Serbia: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in Serbia

In 2022, after two years of growth, there was significant decline in the Serbian market for footwear with uppers of textile materials, when its value decreased by -18.1% to $X. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then dropped rapidly in the following year.

Production of Footwear with Uppers of Textile Materials in Serbia

In value terms, production of footwear with uppers of textile materials shrank sharply to $X in 2022 estimated in export price. Over the period under review, production, however, posted a buoyant expansion. The growth pace was the most rapid in 2020 when the production volume increased by 535%. Production of peaked at $X in 2021, and then fell rapidly in the following year.

Exports of Footwear with Uppers of Textile Materials

Exports from Serbia

In 2022, overseas shipments of footwear with uppers of textile materials increased by 10% to X pairs, rising for the fourth consecutive year after two years of decline. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 72% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, exports of footwear with uppers of textile materials reached $X in 2022. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 105% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X pairs) was the main destination for exports of footwear with uppers of textile materials from Serbia, with a 32% share of total exports. Moreover, exports of footwear with uppers of textile materials to Italy exceeded the volume sent to the second major destination, Montenegro (X pairs), twofold. The third position in this ranking was taken by Bosnia and Herzegovina (X pairs), with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Italy stood at +22.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (+14.8% per year) and Bosnia and Herzegovina (+19.0% per year).

In value terms, Italy ($X) remains the key foreign market for footwear with uppers of textile materials exports from Serbia, comprising 44% of total exports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with a 16% share of total exports. It was followed by Montenegro, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value to Italy amounted to +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+20.7% per year) and Montenegro (+6.5% per year).

Export Prices by Country

The average export price for footwear with uppers of textile materials stood at $X per pair in 2022, which is down by -8.5% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the average export price increased by 45% against the previous year. Over the period under review, the average export prices hit record highs at $X per pair in 2018; however, from 2019 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 Romania ($X per pair), while the average price for exports to Poland ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports into Serbia

In 2022, supplies from abroad of footwear with uppers of textile materials increased by 21% to X pairs, rising for the seventh consecutive year after three years of decline. In general, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 43%. Over the period under review, imports of attained the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, imports of footwear with uppers of textile materials rose rapidly to $X in 2022. Overall, imports saw temperate growth. The most prominent rate of growth was recorded in 2021 with an increase of 49% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X pairs) constituted the largest supplier of footwear with uppers of textile materials to Serbia, with a 76% share of total imports. Moreover, imports of footwear with uppers of textile materials from China exceeded the figures recorded by the second-largest supplier, Turkey (X pairs), ninefold. Myanmar (X pairs) ranked third in terms of total imports with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+39.9% per year) and Myanmar (+112.1% per year).

In value terms, China ($X) constituted the largest supplier of footwear with uppers of textile materials to Serbia, comprising 54% of total imports. The second position in the ranking was held by Vietnam ($X), with a 12% share of total imports. It was followed by Italy, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+4.0% per year) and Italy (+8.0% per year).

Import Prices by Country

The average import price for footwear with uppers of textile materials stood at $X per pair in 2022, with a decrease of -12.6% against the previous year. Over the period under review, the import price recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2014 an increase of 52%. Over the period under review, average import prices hit record highs at $X per pair in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+16.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform