Serbia: Electric Sound Amplifier Market 2024

Electric Sound Amplifier Market Size in Serbia

The Serbian electric sound amplifier market stood at $X in 2022, approximately reflecting the previous year. Over the period under review, consumption, however, posted a noticeable expansion. Electric sound amplifier consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Electric Sound Amplifier Production in Serbia

In value terms, electric sound amplifier production reached $X in 2022 estimated in export price. Over the period under review, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 48% against the previous year. Electric sound amplifier production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electric Sound Amplifier Exports

Exports from Serbia

In 2022, approx. X units of electric sound amplifier sets were exported from Serbia; remaining relatively unchanged against the previous year. In general, exports recorded a pronounced slump. The pace of growth was the most pronounced in 2015 with an increase of 68% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, electric sound amplifier exports totaled $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +47.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 36%. 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

Russia (X units), Bosnia and Herzegovina (X units) and Germany (X units) were the main destinations of electric sound amplifier exports from Serbia, with a combined 47% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +28.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for electric sound amplifier exported from Serbia were the Netherlands ($X), Thailand ($X) and Hong Kong SAR ($X), with a combined 34% share of total exports. France, Germany, Russia, Bosnia and Herzegovina, the United States, Montenegro, Croatia, Slovenia, Switzerland and North Macedonia lagged somewhat behind, together comprising a further 41%.

Russia, with a CAGR of +42.2%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric sound amplifier export price stood at $X per unit in 2022, therefore, remained relatively stable against the previous year. Over the period under review, the export price recorded a remarkable increase. The growth pace was the most rapid in 2020 when the average export price increased by 63% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Russia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+42.5%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Sound Amplifier Imports

Imports into Serbia

In 2022, electric sound amplifier imports into Serbia skyrocketed to X units, growing by 58% on 2021 figures. Overall, imports showed slight growth. The most prominent rate of growth was recorded in 2017 when imports increased by 60%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, electric sound amplifier imports soared to $X in 2022. Over the period under review, imports, however, saw a slight decline. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of electric sound amplifier to Serbia, accounting for a 70% share of total imports. Moreover, electric sound amplifier imports from China exceeded the figures recorded by the second-largest supplier, Denmark (X units), tenfold. Indonesia (X units) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +35.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+48.6% per year) and Indonesia (+15.1% per year).

In value terms, China ($X) constituted the largest supplier of electric sound amplifier sets to Serbia, comprising 47% of total imports. The second position in the ranking was held by Italy ($X), with a 9.6% share of total imports. It was followed by Indonesia, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.8% per year) and Indonesia (+19.8% per year).

Import Prices by Country

The average electric sound amplifier import price stood at $X per unit in 2022, falling by -5.4% against the previous year. Overall, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2013 when the average import price increased by 54%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+38.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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