Slovakia: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Slovakia

In 2021, the Slovak electrical circuit apparatus market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a slight curtailment. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Electrical Circuit Apparatus Production in Slovakia

In value terms, electrical circuit apparatus production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 14% against the previous year. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Electrical Circuit Apparatus Exports

Exports from Slovakia

In 2021, the amount of electrical apparatus for circuit connection, switching and protection exported from Slovakia surged to X tons, growing by 28% compared with the year before. Over the period under review, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus exports surged to $X in 2021. In general, exports showed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for electrical circuit apparatus exports from Slovakia, accounting for a 37% share of total exports. Moreover, electrical circuit apparatus exports to Germany exceeded the volume sent to the second major destination, Italy (X tons), threefold. The Czech Republic (X tons) ranked third in terms of total exports with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+4.2% per year) and the Czech Republic (+3.0% per year).

In value terms, Germany ($X) remains the key foreign market for electrical circuit apparatus exports from Slovakia, comprising 46% of total exports. The second position in the ranking was taken by the Czech Republic ($X), with a 7.5% share of total exports. It was followed by France, with a 5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Germany amounted to +11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+2.1% per year) and France (+6.3% per year).

Export Prices by Country

The average electrical circuit apparatus export price stood at $X per ton in 2021, growing by 26% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Switzerland ($X per ton), while the average price for exports to Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Slovakia

In 2021, supplies from abroad of electrical apparatus for circuit connection, switching and protection was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, saw a pronounced reduction. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, electrical circuit apparatus imports surged to $X in 2021. The total import value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of electrical circuit apparatus to Slovakia, accounting for a 30% share of total imports. Moreover, electrical circuit apparatus imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at -8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+3.7% per year) and Italy (-3.2% per year).

In value terms, Germany ($X) constituted the largest supplier of electrical circuit apparatus to Slovakia, comprising 29% of total imports. The second position in the ranking was taken by Italy ($X), with an 11% share of total imports. It was followed by the Czech Republic, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+10.9% per year) and the Czech Republic (+5.0% per year).

Import Prices by Country

The average electrical circuit apparatus import price stood at $X per ton in 2021, growing by 12% against the previous year. Over the period under review, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, electrical circuit apparatus import price increased by +78.6% against 2015 indices. The growth pace was the most rapid in 2017 an increase of 21% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was South Korea ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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