Serbia: Sunglasses Market 2025

Sunglasses Market Size in Serbia

In 2022, the Serbian sunglasses market increased by 38% to $X, rising for the seventh year in a row after three years of decline. Over the period under review, consumption saw a prominent increase. Sunglasses consumption peaked in 2022 and is likely to continue growth in the near future.

Sunglasses Exports

Exports from Serbia

Sunglasses exports from Serbia surged to X units in 2022, rising by 42% against 2021. Overall, exports recorded a significant increase. The growth pace was the most rapid in 2013 when exports increased by 176% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sunglasses exports soared to $X in 2022. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 176% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

North Macedonia (X units), Bosnia and Herzegovina (X units) and Montenegro (X units) were the main destinations of sunglasses exports from Serbia, with a combined 67% share of total exports. Russia, Belarus and Lithuania lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +103.4%), while the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X), Montenegro ($X) and Russia ($X) constituted the largest markets for sunglasses exported from Serbia worldwide, together accounting for 77% of total exports. Belarus, Bosnia and Herzegovina and Lithuania lagged somewhat behind, together comprising a further 19%.

Among the main countries of destination, Belarus, with a CAGR of +119.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sunglasses export price amounted to $X per unit, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2014 an increase of 36% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per unit), while the average price for exports to Bosnia and Herzegovina ($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 Lithuania (+12.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sunglasses Imports

Imports into Serbia

In 2022, purchases abroad of sunglasses increased by 56% to X units, rising for the seventh year in a row after two years of decline. Over the period under review, imports recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 89%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, sunglasses imports reduced slightly to $X in 2022. Overall, total imports indicated a resilient increase from 2012 to 2022: its value 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, imports increased by +18.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. As a result, imports reached the peak of $X, and then shrank in the following year.

Imports by Country

In 2022, China (X units) was the main supplier of sunglasses to Serbia, with a 96% share of total imports. It was followed by Italy (X units), with a 0.9% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China amounted to +41.8%.

In value terms, China ($X) constituted the largest supplier of sunglasses to Serbia, comprising 62% of total imports. The second position in the ranking was held by Italy ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +8.7%.

Import Prices by Country

The average sunglasses import price stood at $X per unit in 2022, which is down by -38.9% against the previous year. Over the period under review, the import price showed a deep contraction. The growth pace was the most rapid in 2016 a decrease of -2%. The import price peaked at $X per unit in 2012; however, from 2013 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 Italy ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.5%).

Source: IndexBox Platform