Serbia: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Serbia

In 2022, the Serbian market for instruments for measuring electrical quantities decreased by X% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from Serbia

In 2022, shipments abroad of instruments for measuring electrical quantities increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, instruments for measuring electrical quantities exports shrank notably to $X in 2022. Overall, exports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then fell significantly in the following year.

Exports by Country

Bosnia and Herzegovina (X units), Italy (X units) and Slovenia (X units) were the main destinations of instruments for measuring electrical quantities exports from Serbia, with a combined X% share of total exports. The United States, Belgium, Spain, the Netherlands, Montenegro and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for instruments for measuring electrical quantities exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Belgium ($X), with a X% share of total exports. It was followed by Slovenia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (X% per year) and Slovenia (X% per year).

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2022, with a decrease of X% against the previous year. In general, the export price continues to indicate a perceptible reduction. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 the United States ($X per unit), while the average price for exports to Bosnia and Herzegovina ($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 Spain (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Serbia

In 2022, approx. X units of instruments for measuring electrical quantities were imported into Serbia; falling by X% against the previous year. Overall, imports, however, recorded a moderate expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, instruments for measuring electrical quantities imports rose to $X in 2022. Over the period under review, total imports indicated measured growth 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of instruments for measuring electrical quantities to Serbia, accounting for a X% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Spain (X units) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X), Germany ($X) and Italy ($X) were the largest instruments for measuring electrical quantities suppliers to Serbia, together comprising X% of total imports. Sweden, Hungary, Taiwan (Chinese), Spain, Slovenia, Poland, Austria and France lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for instruments for measuring electrical quantities amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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 Hungary ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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