Serbia: Athletic Footwear Market 2025

Athletic Footwear Market Size in Serbia

The Serbian athletic footwear market was estimated at $X in 2022, picking up by 1.7% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.9% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Athletic Footwear Production in Serbia

In value terms, athletic footwear production rose rapidly to $X in 2022 estimated in export price. Over the period under review, production posted buoyant growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 39% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Athletic Footwear Exports

Exports from Serbia

For the third consecutive year, Serbia recorded decline in shipments abroad of athletic footwear, which decreased by -12% to X pairs in 2022. In general, exports, however, showed a strong expansion. The growth pace was the most rapid in 2016 with an increase of 110% against the previous year. As a result, the exports reached the peak of X pairs. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, athletic footwear exports dropped to $X in 2022. Overall, exports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 80%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X pairs) was the main destination for athletic footwear exports from Serbia, with a 58% share of total exports. Moreover, athletic footwear exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, North Macedonia (X pairs), threefold. The third position in this ranking was held by Montenegro (X pairs), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina amounted to +40.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+53.4% per year) and Montenegro (+6.0% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for athletic footwear exports from Serbia, comprising 56% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 17% share of total exports. It was followed by Montenegro, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina totaled +44.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+58.3% per year) and Montenegro (+10.4% per year).

Export Prices by Country

The average athletic footwear export price stood at $X per pair in 2022, growing by 8.4% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The pace of growth appeared the most rapid in 2018 when the average export price increased by 29%. As a result, the export price reached the peak level of $X per pair. From 2019 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Croatia ($X per pair) and Montenegro ($X per pair), while the average price for exports to Albania ($X per pair) and Bosnia and Herzegovina ($X per pair) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Athletic Footwear Imports

Imports into Serbia

In 2022, supplies from abroad of athletic footwear decreased by -32% to X pairs for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, saw a notable increase. The most prominent rate of growth was recorded in 2019 when imports increased by 119%. Imports peaked at X pairs in 2021, and then reduced markedly in the following year.

In value terms, athletic footwear imports fell rapidly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 34%. Imports peaked at $X in 2021, and then dropped notably in the following year.

Imports by Country

In 2022, China (X pairs) constituted the largest athletic footwear supplier to Serbia, accounting for a 50% share of total imports. Moreover, athletic footwear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X pairs), threefold. Bangladesh (X pairs) ranked third in terms of total imports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+4.7% per year) and Bangladesh (+90.0% per year).

In value terms, the largest athletic footwear suppliers to Serbia were Vietnam ($X), China ($X) and Indonesia ($X), with a combined 80% share of total imports. Bangladesh, India, Turkey and Myanmar lagged somewhat behind, together comprising a further 15%.

Myanmar, with a CAGR of +128.2%, recorded the highest rates of growth with regard to the value of imports, among 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 athletic footwear import price stood at $X per pair in 2022, picking up by 12% against the previous year. Overall, the import price, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 when the average import price increased by 14%. Over the period under review, average import prices reached the maximum at $X per pair in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Indonesia ($X per pair), while the price for Turkey ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform