Greece: Spades And Shovels Market 2024

Spades And Shovels Market Size in Greece

The Greek spades and shovels market surged to $X in 2021, growing by 40% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +11.2% 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 +34.0% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Spades And Shovels Exports

Exports from Greece

In 2021, overseas shipments of spades and shovels increased by 204% to X tons, rising for the seventh year in a row after two years of decline. Over the period under review, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, spades and shovels exports skyrocketed to $X in 2021. In general, exports recorded significant growth. The growth pace was the most rapid in 2016 when exports increased by 142% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Bulgaria (X tons) was the main destination for spades and shovels exports from Greece, with a 48% share of total exports. Moreover, spades and shovels exports to Bulgaria exceeded the volume sent to the second major destination, Poland (X tons), fivefold. Romania (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bulgaria amounted to +106.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (0.0% per year) and Romania (+54.2% per year).

In value terms, the largest markets for spades and shovels exported from Greece were Bulgaria ($X), Romania ($X) and Italy ($X), together accounting for 57% of total exports. The Czech Republic, Cyprus, Germany, Spain and Poland lagged somewhat behind, together comprising a further 34%.

The Czech Republic, with a CAGR of +531.7%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average spades and shovels export price stood at $X per ton in 2021, which is down by -32% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The growth pace was the most rapid in 2013 when the average export price increased by 128%. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (+21.1%), while the prices for the other major destinations experienced more modest paces of growth.

Spades And Shovels Imports

Imports into Greece

In 2021, spades and shovels imports into Greece surged to X tons, growing by 49% against 2020 figures. Over the period under review, imports showed a resilient expansion. The pace of growth was the most pronounced in 2013 with an increase of 55% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

In value terms, spades and shovels imports soared to $X in 2021. Overall, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest spades and shovels supplier to Greece, with a 56% share of total imports. Moreover, spades and shovels imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +49.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.7% per year) and the Netherlands (+70.8% per year).

In value terms, the largest spades and shovels suppliers to Greece were Germany ($X), China ($X) and the Netherlands ($X), together comprising 74% of total imports. Spain, France, Austria, Turkey, Brazil and Italy lagged somewhat behind, together accounting for a further 21%.

Turkey, with a CAGR of +189.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average spades and shovels import price stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a mild slump. The pace of growth appeared the most rapid in 2014 an increase of 51% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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