Serbia: Baby Garment Market 2024

Baby Garment Market Size in Serbia

The Serbian baby garment market rose markedly to $X in 2022, growing by 13% against the previous year. Over the period under review, consumption enjoyed a prominent expansion. Baby garment consumption peaked in 2022 and is likely to see steady growth in the near future.

Baby Garment Production in Serbia

In value terms, baby garment production skyrocketed to $X in 2022 estimated in export price. Overall, production continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 with an increase of 79%. Baby garment production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Baby Garment Exports

Exports from Serbia

In 2022, the amount of babies’ garments and clothing accessories (knitted or crocheted) exported from Serbia reduced to X units, with a decrease of -4.6% compared with the previous year's figure. Over the period under review, total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +20.7% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 46% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, baby garment exports fell to $X in 2022. The total export value increased at an average annual rate of +4.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 47% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Bosnia and Herzegovina (X units) was the main destination for baby garment exports from Serbia, accounting for a 30% share of total exports. Moreover, baby garment exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, North Macedonia (X units), twofold. The third position in this ranking was held by Albania (X units), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina totaled +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+6.3% per year) and Albania (+66.4% per year).

In value terms, Germany ($X), Bosnia and Herzegovina ($X) and Italy ($X) were the largest markets for baby garment exported from Serbia worldwide, together accounting for 62% of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +80.7%, recorded the highest growth rate of 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 baby garment export price stood at $X per unit in 2022, falling by -10.9% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 15%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Baby Garment Imports

Imports into Serbia

In 2022, approx. X units of babies’ garments and clothing accessories (knitted or crocheted) were imported into Serbia; growing by 9% compared with the year before. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 208%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, baby garment imports soared to $X in 2022. Overall, imports continue to indicate a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 226%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Turkey (X units), Bangladesh (X units) and China (X units) were the main suppliers of baby garment imports to Serbia, with a combined 85% 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 Turkey (with a CAGR of +33.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest baby garment suppliers to Serbia were Turkey ($X), Bangladesh ($X) and China ($X), together comprising 83% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +40.3%, recorded the highest growth rate of 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 baby garment import price amounted to $X per unit, rising by 5.6% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 14%. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Cambodia ($X per unit), while the price for Bangladesh ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform