Serbia: Bumper Market 2025

Bumper Market Size in Serbia

The Serbian bumper market fell significantly to $X in 2022, with a decrease of -26.1% 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). In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined sharply in the following year.

Bumper Exports

Exports from Serbia

In 2022, the amount of bumpers exported from Serbia skyrocketed to X tons, growing by 42% compared with 2021 figures. Over the period under review, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2013 when exports increased by 105% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, bumper exports skyrocketed to $X in 2022. Overall, exports showed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 153%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Italy (X tons) was the main destination for bumper exports from Serbia, accounting for a 74% share of total exports. Moreover, bumper exports to Italy exceeded the volume sent to the second major destination, Egypt (X tons), more than tenfold. The third position in this ranking was taken by Mauritania (X tons), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at +40.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+10.7% per year) and Mauritania (+41.3% per year).

In value terms, Italy ($X) remains the key foreign market for bumpers exports from Serbia, comprising 77% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 7.6% share of total exports. It was followed by Montenegro, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +44.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+38.4% per year) and Montenegro (+14.3% per year).

Export Prices by Country

In 2022, the average bumper export price amounted to $X per ton, rising by 5.1% against the previous year. Overall, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +8.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bumper export price increased by +61.4% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by 73% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Montenegro ($X per ton), while the average price for exports to Mauritania ($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 Bulgaria (+28.1%), while the prices for the other major destinations experienced more modest paces of growth.

Bumper Imports

Imports into Serbia

Bumper imports into Serbia declined slightly to X tons in 2022, dropping by -4.5% against the year before. Overall, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +19.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. As a result, imports attained the peak of X tons, and then reduced slightly in the following year.

In value terms, bumper imports reached $X in 2022. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 45% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X tons), Italy (X tons) and Turkey (X tons) were the main suppliers of bumper imports to Serbia, together comprising 56% of total imports. Taiwan (Chinese), Germany, Spain, the Czech Republic, South Korea, Poland, Slovenia and France lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +43.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bumper suppliers to Serbia were Taiwan (Chinese) ($X), China ($X) and Germany ($X), together accounting for 40% of total imports.

China, with a CAGR of +44.2%, recorded the highest growth rate of 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

In 2022, the average bumper import price amounted to $X per ton, with an increase of 5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2021 an increase of 16% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform