Serbia: Market for Ammonia In Aqueous Solution 2024

Market Size for Ammonia In Aqueous Solution in Serbia

The Serbian ammonia in aqueous solution market skyrocketed to $X in 2022, with an increase of X% against the previous year. Overall, consumption continues to indicate a resilient expansion. Ammonia in aqueous solution consumption peaked in 2022 and is likely to see gradual growth in the near future.

Production of Ammonia In Aqueous Solution in Serbia

In value terms, ammonia in aqueous solution production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X%. Ammonia in aqueous solution production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Ammonia In Aqueous Solution

Exports from Serbia

In 2022, exports of ammonia in aqueous solution from Serbia rose remarkably to X tons, picking up by X% compared with the previous year. Overall, exports, however, recorded a precipitous contraction. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, ammonia in aqueous solution exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for ammonia in aqueous solution exports from Serbia, accounting for a X% share of total exports. Moreover, ammonia in aqueous solution exports to North Macedonia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to North Macedonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (X% per year) and Montenegro (X% per year).

In value terms, North Macedonia ($X) remains the key foreign market for ammonia in aqueous solution exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to North Macedonia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (X% per year) and Montenegro (X% per year).

Export Prices by Country

In 2022, the average ammonia in aqueous solution export price amounted to $X per ton, jumping by X% against the previous year. In general, the export price saw significant growth. The pace of growth was the most pronounced in 2019 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 North Macedonia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Ammonia In Aqueous Solution

Imports into Serbia

In 2022, purchases abroad of ammonia in aqueous solution was finally on the rise to reach X tons after two years of decline. Over the period under review, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, ammonia in aqueous solution imports soared to $X in 2022. In general, imports showed a significant increase. The growth pace was the most rapid in 2017 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Romania (X tons), Bulgaria (X tons) and Slovakia (X tons) were the main suppliers of ammonia in aqueous solution imports to Serbia, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of X.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ammonia in aqueous solution suppliers to Serbia were Romania ($X), Bulgaria ($X) and Slovakia ($X), with a combined X% share of total imports.

In terms of the main suppliers, Bulgaria, with a CAGR of X.9%, 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 ammonia in aqueous solution import price amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price, however, continues to indicate a moderate expansion. The pace of growth appeared the most rapid in 2013 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Romania ($X per ton) and Hungary ($X per ton), while the price for Croatia ($X per ton) and Slovakia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform