Serbia: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Serbia

The Serbian industrial sewing machines (non-automatic) market reduced remarkably to $X in 2022, with a decrease of -28% against the previous year. Overall, consumption, however, continues to indicate a tangible increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Industrial Sewing Machines (Non-Automatic) in Serbia

In value terms, industrial sewing machines (non-automatic) production amounted to $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 2,039,301,500% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a somewhat lower figure.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Serbia

In 2022, industrial sewing machines (non-automatic) exports from Serbia rose markedly to X units, with an increase of 8.1% against the year before. Overall, exports saw prominent growth. The growth pace was the most rapid in 2019 with an increase of 148%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, industrial sewing machines (non-automatic) exports shrank notably to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 92%. As a result, the exports attained the peak of $X, and then contracted sharply in the following year.

Exports by Country

Bosnia and Herzegovina (X units), Croatia (X units) and Germany (X units) were the main destinations of industrial sewing machines (non-automatic) exports from Serbia, with a combined 83% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of +50.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), Croatia ($X) and Turkey ($X) appeared to be the largest markets for industrial sewing machines (non-automatic) exported from Serbia worldwide, with a combined 79% share of total exports.

Turkey, with a CAGR of +43.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial sewing machines (non-automatic) export price stood at $X per unit in 2022, declining by -36.7% against the previous year. Overall, the export price saw a abrupt curtailment. The pace of growth appeared the most rapid in 2013 an increase of 19% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Moldova ($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 Turkey (+9.1%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Serbia

In 2022, the amount of industrial sewing machines (non-automatic) imported into Serbia shrank notably to X units, dropping by -28.2% against 2021 figures. In general, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +7.0% against 2020 indices. The pace of growth was the most pronounced in 2013 when imports increased by 110%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, industrial sewing machines (non-automatic) imports contracted rapidly to $X in 2022. Overall, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +7.3% against 2020 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 81%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest industrial sewing machines (non-automatic) supplier to Serbia, accounting for a 47% share of total imports. Moreover, industrial sewing machines (non-automatic) imports from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X units), fourfold. The third position in this ranking was held by Italy (X units), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +30.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+15.1% per year) and Italy (-1.4% per year).

In value terms, the largest industrial sewing machines (non-automatic) suppliers to Serbia were China ($X), the Czech Republic ($X) and Italy ($X), together accounting for 65% of total imports. Germany, Japan, Turkey, Vietnam and India lagged somewhat behind, together comprising a further 22%.

In terms of the main suppliers, India, with a CAGR of +41.9%, 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

The average industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, with an increase of 3.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 27% against the previous year. Over the period under review, average import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat 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 Japan ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+10.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform