Serbia: Industrial Roundwood (Non-Coniferous) Market 2024

Industrial Roundwood (Non-Coniferous) Market Size in Serbia

The Serbian industrial roundwood (non-coniferous) market expanded sharply to $X in 2022, increasing by 6.9% against the previous year. Overall, consumption recorded a relatively flat trend pattern. Industrial roundwood (non-coniferous) consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Industrial Roundwood (Non-Coniferous) Production in Serbia

In value terms, industrial roundwood (non-coniferous) production rose modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the production volume increased by 34%. Industrial roundwood (non-coniferous) production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Industrial Roundwood (Non-Coniferous) Exports

Exports from Serbia

In 2022, shipments abroad of industrial roundwood decreased by -50.5% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, posted a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of 108%. Over the period under review, the (non-coniferous) exports reached the maximum at X cubic meters in 2021, and then shrank sharply in the following year.

In value terms, industrial roundwood (non-coniferous) exports declined dramatically to $X in 2022. Over the period under review, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2021 when exports increased by 105%. As a result, the exports reached the peak of $X, and then fell sharply in the following year.

Exports by Country

China (X cubic meters) was the main destination for industrial roundwood (non-coniferous) exports from Serbia, accounting for a 58% share of total exports. Moreover, industrial roundwood (non-coniferous) exports to China exceeded the volume sent to the second major destination, Turkey (X cubic meters), fourfold. Bosnia and Herzegovina (X cubic meters) ranked third in terms of total exports with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at +94.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+79.6% per year) and Bosnia and Herzegovina (+19.8% per year).

In value terms, China ($X) remains the key foreign market for industrial roundwood exports from Serbia, comprising 52% of total exports. The second position in the ranking was held by Turkey ($X), with a 15% share of total exports. It was followed by Slovenia, with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to China totaled +108.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+87.6% per year) and Slovenia (+6.6% per year).

Export Prices by Country

In 2022, the average industrial roundwood (non-coniferous) export price amounted to $X per cubic meter, with an increase of 26% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($X per cubic meter), while the average price for exports to Albania ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cambodia (+73.1%), while the prices for the other major destinations experienced more modest paces of growth.

Industrial Roundwood (Non-Coniferous) Imports

Imports into Serbia

In 2022, imports of industrial roundwood into Serbia contracted to X cubic meters, which is down by -7.2% against the previous year's figure. In general, imports, however, recorded a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 235%. Over the period under review, (non-coniferous) imports reached the peak figure at X cubic meters in 2021, and then declined in the following year.

In value terms, industrial roundwood (non-coniferous) imports skyrocketed to $X in 2022. Overall, imports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 319% against the previous year. Over the period under review, (non-coniferous) imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Hungary (X cubic meters) constituted the largest industrial roundwood (non-coniferous) supplier to Serbia, accounting for a 73% share of total imports. Moreover, industrial roundwood (non-coniferous) imports from Hungary exceeded the figures recorded by the second-largest supplier, Croatia (X cubic meters), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Hungary totaled +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Croatia (+20.4% per year) and Bosnia and Herzegovina (+45.5% per year).

In value terms, Croatia ($X), Hungary ($X) and Bosnia and Herzegovina ($X) were the largest industrial roundwood (non-coniferous) suppliers to Serbia, together accounting for 96% of total imports.

Bosnia and Herzegovina, with a CAGR of +58.1%, saw 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 industrial roundwood (non-coniferous) import price amounted to $X per cubic meter, picking up by 34% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, industrial roundwood (non-coniferous) import price increased by +98.3% against 2015 indices. The growth pace was the most rapid in 2020 when the average import price increased by 35% against the previous year. The import price peaked in 2022 and is likely to continue 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 Bosnia and Herzegovina ($X per cubic meter), while the price for Hungary ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Croatia (+14.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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