Croatia: Explosives Market 2024

Explosives Market Size in Croatia

The Croatian explosives market reduced to $X in 2021, which is down by -5.4% against the previous year. In general, consumption, however, recorded a resilient expansion. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Explosives Production in Croatia

In value terms, explosives production expanded notably to $X in 2021 estimated in export price. In general, production, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2013 when the production volume increased by 84% against the previous year. Explosives production peaked in 2021 and is expected to retain growth in years to come.

Explosives Exports

Exports from Croatia

In 2021, approx. X tons of prepared explosives were exported from Croatia; increasing by 41% compared with the previous year. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 186,668%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, explosives exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 539,365% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

Exports by Country

Serbia (X tons) was the main destination for explosives exports from Croatia, accounting for a 66% share of total exports. Moreover, explosives exports to Serbia exceeded the volume sent to the second major destination, Slovenia (X tons), fourfold. Bosnia and Herzegovina (X tons) ranked third in terms of total exports with a 13% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to Serbia amounted to +206.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+6.1% per year) and Bosnia and Herzegovina (+18.9% per year).

In value terms, Serbia ($X) emerged as the key foreign market for prepared explosives exports from Croatia, comprising 63% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with an 18% share of total exports. It was followed by Slovenia, with a 16% share.

From 2013 to 2021, the average annual rate of growth in terms of value to Serbia amounted to +246.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+22.9% per year) and Slovenia (+4.4% per year).

Export Prices by Country

The average explosives export price stood at $X per ton in 2021, shrinking by -4.1% against the previous year. Overall, export price indicated a strong expansion from 2013 to 2021: its price increased at an average annual rate of +14.0% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, explosives export price increased by +17.9% against 2016 indices. The growth pace was the most rapid in 2014 when the average export price increased by 189%. The export price peaked at $X per ton in 2020, and then dropped in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Explosives Imports

Imports into Croatia

For the fourth consecutive year, Croatia recorded growth in overseas purchases of prepared explosives, which increased by 20% to X tons in 2021. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2014 when imports increased by 30% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, explosives imports skyrocketed to $X in 2021. In general, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2014 when imports increased by 56%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, Italy (X tons) constituted the largest explosives supplier to Croatia, with a 64% share of total imports. Moreover, explosives imports from Italy exceeded the figures recorded by the second-largest supplier, Spain (X tons), sixfold. The third position in this ranking was held by Bosnia and Herzegovina (X tons), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled +60.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+143.7% per year) and Bosnia and Herzegovina (-5.0% per year).

In value terms, Italy ($X) constituted the largest supplier of prepared explosives to Croatia, comprising 51% of total imports. The second position in the ranking was taken by Spain ($X), with a 22% share of total imports. It was followed by Romania, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +55.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+158.1% per year) and Romania (+1.3% per year).

Import Prices by Country

In 2021, the average explosives import price amounted to $X per ton, with a decrease of -2.3% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.1%. The growth pace was the most rapid in 2014 when the average import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Bosnia and Herzegovina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+26.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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