Bulgaria: Bumper Market 2024

Bumper Market Size in Bulgaria

The Bulgarian bumper market rose modestly to $X in 2022, growing by 1.8% against the previous year. In general, consumption enjoyed a buoyant increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Bumper Production in Bulgaria

In value terms, bumper production rose to $X in 2022 estimated in export price. Over the period under review, production showed a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of 25%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Bumper Exports

Exports from Bulgaria

In 2022, shipments abroad of bumpers increased by 4.2% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 185% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, bumper exports reached $X in 2022. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 197% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Romania (X tons) and the Czech Republic (X tons) were the main destinations of bumper exports from Bulgaria, with a combined 67% share of total exports. Germany, Italy, Serbia, France and Egypt lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +66.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Turkey ($X) and the Czech Republic ($X) constituted the largest markets for bumper exported from Bulgaria worldwide, with a combined 62% share of total exports. Germany, Italy, France, Serbia and Egypt lagged somewhat behind, together accounting for a further 27%.

Serbia, with a CAGR of +73.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average bumper export price amounted to $X per ton, with an increase of 9.3% against the previous year. In general, export price indicated notable growth from 2012 to 2022: its price 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, bumper export price increased by +42.9% against 2018 indices. The pace of growth was the most pronounced in 2016 when the average export price increased by 44% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Bumper Imports

Imports into Bulgaria

In 2022, imports of bumpers into Bulgaria fell to X tons, shrinking by -5.1% against the year before. Over the period under review, imports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 38%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, bumper imports rose notably to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% 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 +28.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest bumper supplier to Bulgaria, with a 56% share of total imports. Moreover, bumper imports from Turkey exceeded the figures recorded by the second-largest supplier, Poland (X tons), eightfold. Italy (X tons) ranked third in terms of total imports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+16.1% per year) and Italy (-0.9% per year).

In value terms, Turkey ($X) constituted the largest supplier of bumpers to Bulgaria, comprising 47% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by China, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.1% per year) and China (+25.5% per year).

Import Prices by Country

In 2022, the average bumper import price amounted to $X per ton, picking up by 12% against the previous year. In general, the import price, however, showed a slight shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 12%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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 Slovakia ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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