Bulgaria: Electrical Circuit Apparatus Market 2022

Electrical Circuit Apparatus Market Size in Bulgaria

In 2021, the Bulgarian electrical circuit apparatus market decreased by -12.9% to $X for the first time since 2014, thus ending a six-year rising trend. Overall, consumption, however, showed a buoyant increase. Electrical circuit apparatus consumption peaked at $X in 2020, and then declined in the following year.

Electrical Circuit Apparatus Production in Bulgaria

In value terms, electrical circuit apparatus production rose significantly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by 15%. Electrical circuit apparatus production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Electrical Circuit Apparatus Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded growth in overseas shipments of electrical apparatus for circuit connection, switching and protection, which increased by 21% to X tons in 2021. Overall, total exports indicated buoyant growth from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +31.5% against 2018 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, electrical circuit apparatus exports skyrocketed to $X in 2021. In general, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Switzerland (X tons) and France (X tons) were the main destinations of electrical circuit apparatus exports from Bulgaria, together accounting for 41% of total exports. Spain, Hungary, Italy, Turkey, Romania, Sweden, the Netherlands and the United Arab Emirates lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +107.3%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for electrical circuit apparatus exports from Bulgaria, comprising 27% of total exports. The second position in the ranking was held by Switzerland ($X), with a 14% share of total exports. It was followed by France, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +14.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+18.2% per year) and France (-5.7% per year).

Export Prices by Country

In 2021, the average electrical circuit apparatus export price amounted to $X per ton, growing by 13% against the previous year. Over the last nine years, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2018 an increase of 22%. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports into Bulgaria

After nine years of growth, purchases abroad of electrical apparatus for circuit connection, switching and protection decreased by -18.9% to X tons in 2021. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 56%. Imports peaked at X tons in 2020, and then fell markedly in the following year.

In value terms, electrical circuit apparatus imports surged to $X in 2021. Over the period under review, total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +92.8% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest electrical circuit apparatus supplier to Bulgaria, accounting for a 39% share of total imports. Moreover, electrical circuit apparatus imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), fourfold. The third position in this ranking was taken by the Netherlands (X tons), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany totaled +30.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+30.1% per year) and the Netherlands (+71.0% per year).

In value terms, Germany ($X) constituted the largest supplier of electrical circuit apparatus to Bulgaria, comprising 31% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by the Czech Republic, with a 6.8% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+16.3% per year) and the Czech Republic (+13.6% per year).

Import Prices by Country

In 2021, the average electrical circuit apparatus import price amounted to $X per ton, increasing by 50% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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