Slovakia: Relay Market 2024

Relay Market Size in Slovakia

In 2022, the Slovak relay market increased by 12% to $X, rising for the third year in a row after two years of decline. In general, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.8% 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 +73.4% against 2019 indices. Relay consumption peaked in 2022 and is expected to retain growth in years to come.

Relay Production in Slovakia

In value terms, relay production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by 48% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Relay Exports

Exports from Slovakia

In 2022, relay exports from Slovakia dropped to X units, with a decrease of -3.5% compared with the previous year's figure. In general, exports continue to indicate a slight descent. The growth pace was the most rapid in 2017 when exports increased by 45%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, relay exports declined notably to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 49%. As a result, the exports reached the peak of $X, and then shrank dramatically in the following year.

Exports by Country

Germany (X units) was the main destination for relay exports from Slovakia, accounting for a 32% share of total exports. Moreover, relay exports to Germany exceeded the volume sent to the second major destination, Morocco (X units), twofold. The third position in this ranking was taken by Russia (X units), with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +1.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+80.7% per year) and Russia (+12.9% per year).

In value terms, Germany ($X) remains the key foreign market for relays exports from Slovakia, comprising 37% of total exports. The second position in the ranking was held by Russia ($X), with an 11% share of total exports. It was followed by Singapore, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+21.8% per year) and Singapore (-5.3% per year).

Export Prices by Country

The average relay export price stood at $X per unit in 2022, falling by -17.6% against the previous year. Overall, export price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, relay export price increased by +19.5% against 2020 indices. The most prominent rate of growth was recorded in 2015 an increase of 46%. As a result, the export price attained the peak level of $X per unit. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per unit), while the average price for exports to Morocco ($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 Hong Kong SAR (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Relay Imports

Imports into Slovakia

In 2022, the amount of relays imported into Slovakia surged to X units, rising by 15% on the previous year's figure. Overall, total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% 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 +94.1% against 2015 indices. The growth pace was the most rapid in 2021 with an increase of 63%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, relay imports reached $X in 2022. In general, total imports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.4% 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 +63.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 48%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan (X units), Germany (X units) and South Korea (X units) were the main suppliers of relay imports to Slovakia, together accounting for 64% of total imports. China, Italy, the Netherlands, Lithuania, the Czech Republic, Poland, France and Hungary lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +78.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Germany ($X) and South Korea ($X) constituted the largest relay suppliers to Slovakia, with a combined 52% share of total imports. China, Italy, the Netherlands, the Czech Republic, France, Poland, Lithuania and Hungary lagged somewhat behind, together comprising a further 30%.

Lithuania, with a CAGR of +56.0%, saw the highest rates of growth with regard to the value of imports, in terms of 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 relay import price amounted to $X per unit, declining by -4.4% against the previous year. Over the period under review, the import price continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 17% against the previous year. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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