Key Market Indicators
Belarus's nickel import is projected to decline to approximately $6.7 million by 2028, down from around $7.1 million in 2023. This represents a 0.8% decrease annually on a compound average growth rate (CAGR) basis. The country's demand for nickel has been on a downward trajectory since 2003, with an average annual decrease of 1.6%. Conversely, Belarus's nickel export is expected to rise to about $830,000 by 2028, up from roughly $750,000 in 2023. This marks an annual growth rate of 1.6% on average. Historically, the nation's nickel supply has seen a slight annual decline of 0.3% since 2003. In 2023, Belarus ranked 56th in global nickel exports, with Cyprus surpassing it at the same value of $750,000. Leading the rankings were Canada, Russia, and Malaysia, occupying the second, third, and fourth spots respectively.
