Serbia: Industrial Roundwood Market 2024

Industrial Roundwood Market Size in Serbia

The Serbian industrial roundwood market amounted to $X in 2022, picking up by 7.9% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Industrial Roundwood Production in Serbia

In value terms, industrial roundwood production totaled $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 34% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Industrial Roundwood Exports

Exports from Serbia

After two years of growth, overseas shipments of industrial roundwood decreased by -50.8% to X cubic meters in 2022. Over the period under review, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 106% against the previous year. Over the period under review, the exports reached the maximum at X cubic meters in 2021, and then reduced sharply in the following year.

In value terms, industrial roundwood exports reduced sharply to $X in 2022. Overall, exports, however, saw a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 104% against the previous year. As a result, the exports attained the peak of $X, and then dropped significantly in the following year.

Exports by Country

China (X cubic meters) was the main destination for industrial roundwood exports from Serbia, accounting for a 57% share of total exports. Moreover, industrial roundwood exports to China exceeded the volume sent to the second major destination, Turkey (X cubic meters), fourfold. The third position in this ranking was held by Bosnia and Herzegovina (X cubic meters), with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to +85.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+79.6% per year) and Bosnia and Herzegovina (+5.2% per year).

In value terms, China ($X) remains the key foreign market for industrial roundwood exports from Serbia, comprising 52% of total exports. The second position in the ranking was held by Turkey ($X), with a 15% share of total exports. It was followed by Slovenia, with a 7.5% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to +103.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+87.6% per year) and Slovenia (+5.5% per year).

Export Prices by Country

In 2022, the average industrial roundwood export price amounted to $X per cubic meter, jumping by 26% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood export price increased by +103.6% against 2013 indices. The pace of growth was the most pronounced in 2014 an increase of 46% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per cubic meter), while the average price for exports to Albania ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+73.1%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Roundwood Imports

Imports into Serbia

Industrial roundwood imports into Serbia fell notably to X cubic meters in 2022, dropping by -15.1% on the year before. Over the period under review, imports, however, saw a mild expansion. The growth pace was the most rapid in 2021 when imports increased by 37%. Over the period under review, imports reached the peak figure at X cubic meters in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, industrial roundwood imports reached $X in 2022. Overall, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.7% 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 +102.1% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 42% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Hungary (X cubic meters) constituted the largest industrial roundwood supplier to Serbia, accounting for a 65% share of total imports. Moreover, industrial roundwood imports from Hungary exceeded the figures recorded by the second-largest supplier, Croatia (X cubic meters), fourfold. Bosnia and Herzegovina (X cubic meters) ranked third in terms of total imports with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hungary totaled +44.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+20.4% per year) and Bosnia and Herzegovina (-5.6% per year).

In value terms, Croatia ($X), Hungary ($X) and Bosnia and Herzegovina ($X) were the largest industrial roundwood suppliers to Serbia, with a combined 94% share of total imports.

Among the main suppliers, Hungary, with a CAGR of +42.1%, 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 mixed trend patterns.

Import Prices by Country

The average industrial roundwood import price stood at $X per cubic meter in 2022, jumping by 34% against the previous year. In general, import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood import price increased by +110.9% against 2015 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Croatia ($X per cubic meter), while the price for Hungary ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform