Serbia: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Serbia

In 2022, the Serbian machinery electrical parts market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Machinery electrical parts consumption peaked at $X in 2021, and then declined in the following year.

Machinery Electrical Parts Production in Serbia

In value terms, machinery electrical parts production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Machinery Electrical Parts Exports

Exports from Serbia

In 2022, machinery electrical parts exports from Serbia surged to X tons, rising by X% against the previous year's figure. Overall, exports, however, recorded a pronounced reduction. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, machinery electrical parts exports soared to $X in 2022. In general, exports, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Slovakia (X tons) was the main destination for machinery electrical parts exports from Serbia, with a X% share of total exports. Moreover, machinery electrical parts exports to Slovakia exceeded the volume sent to the second major destination, Slovenia (X tons), threefold. The third position in this ranking was held by Singapore (X tons), with a X% share.

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

In value terms, the largest markets for machinery electrical parts exported from Serbia were Slovakia ($X), Slovenia ($X) and Singapore ($X), together comprising X% of total exports. Austria and Montenegro lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Montenegro, 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

In 2022, the average machinery electrical parts export price amounted to $X per ton, declining by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2021, and then fell in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Austria ($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 Singapore (X%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery Electrical Parts Imports

Imports into Serbia

After four years of growth, supplies from abroad of electrical parts of machinery or apparatus decreased by X% to X tons in 2022. Overall, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2015 when imports increased by X%. Imports peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, machinery electrical parts imports declined slightly to $X in 2022. Over the period under review, imports, however, posted significant growth. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

Romania (X tons), China (X kg) and Germany (X kg) were the main suppliers of machinery electrical parts imports to Serbia, with a combined X% share of total imports. Turkey, Hungary, India and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of electrical parts of machinery or apparatus to Serbia, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with an X% share of total imports. It was followed by Romania, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Romania (X% per year).

Import Prices by Country

The average machinery electrical parts import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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