Key Market Indicators
**Serbian Lighting Market to Hit €380 Million by 2028** The Serbian lighting market is projected to surge to €380 million by 2028, up from its current valuation of €184 million in 2023. This marks an average annual growth rate of 11.2%. Remarkably, since 2019, the Serbian market has seen a year-on-year increase of 49.5%. In 2023, Serbia ranked 17th in the global lighting market, with Norway slightly ahead, also at €184 million. Leading the rankings were the Netherlands, Italy, and the Czech Republic, occupying the second, third, and fourth positions, respectively. **Import and Export Trends** Serbian lighting imports are on track to reach approximately $39 million by 2028, rising from $32 million in 2023. This represents an annual growth rate of 3%. Since 2010, the country’s demand for imported lighting has increased by 3.3% each year. On the export front, Serbian lighting exports are expected to grow to nearly $19 million by 2028, up from $15 million in 2023. This equates to an average annual growth rate of 3%. Since 2010, Serbian lighting exports have increased by 3.2% annually. These figures underscore Serbia's expanding footprint in the global lighting market, both as a consumer and a supplier.
