Bulgaria: Agricultural Forestry Machinery Market 2024

Agricultural Forestry Machinery Market Size in Bulgaria

The Bulgarian agricultural forestry machinery market surged to $X in 2022, jumping by 44% against the previous year. Over the period under review, the total consumption indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +90.4% against 2020 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Agricultural Forestry Machinery Production in Bulgaria

In value terms, agricultural forestry machinery production fell slightly to $X in 2022 estimated in export price. In general, production, however, saw slight growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 70%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Agricultural Forestry Machinery Exports

Exports from Bulgaria

Agricultural forestry machinery exports from Bulgaria shrank rapidly to X units in 2022, which is down by -18.9% against 2021 figures. Over the period under review, exports, however, posted modest growth. The growth pace was the most rapid in 2014 with an increase of 103% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, agricultural forestry machinery exports contracted remarkably to $X in 2022. Overall, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of 245% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Romania (X units), Italy (X units) and Greece (X units) were the main destinations of agricultural forestry machinery exports from Bulgaria, with a combined 80% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +56.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for agricultural forestry machinery (lawn or sportsground rollers) exports from Bulgaria, comprising 47% of total exports. The second position in the ranking was taken by Romania ($X), with a 16% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +35.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-7.8% per year) and Italy (+48.3% per year).

Export Prices by Country

In 2022, the average agricultural forestry machinery export price amounted to $X per unit, which is down by -36.5% against the previous year. In general, the export price, however, continues to indicate strong growth. The pace of growth was the most pronounced in 2017 when the average export price increased by 448% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+32.4%), while the prices for the other major destinations experienced more modest paces of growth.

Agricultural Forestry Machinery Imports

Imports into Bulgaria

In 2022, supplies from abroad of agricultural forestry machinery (lawn or sportsground rollers) increased by 51% to X units, rising for the second year in a row after three years of decline. Overall, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +98.5% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, agricultural forestry machinery imports skyrocketed to $X in 2022. Over the period under review, total imports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +79.9% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of 41%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X units), Denmark (X units) and Italy (X units) were the main suppliers of agricultural forestry machinery imports to Bulgaria, with a combined 63% share of total imports. Turkey, Ukraine, Poland, France, Spain, the Netherlands and the Czech Republic lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +25.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Denmark ($X) appeared to be the largest agricultural forestry machinery suppliers to Bulgaria, with a combined 75% share of total imports. Turkey, Poland, Spain, France, Ukraine, the Netherlands and the Czech Republic lagged somewhat behind, together comprising a further 17%.

Ukraine, with a CAGR of +24.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average agricultural forestry machinery import price stood at $X per unit in 2022, declining by -6.8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 47%. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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