Key Market Indicators
**Serbian Electrical Equipment Revenue to Hit €487 Million by 2028** BELGRADE – The Serbian electrical equipment market is projected to see a steady growth, reaching €487 million by 2028, up from €438 million in 2023. This marks an average annual growth rate of 1.5%. Since 2019, the market has experienced a robust increase of 7.9% annually. In 2023, Serbia ranked 25th globally for electrical equipment revenue, with Estonia slightly ahead, also at €438 million. Leading the pack were France, Italy, and Spain, holding the second, third, and fourth spots respectively. **Exports and Imports on the Rise** Serbia's electrical equipment export sector is also expected to flourish, reaching nearly $3.9 billion by 2028, a notable increase from $3.2 billion in 2023. This translates to a compound annual growth rate (CAGR) of 3.2%. Since 2010, the country’s export supply has grown by 4.1% annually. On the import side, Serbia is forecasted to see its electrical equipment imports rise to approximately $3.2 billion by 2028, from $2.7 billion in 2023. This growth is expected to average 2.6% per year. Demand for electrical equipment imports has been on an upward trajectory since 2010, with a yearly increase of 2.3%. These figures underscore the dynamic growth and increasing importance of Serbia's electrical equipment market on the global stage.
