Non coniferous roundwood market in Serbia

Earlier Report Observations

The non-coniferous roundwood market in Serbia expanded from 7.5 million m³ in 2018 to a peak of 7.7 million m³ in 2020. This growth was supported by the entry of major foreign investors like Tarkett and Kronospan into wood processing, which increased demand for raw timber. Although many small enterprises faced strategic challenges and bankruptcies, the overall activity in the sector kept production volumes rising.

After a dip to 7.4 million m³ in 2021, the market recovered to 7.6 million m³ in 2022. This rebound coincided with the wood industry being recognized as a key economic sector, where furniture exports grew by approximately 8%, boosting the need for roundwood. High inflation and rising energy costs during this period also significantly impacted production expenses, contributing to the market value soaring to $3.8 billion.

In 2023, the market contracted to 7.2 million m³, with its value falling to $2.9 billion. The primary driver was an 8% decrease in timber felling volumes compared to the previous year, which directly constrained the supply of raw material. Regional variations in harvesting, including increases in Belgrade and Vojvodina but declines in Šumadija and Western Serbia, further affected availability.

Production non coniferous roundwood in Serbia

In kind, 2017-2020, K m³

Top producers of non coniferous roundwood, 2017-2020

World map of production of non coniferous roundwood, 2017-2020

Serbia's production of non-coniferous roundwood has increased for the third consecutive year. In 2020, the country produced 7,722 thousand cubic meters, marking a 1.8% rise compared to 2019. Over the period from 2017 to 2020, production grew by 4.3%, which translates to an average annual increase of 1.4%.

Annual dynamics of production in Serbia in kind, 2017-2020, K m³

In value, 2017-2020, M $ US

Serbia's production of non-coniferous roundwood has increased for the third consecutive year. In 2020, the output was valued at 2,772 million US dollars, showing a strong year-over-year increase of 13.9%. From 2017 to 2020, production value rose by 33.8%, with a compound annual growth rate of 10.2%.

Annual dynamics of production in Serbia in value, 2017-2020, M $ US

Exports non coniferous roundwood from Serbia

Exports in kind, m³

In 2020, Serbia's export volume of non-coniferous roundwood reached 41,081 cubic meters, representing a 2.0% increase compared to the previous year. However, between 2017 and 2020, exports decreased by 39.6%, averaging an annual decline of 15.4%. The lowest volume was recorded in 2019 at 40,270 cubic meters, while the peak occurred in 2018 with 70,775 cubic meters. The largest decline of 43.1% was observed in 2019, whereas the highest increase of 4.1% took place in 2018.

Annual dynamics of product's exports from Serbia in kind, 2017-2020, m³

From 2017 to 2020, China, Turkey, and Italy were the leading destinations for Serbia's non-coniferous roundwood exports in volume terms. China accounted for 68.6% of exports, Turkey for 8.2%, and Italy for 3.9%. Together, these three countries represented 80.8% of total export flows.

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

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

Exports in value, K $ US

In 2020, Serbia's non-coniferous roundwood exports totaled 14,748 thousand US dollars, reflecting a solid 14.2% increase compared to 2019. Over the period from 2017 to 2020, however, export value decreased by 22.5%, with an average annual decline of 8.1%. The lowest value was recorded in 2019 at 12,914 thousand US dollars, while the highest was in 2018 at 20,221 thousand US dollars. The largest decline of 36.1% occurred in 2019.

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

From 2017 to 2020, China, Turkey, and Italy dominated Serbia's non-coniferous roundwood exports in value terms. China held 63.4% of export value, Turkey 10.5%, and Italy 5.0%. Collectively, these three countries accounted for 78.9% of total export flows.

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

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

Imports non coniferous roundwood to Serbia

Imports in kind, m³

Serbia's imports of non-coniferous roundwood declined for the second consecutive year. In 2020, the country imported 35,706 cubic meters, marking a 3.5% decrease year-over-year. The highest import volume was recorded in 2018 at 39,037 cubic meters. The largest decline of 5.2% occurred in 2019, while the highest increase of 10.9% was observed in 2018.

Annual dynamics of product's imports to Serbia in kind, 2017-2020, m³

Between 2017 and 2020, Hungary was the dominant source for Serbia's non-coniferous roundwood imports in volume terms, accounting for 77.2% of total imports. The remaining imports were distributed among various smaller partners.

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

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

Imports in value, K $ US

Serbia's imports of non-coniferous roundwood have increased for the third consecutive year. In 2020, imports totaled 4,302 thousand US dollars, reflecting a 31.3% rise compared to the previous year. Over the period from 2017 to 2020, import value grew by 69.2%, with a compound annual growth rate of 19.2%.

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

From 2017 to 2020, Hungary and Croatia were the primary sources for Serbia's non-coniferous roundwood imports in value terms. Hungary accounted for 62.0% of imports, while Croatia contributed 27.4%. Together, they represented 89.3% of total import flows, with other partners making up the remainder.

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

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