Luxembourg: Urea Market 2024

Urea Market Size in Luxembourg

In 2023, after two years of growth, there was significant decline in the Luxembourg urea market, when its value decreased by X% to $X. In general, consumption, however, enjoyed a pronounced increase. Over the period under review, the market reached the peak level at $X in 2022, and then contracted dramatically in the following year.

Urea Exports

Exports from Luxembourg

After two years of growth, overseas shipments of urea decreased by X% to X tons in 2023. Overall, exports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons, and then contracted remarkably in the following year.

In value terms, urea exports fell dramatically to $X in 2023. In general, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Belgium (X tons) was the main destination for urea exports from Luxembourg, accounting for a X% share of total exports. Moreover, urea exports to Belgium exceeded the volume sent to the second major destination, France (X tons), more than tenfold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual growth rate of volume to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Germany (X% per year).

In value terms, Belgium ($X) remains the key foreign market for urea exports from Luxembourg, comprising X% of total exports. The second position in the ranking was taken by France ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Belgium stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Germany (X% per year).

Export Prices by Country

The average urea export price stood at $X per ton in 2023, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2023, amid the top suppliers, the countries with the highest prices were Belgium ($X per ton) and Germany ($X per ton), while the average price for exports to France ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Urea Imports

Imports into Luxembourg

After two years of growth, overseas purchases of urea decreased by X% to X tons in 2023. In general, imports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, urea imports reduced remarkably to $X in 2023. Overall, imports, however, showed pronounced growth. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then reduced sharply in the following year.

Imports by Country

In 2023, the Netherlands (X tons) constituted the largest urea supplier to Luxembourg, accounting for a X% share of total imports. Moreover, urea imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from the Netherlands totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Poland (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of urea to Luxembourg, comprising X% of total imports. The second position in the ranking was taken by Belgium ($X), with a X% share of total imports. It was followed by Poland, with a X% share.

From 2012 to 2023, the average annual growth rate of value from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Poland (X% per year).

Import Prices by Country

The average urea import price stood at $X per ton in 2023, picking up by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2023, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were Poland ($X per ton) and France ($X per ton), while the price for Belgium ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform