Wood in the rough market in Serbia

Earlier Report Observations

The Serbian market for wood in the rough expanded from 5.1 million tonnes in 2018 to 5.4 million tonnes in 2020. This growth was supported by a consistent annual increase in timber harvesting volumes, which rose by 2% in 2018 and 3% in 2019, providing more raw material to the market. The government's forestry development strategy for 2018-2022, which prioritized the wood industry, also contributed to this upward trend. Furthermore, a growing focus on sustainable construction and ecological building materials during the pandemic year of 2020 reinforced demand for wood.

After a contraction to 5.1 million tonnes in 2021, the market recovered to 5.2 million tonnes in 2022. The initial decline coincided with intense global demand for sawn timber, particularly from China, which raised export volumes and domestic prices for logs and wood pellets, tightening domestic supply. The subsequent rebound was facilitated by the entry of small firewood producers from private forests and national parks, which increased available volume. Announcements of Russian log export restrictions from 2022 onward added further pressure on international supply chains, potentially benefiting local availability.

In 2023, the market volume decreased again to 4.9 million tonnes, marking the lowest point in the observed period.

Production wood in the rough in Serbia

In kind, 2017-2020, K t

Top producers of wood in the rough, 2017-2020

World map of production of wood in the rough, 2017-2020

Serbia's production of wood in the rough has increased for the third consecutive year. In 2020, the country produced 5 353 K t, marking a 1.5% rise compared to the previous year. Over the period from 2017 to 2020, production grew by 5.7%, with an average annual growth rate of 1.9%.

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

In value, 2017-2020, M $ US

Serbia's production of wood in the rough has increased for the third consecutive year. In 2020, the output was valued at 1 843 M $ US, showing a substantial increase of 10.1% over the past year. Between 2017 and 2020, production rose by 32.8%, which translates to an annualized growth rate of 9.9%.

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

Exports wood in the rough from Serbia

Exports in kind, t

In 2020, Serbia's exports of wood in the rough stood at 46 718 t, representing a controlled gain of 5.8% compared to 2019. Over the period from 2017 to 2020, exports decreased by 36.5%, with an average annual decline of 14.1%. The minimum value was recorded in 2019 at 44 137 t, while the maximum was in 2018 at 73 718 t. The largest decline occurred in 2019, with a drop of 40.1%.

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

From 2017 to 2020, China, Turkey, and Slovenia were the key destinations for Serbia's exports of wood in the rough in kind. China accounted for 67.9% of exports, Turkey for 7.0%, and Slovenia for 4.4%, together making up 79.3% of total 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 exported 16 081 K $ US worth of wood in the rough, equivalent to a notable rise of 14.8% relative to the prior year. Over the period from 2017 to 2020, exports decreased by 20.3%, with an average annual decline of 7.3%. The minimum value was recorded in 2019 at 14 006 K $ US, while the maximum was in 2018 at 21 575 K $ US. The largest decline occurred in 2019, with a drop of 35.1%.

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

From 2017 to 2020, China, Turkey, and Slovenia were the principal buyers of wood in the rough from Serbia in value terms. China accounted for 59.1% of exports, Turkey for 9.8%, and Slovenia for 6.7%, jointly representing 75.6% of total exports.

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

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

Imports wood in the rough to Serbia

Imports in kind, t

Serbia's imports of wood in the rough have increased for the second consecutive year. In 2020, imports registered 46 353 t, amounting to a controlled gain of 5.9% from 2019. The minimum value was recorded in 2018 at 38 157 t. The largest decline occurred in 2018, with a drop of 16.4%, while the largest increase was in 2019, with a rise of 14.7%.

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

From 2017 to 2020, Hungary, Bosnia and Herzegovina, and Croatia formed the main group of sources for Serbia's imports of wood in the rough in kind. Hungary accounted for 55.0% of imports, Bosnia and Herzegovina for 24.8%, and Croatia for 14.9%, together making up 94.6% of total flows.

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 wood in the rough have increased for the third consecutive year. In 2020, imports amounted to 5 733 K $ US, reflecting an increase of 18.2% compared to the previous year. Over the period from 2017 to 2020, imports grew by 38.4%, with an average annual growth rate of 11.4%.

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

Over 2017 to 2020, Hungary, Bosnia and Herzegovina, and Croatia made the biggest contribution to Serbia's imports of wood in the rough in value terms. Hungary accounted for 42.1% of imports, Bosnia and Herzegovina for 27.0%, and Croatia for 18.1%, jointly accounting for 87.2% of total flows.

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

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