Serbia: Lignite Market 2024

Lignite Market Size in Serbia

The Serbian lignite market rose remarkably to $X in 2022, picking up by 6.5% against the previous year. Overall, consumption, however, saw a slight descent. The growth pace was the most rapid in 2020 when the market value increased by 7.6% against the previous year. Lignite consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Lignite Production in Serbia

In value terms, lignite production expanded markedly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep slump. The pace of growth was the most pronounced in 2018 with an increase of 71% against the previous year. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Lignite Exports

Exports from Serbia

In 2022, overseas shipments of lignites decreased by -80.2% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports showed a abrupt setback. The most prominent rate of growth was recorded in 2013 with an increase of 303%. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, lignite exports reduced rapidly to $X in 2022. Overall, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2013 with an increase of 314% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for lignite exports from Serbia, accounting for a 73% share of total exports. Moreover, lignite exports to North Macedonia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), fivefold. Poland (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to North Macedonia stood at -15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+16.0% per year) and Poland (+138.5% per year).

In value terms, North Macedonia ($X) remains the key foreign market for lignites exports from Serbia, comprising 81% of total exports. The second position in the ranking was held by Poland ($X), with a 10% share of total exports. It was followed by Bosnia and Herzegovina, with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to North Macedonia totaled -16.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+115.9% per year) and Bosnia and Herzegovina (+6.5% per year).

Export Prices by Country

The average lignite export price stood at $X per ton in 2022, falling by -5.5% against the previous year. Overall, the export price recorded a noticeable slump. The pace of growth was the most pronounced in 2021 an increase of 81%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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 Hungary ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Hungary (+0.3%), while the prices for the other major destinations experienced a decline.

Lignite Imports

Imports into Serbia

In 2022, purchases abroad of lignites increased by 523% to X tons, rising for the second consecutive year after three years of decline. Overall, imports saw a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lignite imports skyrocketed to $X in 2022. In general, imports continue to indicate a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Bosnia and Herzegovina (X tons) constituted the largest supplier of lignite to Serbia, accounting for a 45% share of total imports. Moreover, lignite imports from Bosnia and Herzegovina exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. Romania (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Bosnia and Herzegovina stood at +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+102.8% per year) and Romania (+46.8% per year).

In value terms, Bosnia and Herzegovina ($X) constituted the largest supplier of lignites to Serbia, comprising 49% of total imports. The second position in the ranking was held by Bulgaria ($X), with an 11% share of total imports. It was followed by Indonesia, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Bosnia and Herzegovina stood at +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+88.5% per year) and Indonesia (+100.0% per year).

Import Prices by Country

In 2022, the average lignite import price amounted to $X per ton, waning by -2% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 31%. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then fell modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform