Key Market Indicators
Serbian clothing expenditure is projected to hit €1.5 billion by 2028, up from €1.4 billion in 2023, marking an average annual growth rate of 1.4%. Since 2000, the demand for clothing in Serbia has increased by an average of 7.6% each year. In 2023, Serbia ranked 23rd in clothing expenditure, with Bulgaria surpassing it at €1.4 billion. Leading the rankings in clothing expenditure were Germany, Italy, and France, occupying the second, third, and fourth spots respectively. Meanwhile, Serbian apparel sales are expected to decline, reaching €500 million by 2028 from €553 million in 2023, averaging a yearly drop of 1.4%. Since 2019, the Serbian market has seen a 3.7% annual decrease in apparel sales. In 2023, Serbia was ranked 15th in apparel sales, with Austria surpassing it at €553 million. Germany, France, and Spain held the second, third, and fourth positions in this category, respectively.
