Croatia: Tools For Bearing Market 2024

Tools For Bearing Market Size in Croatia

In 2022, the Croatian tools for bearing market decreased by -1.2% to $X, falling for the fourth year in a row after two years of growth. Over the period under review, consumption recorded a pronounced slump. Tools for bearing consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Tools For Bearing Production in Croatia

In value terms, tools for bearing production soared to $X in 2022 estimated in export price. Overall, production recorded a sharp shrinkage. Tools for bearing production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Tools For Bearing Exports

Exports from Croatia

In 2022, tools for bearing exports from Croatia declined markedly to X tons, which is down by -46.1% compared with the year before. Over the period under review, exports saw a dramatic descent. The most prominent rate of growth was recorded in 2013 with an increase of 15% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tools for bearing exports dropped notably to $X in 2022. Overall, exports recorded a precipitous slump. The growth pace was the most rapid in 2020 with an increase of 3.3% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Finland (X tons), Slovenia (X tons) and Denmark (X kg) were the main destinations of tools for bearing exports from Croatia, with a combined 96% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +125.5%), while the other leaders experienced mixed trend patterns.

In value terms, Finland ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from Croatia, comprising 70% of total exports. The second position in the ranking was taken by Slovenia ($X), with a 14% share of total exports. It was followed by Denmark, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Finland totaled -9.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+117.1% per year) and Denmark (+64.7% per year).

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, falling by -33.8% against the previous year. Overall, the export price, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2019 an increase of 77% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then reduced rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Slovenia ($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 Germany (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Croatia

In 2022, tools for bearing imports into Croatia declined slightly to X tons, with a decrease of -1.8% on 2021. In general, imports, however, continue to indicate a mild increase. The most prominent rate of growth was recorded in 2016 with an increase of 69% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, tools for bearing imports stood at $X in 2022. Over the period under review, imports, however, enjoyed noticeable growth. The pace of growth appeared the most rapid in 2013 with an increase of 229%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Slovenia (X tons) constituted the largest tools for bearing supplier to Croatia, accounting for a 36% share of total imports. Moreover, tools for bearing imports from Slovenia exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Slovenia totaled +27.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.7% per year) and Italy (-12.8% per year).

In value terms, the largest tools for bearing suppliers to Croatia were Germany ($X), Slovenia ($X) and Italy ($X), with a combined 46% share of total imports. Hungary, Poland, France and China lagged somewhat behind, together accounting for a further 28%.

Among the main suppliers, Poland, with a CAGR of +32.4%, 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 tools for bearing import price amounted to $X per ton, surging by 5.5% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tools for bearing import price decreased by -23.4% against 2017 indices. The most prominent rate of growth was recorded in 2013 an increase of 101%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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