Serbia: Photo Camera Market 2025

Photo Camera Market Size in Serbia

The Serbian photo camera market was estimated at $X in 2022, picking up by 7.9% against the previous year. Over the period under review, the total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Photo Camera Production in Serbia

In value terms, photo camera production reached $X in 2022 estimated in export price. In general, the total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.8% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 51% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Photo Camera Exports

Exports from Serbia

In 2022, shipments abroad of photographic (other than cinematographic) cameras increased by 1,028% to X units, rising for the third year in a row after three years of decline. Overall, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, photo camera exports skyrocketed to $X in 2022. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2015 with an increase of 862%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Montenegro (X units) was the main destination for photo camera exports from Serbia, with a 99% share of total exports. It was followed by Bosnia and Herzegovina (X units), with a 0.5% share of total exports. North Macedonia (X units) ranked third in terms of total exports with a 0.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Montenegro amounted to +51.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+4.1% per year) and North Macedonia (-24.7% per year).

In value terms, Montenegro ($X) emerged as the key foreign market for photographic (other than cinematographic) cameras exports from Serbia, comprising 36% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 5.8% share of total exports. It was followed by North Macedonia, with a 0.9% share.

From 2012 to 2022, the average annual growth rate of value to Montenegro totaled +37.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+20.6% per year) and North Macedonia (-13.8% per year).

Export Prices by Country

In 2022, the average photo camera export price amounted to $X per unit, with a decrease of -87.8% against the previous year. In general, the export price recorded a deep contraction. The pace of growth appeared the most rapid in 2015 an increase of 534% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Bosnia and Herzegovina ($X per unit), while the average price for exports to the Czech Republic ($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 Bosnia and Herzegovina (+15.8%), while the prices for the other major destinations experienced mixed trend patterns.

Photo Camera Imports

Imports into Serbia

In 2022, supplies from abroad of photographic (other than cinematographic) cameras increased by 25% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports posted a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 283% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, photo camera imports stood at $X in 2022. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 185%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Thailand (X units) and the United States (X units) were the main suppliers of photo camera imports to Serbia, together accounting for 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +68.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest photo camera suppliers to Serbia were China ($X), Thailand ($X) and Japan ($X), together accounting for 74% of total imports.

Among the main suppliers, Thailand, with a CAGR of +60.0%, recorded the highest growth rate of 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 photo camera import price stood at $X per unit in 2022, with a decrease of -19.4% against the previous year. In general, the import price showed a abrupt curtailment. The pace of growth appeared the most rapid in 2014 an increase of 102%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform