Croatia: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Croatia

In 2021, the Croatian market for instruments for measuring electrical quantities increased by 21% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +49.3% against 2019 indices. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Production of Instruments for Measuring Electrical Quantities in Croatia

In value terms, instruments for measuring electrical quantities production soared to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a notable increase. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Instruments for Measuring Electrical Quantities

Exports from Croatia

In 2021, exports of instruments for measuring electrical quantities from Croatia dropped notably to X units, which is down by -24.5% against 2020 figures. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 577% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, instruments for measuring electrical quantities exports declined sharply to $X in 2021. Over the period under review, exports saw a slight decline. The pace of growth appeared the most rapid in 2019 when exports increased by 282% against the previous year. The exports peaked at $X in 2020, and then declined markedly in the following year.

Exports by Country

Bosnia and Herzegovina (X units) was the main destination for instruments for measuring electrical quantities exports from Croatia, with a 49% share of total exports. Moreover, instruments for measuring electrical quantities exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Serbia (X units), fivefold. The third position in this ranking was held by Slovenia (X units), with a 7.3% share.

From 2012 to 2021, the average annual growth rate of volume to Bosnia and Herzegovina totaled +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-21.7% per year) and Slovenia (-7.5% per year).

In value terms, Bosnia and Herzegovina ($X), the UK ($X) and Tanzania ($X) constituted the largest markets for instruments for measuring electrical quantities exported from Croatia worldwide, together comprising 46% of total exports.

In terms of the main countries of destination, Tanzania, with a CAGR of +80.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, reducing by -18.1% against the previous year. Overall, the export price, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 143% against the previous year. As a result, the export price attained the peak level of $X per unit, and then shrank remarkably in the following year.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was the UK ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+31.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Croatia

In 2021, overseas purchases of instruments for measuring electrical quantities increased by 12% to X units, rising for the second year in a row after three years of decline. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 32% against the previous year. As a result, imports reached the peak of X units. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, instruments for measuring electrical quantities imports surged to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2014; afterwards, it flattened through to 2021.

Imports by Country

Germany (X units), China (X units) and Slovenia (X units) were the main suppliers of instruments for measuring electrical quantities imports to Croatia, with a combined 70% share of total imports. Poland, the Czech Republic, Italy and Austria lagged somewhat behind, together comprising a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +68.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest instruments for measuring electrical quantities suppliers to Croatia were Germany ($X), Slovenia ($X) and Italy ($X), together comprising 66% of total imports. China, Austria, the Czech Republic and Poland lagged somewhat behind, together comprising a further 19%.

In terms of the main suppliers, Poland, with a CAGR of +77.3%, saw 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

The average import price for instruments for measuring electrical quantities stood at $X per unit in 2021, surging by 4.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2015 an increase of 27%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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