Serbia: Flax Fabric Market 2024

Flax Fabric Market Size in Serbia

After ten years of growth, the Serbian flax fabric market decreased by -87.1% to $X in 2022. Overall, consumption, however, saw a precipitous descent. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Flax Fabric Production in Serbia

In value terms, flax fabric production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a abrupt descent. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Flax Fabric Exports

Exports from Serbia

For the eleventh year in a row, Serbia recorded growth in shipments abroad of woven fabrics of flax, which increased by 932% to X tons in 2022. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, flax fabric exports surged to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when exports increased by 152%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for flax fabric exports from Serbia, accounting for a 60% share of total exports. Moreover, flax fabric exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Italy (X kg), fourfold. The third position in this ranking was held by North Macedonia (X kg), with a 9.9% share.

From 2020 to 2022, the average annual rate of growth in terms of volume to Bosnia and Herzegovina totaled +213.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+2,758.3% per year) and North Macedonia (+25,150.0% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for woven fabrics of flax exports from Serbia, comprising 68% of total exports. The second position in the ranking was held by Italy ($X), with a 9.8% share of total exports. It was followed by Montenegro, with a 4.9% share.

From 2020 to 2022, the average annual rate of growth in terms of value to Bosnia and Herzegovina amounted to +90.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+962.3% per year) and Montenegro (+70.4% per year).

Export Prices by Country

In 2022, the average flax fabric export price amounted to $X per ton, declining by -87.4% against the previous year. In general, the export price showed a significant decrease. The pace of growth was the most pronounced in 2021 when the average export price increased by 100% against the previous year. As a result, the export price reached the peak level of $X per ton, and then fell remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2020 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Norway (-18.2%), while the prices for the other major destinations experienced a decline.

Flax Fabric Imports

Imports into Serbia

In 2022, the amount of woven fabrics of flax imported into Serbia amounted to X tons, leveling off at 2021. In general, imports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 53% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, flax fabric imports rose modestly to $X in 2022. Overall, imports, however, continue to indicate a pronounced downturn. The growth pace was the most rapid in 2021 when imports increased by 53%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Italy (X tons), China (X tons) and Turkey (X tons) were the main suppliers of flax fabric imports to Serbia, together comprising 60% of total imports. Bulgaria, Austria, Germany and Belarus lagged somewhat behind, together accounting for a further 36%.

From 2020 to 2022, the biggest increases were recorded for Austria (with a CAGR of +129.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of woven fabrics of flax to Serbia, comprising 32% of total imports. The second position in the ranking was held by Austria ($X), with a 16% share of total imports. It was followed by Turkey, with a 15% share.

From 2020 to 2022, the average annual rate of growth in terms of value from Italy stood at +25.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+138.7% per year) and Turkey (+16.8% per year).

Import Prices by Country

The average flax fabric import price stood at $X per ton in 2022, growing by 3.3% against the previous year. Over the last two-year period, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2020 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform