Serbia: Twine And Cordage Market 2024

Twine And Cordage Market Size in Serbia

In 2022, the Serbian twine and cordage market decreased by -9% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, the total consumption indicated a tangible expansion 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 increased by +45.1% against 2018 indices. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Twine And Cordage Production in Serbia

In value terms, twine and cordage production declined modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 27% against the previous year. Twine and cordage production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Twine And Cordage Exports

Exports from Serbia

In 2022, shipments abroad of twine, cordage, rope and cables increased by 4.4% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -31.6% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of 22%. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, twine and cordage exports rose notably to $X in 2022. The total export value increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by 52% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons) was the main destination for twine and cordage exports from Serbia, accounting for a 31% share of total exports. Moreover, twine and cordage exports to Germany exceeded the volume sent to the second major destination, Romania (X tons), threefold. Italy (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+20.7% per year) and Italy (-1.2% per year).

In value terms, Germany ($X) remains the key foreign market for twine, cordage, rope and cables exports from Serbia, comprising 32% of total exports. The second position in the ranking was taken by Romania ($X), with an 11% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +6.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+23.4% per year) and Italy (+2.5% per year).

Export Prices by Country

The average twine and cordage export price stood at $X per ton in 2022, rising by 3% against the previous year. Over the last decade, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Bosnia and Herzegovina ($X per ton) and Russia ($X per ton), while the average price for exports to Hungary ($X per ton) and Albania ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Twine And Cordage Imports

Imports into Serbia

In 2022, supplies from abroad of twine, cordage, rope and cables decreased by -10.4% to X tons, falling for the second year in a row after two years of growth. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 36% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, twine and cordage imports declined modestly to $X in 2022. In general, total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% 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 +48.9% against 2017 indices. The most prominent rate of growth was recorded in 2015 with an increase of 17% against the previous year. Imports peaked at $X in 2021, and then dropped slightly in the following year.

Imports by Country

North Macedonia (X tons), the Czech Republic (X tons) and Slovenia (X tons) were the main suppliers of twine and cordage imports to Serbia, with a combined 55% share of total imports. China, Hungary, Germany, Turkey, Albania, Italy, Russia and Egypt lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Albania (with a CAGR of +367.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X), China ($X) and the Czech Republic ($X) appeared to be the largest twine and cordage suppliers to Serbia, with a combined 44% share of total imports. Slovenia, Germany, Italy, Hungary, Turkey, Russia, Albania and Egypt lagged somewhat behind, together accounting for a further 38%.

Albania, with a CAGR of +265.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average twine and cordage import price amounted to $X per ton, surging by 6.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2018 when the average import price increased by 22% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 ($X per ton), while the price for Albania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform