Bulgaria: Ether Market 2024

Ether Market Size in Bulgaria

The Bulgarian ether market reduced slightly to $X in 2022, dropping by -4.6% against the previous year. Over the period under review, consumption continues to indicate a mild reduction. Ether consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Ether Production in Bulgaria

In value terms, ether production fell modestly to $X in 2022 estimated in export price. In general, production saw a noticeable contraction. The pace of growth appeared the most rapid in 2017 with an increase of 75%. Ether production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ether Exports

Exports from Bulgaria

In 2022, overseas shipments of ethers increased by 162% to X tons, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a significant increase. The growth pace was the most rapid in 2013 when exports increased by 601%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, ether exports expanded to $X in 2022. Overall, exports saw significant growth. The growth pace was the most rapid in 2013 when exports increased by 349% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Spain (X tons) was the main destination for ether exports from Bulgaria, with a 86% share of total exports. Moreover, ether exports to Spain exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold. Russia (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+63.2% per year) and Russia (+78.9% per year).

In value terms, Spain ($X) emerged as the key foreign market for ethers exports from Bulgaria, comprising 65% of total exports. The second position in the ranking was held by Turkey ($X), with a 6.4% share of total exports. It was followed by Russia, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+45.6% per year) and Russia (+69.1% per year).

Export Prices by Country

In 2022, the average ether export price amounted to $X per ton, waning by -60.8% against the previous year. Over the period under review, the export price faced a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of 80%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Spain ($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 Greece (+2.5%), while the prices for the other major destinations experienced a decline.

Ether Imports

Imports into Bulgaria

In 2022, purchases abroad of ethers increased by 30% to X tons, rising for the second year in a row after four years of decline. In general, imports continue to indicate strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 275%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, ether imports declined to $X in 2022. Overall, imports showed a buoyant increase. The growth pace was the most rapid in 2014 with an increase of 327% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Romania (X tons) constituted the largest ether supplier to Bulgaria, with a 64% share of total imports. Moreover, ether imports from Romania exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. Greece (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual growth rate of volume from Romania stood at +123.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.2% per year) and Greece (+66.3% per year).

In value terms, Romania ($X) constituted the largest supplier of ethers to Bulgaria, comprising 32% of total imports. The second position in the ranking was taken by Turkey ($X), with a 13% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Romania totaled +116.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.9% per year) and Germany (+2.7% per year).

Import Prices by Country

In 2022, the average ether import price amounted to $X per ton, dropping by -29.8% against the previous year. Over the period under review, the import price saw a pronounced contraction. The pace of growth appeared the most rapid in 2017 an increase of 37% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, 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 France ($X per ton), while the price for Romania ($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 (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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