Serbia: Knotted Carpet Market 2024

Knotted Carpet Market Size in Serbia

In 2022, the Serbian knotted carpet market increased by 11% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.7% 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 +50.0% against 2020 indices. Knotted carpet consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Knotted Carpet Exports

Exports from Serbia

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were exported from Serbia; with a decrease of -52.8% compared with the previous year. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2016 when exports increased by 727%. As a result, the exports reached the peak of X square meters. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, knotted carpet exports contracted rapidly to $X in 2022. In general, exports saw a abrupt slump. The growth pace was the most rapid in 2016 with an increase of 486%. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X square meters) was the main destination for knotted carpet exports from Serbia, accounting for a 74% share of total exports. Moreover, knotted carpet exports to Italy exceeded the volume sent to the second major destination, Montenegro (X square meters), sevenfold. The third position in this ranking was taken by Croatia (X square meters), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume to Italy amounted to +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (-20.5% per year) and Croatia (+32.8% per year).

In value terms, Kyrgyzstan ($X) emerged as the key foreign market for knotted carpets and other knotted textile floor coverings exports from Serbia, comprising 50% of total exports. The second position in the ranking was held by Italy ($X), with a 14% share of total exports. It was followed by Montenegro, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Kyrgyzstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-16.2% per year) and Montenegro (-22.8% per year).

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, dropping by -23.8% against the previous year. Overall, the export price showed a abrupt decrease. The most prominent rate of growth was recorded in 2020 when the average export price increased by 127% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per square meter in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (-0.7%), while the prices for the other major destinations experienced a decline.

Knotted Carpet Imports

Imports into Serbia

In 2022, purchases abroad of knotted carpets and other knotted textile floor coverings increased by 9.1% to X square meters, rising for the second consecutive year after two years of decline. In general, imports enjoyed a strong expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 89% against the previous year. Over the period under review, imports hit record highs at X square meters in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, knotted carpet imports rose notably to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 39% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X square meters), Bosnia and Herzegovina (X square meters) and India (X square meters) were the main suppliers of knotted carpet imports to Serbia, together comprising 73% of total imports. Italy, Croatia, Pakistan, North Macedonia, Nepal, Tunisia and Greece lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the biggest increases were recorded for North Macedonia (with a CAGR of +34.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest knotted carpet suppliers to Serbia were Bosnia and Herzegovina ($X), Italy ($X) and India ($X), together comprising 59% of total imports. Pakistan, Turkey, Nepal, North Macedonia, Croatia, Greece and Tunisia lagged somewhat behind, together accounting for a further 35%.

In terms of the main suppliers, Greece, with a CAGR of +42.3%, recorded the highest rates of growth with regard to 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

The average knotted carpet import price stood at $X per square meter in 2022, which is down by -2.2% against the previous year. In general, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2013 when the average import price increased by 20% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2014 to 2022, the average import prices failed to regain momentum.

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 Italy ($X per square meter), while the price for Tunisia ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+29.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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