Bulgaria: Market for Agricultural And Forestry Tractors 2025

Market Size for Agricultural And Forestry Tractors in Bulgaria

In 2021, the Bulgarian agricultural and forestry tractor market increased by 19% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a remarkable increase. Agricultural and forestry tractor consumption peaked in 2021 and is expected to retain growth in the near future.

Production of Agricultural And Forestry Tractors in Bulgaria

In value terms, agricultural and forestry tractor production expanded notably to $X in 2021 estimated in export price. Over the period under review, production showed a buoyant increase. The pace of growth was the most pronounced in 2017 with an increase of 52%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Exports of Agricultural And Forestry Tractors

Exports from Bulgaria

In 2021, shipments abroad of agricultural and forestry tractors was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. In general, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, agricultural and forestry tractor exports soared to $X in 2021. Overall, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X units) was the main destination for agricultural and forestry tractor exports from Bulgaria, with a 82% share of total exports. Moreover, agricultural and forestry tractor exports to Romania exceeded the volume sent to the second major destination, Greece (X units), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Romania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+24.1% per year) and Moldova (-19.9% per year).

In value terms, Romania ($X) remains the key foreign market for agricultural and forestry tractors exports from Bulgaria, comprising 95% of total exports. The second position in the ranking was taken by Greece ($X), with a 1.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+23.1% per year) and Moldova (+6.5% per year).

Export Prices by Country

In 2021, the average agricultural and forestry tractor export price amounted to $X per unit, surging by 15% against the previous year. Overall, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2020 an increase of 87% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Moldova (+33.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Agricultural And Forestry Tractors

Imports into Bulgaria

In 2021, after two years of decline, there was significant growth in supplies from abroad of agricultural and forestry tractors, when their volume increased by 18% to X units. In general, imports, however, saw a slight reduction. The most prominent rate of growth was recorded in 2018 with an increase of 20%. Over the period under review, imports reached the maximum at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, agricultural and forestry tractor imports soared to $X in 2021. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 29%. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Italy (X units), Japan (X units) and Germany (X units) were the main suppliers of agricultural and forestry tractor imports to Bulgaria, together comprising 60% of total imports. These countries were followed by Turkey, France, Romania, South Korea, Poland, the UK, Belgium and the Netherlands, which together accounted for a further 32%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +22.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and France ($X) were the largest agricultural and forestry tractor suppliers to Bulgaria, with a combined 74% share of total imports. These countries were followed by Romania, Poland, Turkey, Japan, Belgium, South Korea, the UK and the Netherlands, which together accounted for a further 20%.

Among the main suppliers, South Korea, with a CAGR of +26.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average agricultural and forestry tractor import price amounted to $X per unit, growing by 2.9% against the previous year. Over the last nine years, it increased at an average annual rate of +3.8%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 42%. Over the period under review, average import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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