Slovakia: Measuring Instrument Market 2022

Measuring Instrument Market Size in Slovakia

The Slovak measuring instrument market declined markedly to $X in 2021, falling by -24.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption saw a pronounced slump. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Measuring Instrument Exports

Exports from Slovakia

In 2021, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids decreased by -68.5% to X units, falling for the second consecutive year after eight years of growth. Over the period under review, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by 479% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, measuring instrument exports fell notably to $X in 2021. In general, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 649%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Serbia (X units) was the main destination for measuring instrument exports from Slovakia, with a 48% share of total exports. Moreover, measuring instrument exports to Serbia exceeded the volume sent to the second major destination, Poland (X units), threefold. The third position in this ranking was held by the Czech Republic (X units), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Serbia totaled +63.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+92.1% per year) and the Czech Republic (+23.8% per year).

In value terms, the largest markets for measuring instrument exported from Slovakia were Serbia ($X), Poland ($X) and Austria ($X), with a combined 33% share of total exports. These countries were followed by the Czech Republic, Australia, Ukraine, China, the United States, Germany, Italy, Turkey and India, which together accounted for a further 44%.

Ukraine, with a CAGR of +96.8%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average measuring instrument export price stood at $X per unit in 2021, reducing by -44.8% against the previous year. In general, the export price saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 an increase of 29% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Australia ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Measuring Instrument Imports

Imports into Slovakia

In 2021, measuring instrument imports into Slovakia shrank sharply to X units, declining by -45.1% compared with 2020. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2015 when imports increased by 89%. Over the period under review, imports attained the peak figure at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, measuring instrument imports declined significantly to $X in 2021. Overall, imports, however, recorded mild growth. The most prominent rate of growth was recorded in 2014 with an increase of 32%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

South Korea (X units), France (X units) and the Czech Republic (X units) were the main suppliers of measuring instrument imports to Slovakia, together comprising 72% of total imports. Germany, Poland, Turkey, Hungary, Switzerland and the UK lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +109.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Czech Republic ($X) appeared to be the largest measuring instrument suppliers to Slovakia, together accounting for 66% of total imports. These countries were followed by South Korea, Switzerland, Hungary, the UK, Poland and Turkey, which together accounted for a further 19%.

Among the main suppliers, Turkey, with a CAGR of +75.9%, 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

In 2021, the average measuring instrument import price amounted to $X per unit, rising by 31% against the previous year. In general, the import price saw a resilient expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 92%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per unit), while the price for South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+18.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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