Serbia: Market for Machine Tools For Working Metal 2024

Market Size for Machine Tools For Working Metal in Serbia

The Serbian machine-tool for working metal market contracted markedly to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, recorded a resilient increase. Over the period under review, the market hit record highs at $X in 2021, and then dropped notably in the following year.

Production of Machine Tools For Working Metal in Serbia

In value terms, machine-tool for working metal production fell markedly to $X in 2022 estimated in export price. Overall, production, however, enjoyed a strong increase. The growth pace was the most rapid in 2021 with an increase of X%. As a result, production attained the peak level of $X, and then contracted notably in the following year.

Exports of Machine Tools For Working Metal

Exports from Serbia

In 2022, the amount of machine tools for working metal exported from Serbia surged to X units, picking up by X% compared with 2021. In general, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, machine-tool for working metal exports amounted to $X in 2022. Overall, exports, however, showed a mild decline. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Bosnia and Herzegovina (X units), Bulgaria (X units) and Poland (X units) were the main destinations of machine-tool for working metal exports from Serbia, with a combined X% share of total exports. Hungary, Russia, Germany, Turkey, Greece, North Macedonia, Italy, Slovenia, Croatia and Montenegro lagged somewhat behind, together comprising 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 Turkey (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for machine tools for working metal exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Hungary ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

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

Export Prices by Country

The average machine-tool for working metal export price stood at $X per unit in 2022, shrinking by X% against the previous year. In general, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the average export prices remained at a somewhat 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 Slovenia ($X per unit), while the average price for exports to Bulgaria ($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 Turkey (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal

Imports into Serbia

In 2022, after five years of growth, there was significant decline in supplies from abroad of machine tools for working metal, when their volume decreased by X% to X units. Overall, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then declined dramatically in the following year.

In value terms, machine-tool for working metal imports declined notably to $X in 2022. Over the period under review, imports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then declined significantly in the following year.

Imports by Country

In 2022, China (X units) constituted the largest supplier of machine-tool for working metal to Serbia, with a X% share of total imports. Moreover, machine-tool for working metal imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. The third position in this ranking was taken by Italy (X units), with a X% share.

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

In value terms, China ($X), Germany ($X) and Italy ($X) were the largest machine-tool for working metal suppliers to Serbia, with a combined X% share of total imports.

Among the main suppliers, China, with a CAGR of X%, recorded the highest rates of growth with regard to 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 machine-tool for working metal import price amounted to $X per unit, dropping by X% against the previous year. In general, the import price recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of X%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per unit), while the price for China ($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 (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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