Non-alloy steel wire market in North Macedonia

Earlier Report Observations

The North Macedonian market for non-alloy steel wire in physical terms grew from 10 862 t in 2018 to a high of 12 991 t in 2020, representing an overall increase of nearly 20% over two years. This expansion was followed by a two-year downturn, with volume falling to 8 206 t in 2022, a level roughly 25% below the starting point. The market subsequently rebounded strongly in 2023, adding over 2 400 t, and stabilized in 2024 at 10 787 t.

Market value, measured in thousands of US dollars, did not always mirror the physical volume trend. After an initial decline in 2019, the market's worth rose sharply in 2020. Despite further volume drops in 2021 and 2022, the value in those years did not fall proportionally, indicating possible shifts in product mix or pricing. The highest market value was recorded in 2023 at 13 850 thousand USD, even though the physical volume that year remained below the 2020 peak.

Over the full 2018-2024 period, the market demonstrated considerable volatility in both volume and value. The final year's physical volume of 10 787 t was very close to the 2018 level, suggesting a return to a prior baseline after a cycle of growth and contraction. In contrast, the market's monetary value in 2024 was approximately 16% higher than in 2018, pointing to a long-term increase in the average economic weight of the wire sold.

Production non-alloy steel wire in North Macedonia

In value, 2017-2020, K $ US

In 2019, North Macedonia's non-alloy steel wire production was valued at 8 569 thousand US dollars, marking the lowest point in the period. However, production rebounded significantly in 2020, reaching 10 728 thousand US dollars—a 25.2% increase from the previous year. Over the entire 2018-2020 period, production grew by 15.4%, translating to an average annual growth rate of 4.9%. Notably, 2019 saw the largest decline of 7.8%.

Annual dynamics of production in North Macedonia in value, 2017-2020, K $ US

In kind, 2017-2020, t

North Macedonia's non-alloy steel wire production volume has increased for the second consecutive year. In 2020, the country produced 13 284 tonnes, representing a robust 20.8% gain compared to 2019. Over the 2018-2020 period, production rose by 31.9%, with an average annual growth rate of 9.7%.

Annual dynamics of production in North Macedonia in kind, 2017-2020, t

Exports non-alloy steel wire from North Macedonia

Exports in kind, t

Non-alloy steel wire exports from North Macedonia have grown for the second year in a row. In 2020, exports reached 10 182 tonnes, showing a sharp 27.1% increase from the previous year. Between 2017 and 2020, exports surged by 40.2%, equivalent to an annualized growth rate of 11.9%. The lowest export volume was recorded in 2018 at 6 876 tonnes, which also saw the largest decline of 5.4%.

Annual dynamics of product's exports from North Macedonia in kind, 2017-2020, t

From 2017 to 2020, Serbia, Bulgaria, and Bosnia and Herzegovina were the main buyers of non-alloy steel wire from North Macedonia. Serbia accounted for 33.7% of exports in volume, Bulgaria for 9.9%, and Bosnia and Herzegovina for 8.9%. Together, these three countries comprised 52.5% of total exports in volume.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from North Macedonia in kind, 2017-2020

Exports in value, K $ US

Foreign non-alloy steel wire supplies from North Macedonia have increased for the third consecutive year. In 2020, exports were valued at 7 521 thousand US dollars, representing a sharp 25.8% gain compared to 2019. Over the 2017-2020 period, exports grew by 52%, with an average annual growth rate of 15.0%.

Annual dynamics of product's exports from North Macedonia in value, 2017-2020, K $ US

Throughout 2017–2020, Serbia, Bulgaria, and Bosnia and Herzegovina formed the core of North Macedonia's non-alloy steel wire exports in value terms. Serbia contributed 35.6% of export value, Bulgaria 9.5%, and Bosnia and Herzegovina 9.2%. Collectively, these three countries accounted for 54.4% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from North Macedonia in value, 2017-2020

Imports non-alloy steel wire to North Macedonia

Imports in kind, t

North Macedonia's non-alloy steel wire import volume has risen for the third consecutive year. In 2020, imports amounted to 9 889 tonnes, showing a substantial 18.8% advance compared to the previous year. Over the 2017-2020 period, imports increased by 34.7%, with an average annual growth rate of 10.4%.

Annual dynamics of product's imports to North Macedonia in kind, 2017-2020, t

From 2017 to 2020, Greece, Hong Kong, and Slovakia were the leading suppliers of non-alloy steel wire to North Macedonia. Greece accounted for 58.8% of imports in volume, Hong Kong for 12.0%, and Slovakia for 5.8%. Their combined share reached 76.6% of total imports in volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to North Macedonia in kind, 2017-2020

Imports in value, K $ US

In 2020, non-alloy steel wire shipments to North Macedonia from abroad were valued at 8 944 thousand US dollars, representing a 21.6% uptick compared to 2019. Over the 2017-2020 period, imports increased by 40.9%, with an average annual growth rate of 12.1%. The largest decline occurred in 2019 at 0.6%.

Annual dynamics of product's imports to North Macedonia in value, 2017-2020, K $ US

In 2017–2020, Greece, Hong Kong, and Slovakia were the main sources in the geographical breakdown of non-alloy steel wire imports to North Macedonia in value terms. Greece accounted for 49.0% of import value, Hong Kong for 16.3%, and Slovakia for 9.3%. Together, they held a combined share of 74.5% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to North Macedonia in value, 2017-2020