Bulgaria: Festive Articles Market 2024

Festive Articles Market Size in Bulgaria

The Bulgarian festive articles market skyrocketed to $X in 2022, increasing by 74% against the previous year. Overall, consumption enjoyed a significant expansion. Festive articles consumption peaked in 2022 and is expected to retain growth in the near future.

Festive Articles Production in Bulgaria

In value terms, festive articles production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 17% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Festive Articles Exports

Exports from Bulgaria

In 2022, overseas shipments of festive or carnival articles increased by 15% to X tons, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when exports increased by 22% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, festive articles exports skyrocketed to $X in 2022. Overall, exports saw strong growth. The growth pace was the most rapid in 2018 with an increase of 65% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons) was the main destination for festive articles exports from Bulgaria, accounting for a 86% share of total exports. Moreover, festive articles exports to Germany exceeded the volume sent to the second major destination, Serbia (X tons), more than tenfold. The third position in this ranking was held by Poland (X tons), with a 2.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany totaled +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+0.4% per year) and Poland (-13.8% per year).

In value terms, Germany ($X) remains the key foreign market for festive or carnival articles exports from Bulgaria, comprising 91% of total exports. The second position in the ranking was held by Serbia ($X), with a 2.9% share of total exports. It was followed by Romania, with a 1.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany amounted to +12.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+12.7% per year) and Romania (+67.8% per year).

Export Prices by Country

In 2022, the average festive articles export price amounted to $X per ton, rising by 11% against the previous year. In general, the export price posted a resilient increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by 50% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($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 Poland (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Festive Articles Imports

Imports into Bulgaria

In 2022, purchases abroad of festive or carnival articles increased by 76% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, festive articles imports skyrocketed to $X in 2022. Overall, imports recorded a strong increase. The growth pace was the most rapid in 2018 with an increase of 82% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest festive articles supplier to Bulgaria, with a 56% share of total imports. Moreover, festive articles imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. Poland (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +6.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+39.1% per year) and Poland (+36.9% per year).

In value terms, China ($X), Poland ($X) and Italy ($X) constituted the largest festive articles suppliers to Bulgaria, together comprising 72% of total imports.

Italy, with a CAGR of +77.4%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average festive articles import price amounted to $X per ton, waning by -2.9% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, festive articles import price increased by +35.0% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 39%. As a result, import price attained the peak level of $X per ton, and then declined slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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