Estonia: Market for Raw Steel And Steel Semi-Finished Products 2024

Market Size for Raw Steel And Steel Semi-Finished Products in Estonia

In 2022, the Estonian market for raw steel and steel semi-finished products was finally on the rise to reach $X after two years of decline. In general, consumption, however, continues to indicate a perceptible slump. Consumption of peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Raw Steel And Steel Semi-Finished Products in Estonia

In value terms, production of raw steel and steel semi-finished products fell to $X in 2022 estimated in export price. Over the period under review, production saw a precipitous slump. The most prominent rate of growth was recorded in 2014 with an increase of X,500% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Raw Steel And Steel Semi-Finished Products

Exports from Estonia

For the third consecutive year, Estonia recorded growth in shipments abroad of raw steel and steel semi-finished products, which increased by X% to X tons in 2022. Overall, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of raw steel and steel semi-finished products skyrocketed to $X in 2022. In general, exports, however, faced a abrupt contraction. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Finland (X tons) was the main destination for exports of raw steel and steel semi-finished products from Estonia, accounting for a X% share of total exports. Moreover, exports of raw steel and steel semi-finished products to Finland exceeded the volume sent to the second major destination, Lithuania (X tons), twofold. The third position in this ranking was held by the UK (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Finland stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lithuania (X% per year) and the UK (X.4% per year).

In value terms, the largest markets for raw steel and steel semi-finished products exported from Estonia were Finland ($X), the UK ($X) and Sweden ($X), together comprising X% of total exports.

In terms of the main countries of destination, the UK, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for raw steel and steel semi-finished products stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Lithuania ($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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Raw Steel And Steel Semi-Finished Products

Imports into Estonia

In 2022, approx. X tons of raw steel and steel semi-finished products were imported into Estonia; increasing by X% on the year before. In general, imports, however, recorded a perceptible descent. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, imports of raw steel and steel semi-finished products skyrocketed to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Lithuania (X tons), China (X tons) and Russia (X tons) were the main suppliers of imports of raw steel and steel semi-finished products to Estonia, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Azerbaijan ($X) constituted the largest supplier of raw steel and steel semi-finished products to Estonia, comprising X% of total imports. The second position in the ranking was taken by Lithuania ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Azerbaijan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the average import price for raw steel and steel semi-finished products amounted to $X per ton, increasing by X% against the previous year. Overall, the import price showed resilient growth. 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 Azerbaijan ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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