Bulgaria: Market for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal 2024

Market Size for Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Bulgaria

In 2022, the Bulgarian market for articles of goldsmiths’ wares of base metal clad with precious metal decreased by 0% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption, however, faced a dramatic decline. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal in Bulgaria

In value terms, production of articles of goldsmiths’ wares of base metal clad with precious metal contracted to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 65% against the previous year. Over the period under review, production of attained the maximum level at $X in 2019; afterwards, it flattened through to 2022.

Exports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Exports from Bulgaria

In 2022, shipments abroad of articles of goldsmiths’ wares of base metal clad with precious metal decreased by 0% to X kg, falling for the third consecutive year after two years of decline. In general, exports faced a precipitous curtailment. The smallest decline of -82.1% was in 2020. The exports peaked at X kg in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X in 2022. Overall, exports showed a significant curtailment. The smallest decline of -75% was in 2020. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Armenia (X kg) was the main destination for exports of articles of goldsmiths’ wares of base metal clad with precious metal from Bulgaria, with a approx. 100% share of total exports.

From 2017 to 2022, the average annual growth rate of volume to Armenia was relatively modest.

From 2017 to 2022, the average annual growth rate of value to Armenia was relatively modest.

Export Prices by Country

The average export price for articles of goldsmiths’ wares of base metal clad with precious metal stood at $X per ton in 2022, almost unchanged from the previous year. Over the period under review, the export price saw a precipitous slump. The pace of growth appeared the most rapid in 2020 when the average export price increased by 39%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Armenia.

From 2017 to 2022, the rate of growth in terms of prices for Poland amounted to +42.8% per year.

Imports of Articles of Goldsmiths’ Wares of Base Metal Clad with Precious Metal

Imports into Bulgaria

In 2022, supplies from abroad of articles of goldsmiths’ wares of base metal clad with precious metal increased by 1,849% to X tons, rising for the second year in a row after five years of decline. Over the period under review, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 6,900% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, imports of articles of goldsmiths’ wares of base metal clad with precious metal surged to $X in 2022. Overall, imports showed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 9,688%. Imports peaked in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Italy (X tons) constituted the largest precious metal-clad goldsmiths ware articles of base metals supplier to Bulgaria, with a 78% share of total imports. Moreover, imports of articles of goldsmiths’ wares of base metal clad with precious metal from Italy exceeded the figures recorded by the second-largest supplier, Portugal (X kg), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +71.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (0.0% per year) and the Netherlands (-32.2% per year).

In value terms, the largest precious metal-clad goldsmiths ware articles of base metals suppliers to Bulgaria were Italy ($X), Portugal ($X) and the Netherlands ($X), with a combined 99% share of total imports.

Among the main suppliers, Italy, with a CAGR of +33.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for articles of goldsmiths’ wares of base metal clad with precious metal amounted to $X per ton, surging by 16% against the previous year. Overall, the import price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 87%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+24.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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