Serbia: Winding Wire Market 2024

Winding Wire Market Size in Serbia

In 2022, the Serbian winding wire market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Winding Wire Production in Serbia

In value terms, winding wire production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. Winding wire production peaked in 2022 and is likely to see steady growth in years to come.

Winding Wire Exports

Exports from Serbia

In 2022, shipments abroad of winding wire for electrical purposes increased by X% to X tons, rising for the seventh consecutive year after two years of decline. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, winding wire exports expanded sharply to $X in 2022. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for winding wire exports from Serbia, accounting for a X% share of total exports. Moreover, winding wire exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), twofold. The third position in this ranking was taken by Hungary (X tons), with a X% share.

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

In value terms, Italy ($X) remains the key foreign market for winding wire for electrical purposes exports from Serbia, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with an X% share of total exports. It was followed by Hungary, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Hungary (X% per year).

Export Prices by Country

In 2022, the average winding wire export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Turkey ($X per ton), while the average price for exports to the Czech Republic ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Winding Wire Imports

Imports into Serbia

After three years of decline, overseas purchases of winding wire for electrical purposes increased by X% to X tons in 2022. In general, imports, however, continue to indicate a slight setback. The pace of growth appeared the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, winding wire imports expanded remarkably to $X in 2022. Over the period under review, imports continue to indicate perceptible growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest winding wire supplier to Serbia, accounting for a X% share of total imports. Moreover, winding wire imports from Germany exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. The third position in this ranking was taken by Slovenia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Slovenia (X% per year).

In value terms, Germany ($X) constituted the largest supplier of winding wire for electrical purposes to Serbia, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Austria, with a X% share.

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

Import Prices by Country

In 2022, the average winding wire import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, import price indicated a temperate increase from 2012 to 2022: its price 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, winding wire import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Germany ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform