russia (X tons), together creating a X% share of total exports. Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Bulgaria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Slovakia ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports. Hungary, Romania, Russia and Bulgaria lagged somewhat behind, together comprising a further X%.

Bulgaria, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. 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 amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%), while the other leaders experienced more modest paces of growth.

Imports of Articles Of Iron Or Steel

Imports in Eastern Europe

Steel and iron articles imports stood at X tons in 2023, leveling off at 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, steel and iron articles imports rose remarkably to $X in 2023. Total imports indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are likely to see gradual growth in the near future.

Imports by Country

Poland (X tons) and the Czech Republic (X tons) represented the major importers of articles of iron or steel in 2023, amounting to near X% and X% of total imports, respectively. Romania (X tons) ranks next in terms of the total imports with a X% share, followed by Slovakia (X%), Hungary (X%) and Russia (X%). Bulgaria (X tons) and Latvia (X tons) took a relatively small share of total imports.

From 2012 to 2023, the biggest increases were recorded for Latvia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Hungary ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Romania, Slovakia, Russia, Bulgaria and Latvia lagged somewhat behind, together comprising a further X%.

Latvia, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Hungary ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Romania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform