Report Update Aug 10, 2024

Serbia - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends and Insights

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Serbia: Crude Oil Market 2024

Crude Oil Market Size in Serbia

In 2023, the Serbian crude oil market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, enjoyed a strong increase. As a result, consumption attained the peak level of $X, and then reduced notably in the following year.

Crude Oil Exports

Exports from Serbia

In 2023, shipments abroad of crude petroleum oil decreased by X% to X kg, falling for the fifth year in a row after three years of growth. Over the period under review, exports continue to indicate a dramatic curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, crude oil exports totaled $X in 2023. Overall, exports saw a sharp reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X kg) was the main destination for crude oil exports from Serbia, accounting for a approx. X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of volume to Germany totaled X%.

From 2012 to 2023, the average annual growth rate of value to Germany stood at X%.

Export Prices by Country

The average crude oil export price stood at $X per ton in 2023, leveling off at the previous year. In general, the export price enjoyed a moderate increase. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2023 and is likely to continue growth in the near future.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2012 to 2023, the rate of growth in terms of prices for Bosnia and Herzegovina amounted to X% per year.

Crude Oil Imports

Imports into Serbia

In 2023, overseas purchases of crude petroleum oil decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, imports, however, saw strong growth. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at X tons in 2022, and then declined in the following year.

In value terms, crude oil imports reduced sharply to $X in 2023. Over the period under review, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of $X, and then dropped sharply in the following year.

Imports by Country

In 2023, Iraq (X tons) constituted the largest crude oil supplier to Serbia, accounting for a X% share of total imports. Moreover, crude oil imports from Iraq exceeded the figures recorded by the second-largest supplier, Norway (X tons), threefold. The third position in this ranking was held by Kazakhstan (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Iraq stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (X.5% per year) and Kazakhstan (X% per year).

In value terms, Iraq ($X) constituted the largest supplier of crude petroleum oil to Serbia, comprising X% of total imports. The second position in the ranking was held by Norway ($X), with an X% share of total imports. It was followed by Kazakhstan, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Iraq amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (X.1% per year) and Kazakhstan (X% per year).

Import Prices by Country

In 2023, the average crude oil import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from Azerbaijan ($X per ton) and Russia ($X per ton), while the price for Iraq ($X per ton) and Libya ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Iraq (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

This report provides an in-depth analysis of the crude oil market in Serbia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Serbia

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Serbia
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023