Bulgaria: Market for Coconut, Abaca, Ramie and other Vegetable Textile Fibres 2024

Market Size for Coconut, Abaca, Ramie and other Vegetable Textile Fibres in Bulgaria

The Bulgarian market for coconut, abaca, ramie and other vegetable textile fibres contracted sharply to $X in 2022, which is down by -27.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, enjoyed a prominent increase. Over the period under review, the market reached the peak level at $X in 2021, and then dropped sharply in the following year.

Exports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Exports from Bulgaria

Exports of coconut, abaca, ramie and other vegetable textile fibres from Bulgaria expanded significantly to X kg in 2022, picking up by 12% against 2021 figures. Overall, exports, however, faced a precipitous shrinkage. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of coconut, abaca, ramie and other vegetable textile fibres soared to $X in 2022. In general, exports posted perceptible growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X kg) was the main destination for exports of coconut, abaca, ramie and other vegetable textile fibres from Bulgaria, accounting for a 91% share of total exports. Moreover, exports of coconut, abaca, ramie and other vegetable textile fibres to Turkey exceeded the volume sent to the second major destination, North Macedonia (X kg), tenfold.

From 2019 to 2022, the average annual rate of growth in terms of volume to Turkey totaled +6,033.3%.

In value terms, Turkey ($X) emerged as the key foreign market for coconut, abaca, ramie and other vegetable textile fibres exports from Bulgaria, comprising 94% of total exports. The second position in the ranking was held by North Macedonia ($X), with a 5.9% share of total exports.

From 2019 to 2022, the average annual rate of growth in terms of value to Turkey totaled +4,640.9%.

Export Prices by Country

In 2022, the average export price for coconut, abaca, ramie and other vegetable textile fibres amounted to $X per ton, rising by 7.1% against the previous year. In general, the export price posted significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Turkey ($X per ton), while the average price for exports to North Macedonia stood at $X per ton.

From 2019 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+234.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Coconut, Abaca, Ramie and other Vegetable Textile Fibres

Imports into Bulgaria

Imports of coconut, abaca, ramie and other vegetable textile fibres into Bulgaria shrank remarkably to X tons in 2022, falling by -41.9% compared with the previous year. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 165%. Over the period under review, imports of attained the peak figure at X tons in 2021, and then declined significantly in the following year.

In value terms, imports of coconut, abaca, ramie and other vegetable textile fibres declined dramatically to $X in 2022. Over the period under review, imports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 204%. Over the period under review, imports of reached the maximum at $X in 2021, and then dropped markedly in the following year.

Imports by Country

In 2022, India (X tons) constituted the largest coconut, abaca, ramie and other vegetable textile fibre supplier to Bulgaria, accounting for a 71% share of total imports. Moreover, imports of coconut, abaca, ramie and other vegetable textile fibres from India exceeded the figures recorded by the second-largest supplier, Sri Lanka (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from India totaled +31.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (-2.1% per year) and Italy (+36.6% per year).

In value terms, India ($X) constituted the largest supplier of coconut, abaca, ramie and other vegetable textile fibres to Bulgaria, comprising 74% of total imports. The second position in the ranking was taken by Sri Lanka ($X), with an 18% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +31.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sri Lanka (-2.4% per year) and Italy (+11.5% per year).

Import Prices by Country

The average import price for coconut, abaca, ramie and other vegetable textile fibres stood at $X per ton in 2022, with an increase of 33% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for coconut, abaca, ramie and other vegetable textile fibres increased by +69.0% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform