Bulgaria: Market for Iron or Steel Wire Products 2024

Market Size for Iron or Steel Wire Products in Bulgaria

The Bulgarian market for iron or steel wire products surged to $X in 2022, increasing by X% against the previous year. Over the period under review, consumption, however, recorded a abrupt decrease. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Iron or Steel Wire Products in Bulgaria

In value terms, iron or steel wire product production stood at $X in 2022 estimated in export price. Over the period under review, production showed a buoyant increase. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. Iron or steel wire product production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Iron or Steel Wire Products

Exports from Bulgaria

In 2022, overseas shipments of iron or steel wire products decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, iron or steel wire product exports dropped markedly to $X in 2022. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then reduced markedly in the following year.

Exports by Country

Germany (X tons), Belgium (X tons) and Portugal (X tons) were the main destinations of iron or steel wire product exports from Bulgaria, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron or steel wire product exported from Bulgaria were Germany ($X), Belgium ($X) and Romania ($X), together comprising X% of total exports. France, Portugal, Poland, the Czech Republic, Austria, Morocco, Greece, Italy, Slovakia and the UK lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Portugal, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for iron or steel wire products stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

Imports of Iron or Steel Wire Products

Imports into Bulgaria

In 2022, purchases abroad of iron or steel wire products was finally on the rise to reach X tons after two years of decline. Over the period under review, imports saw a strong increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, iron or steel wire product imports expanded notably to $X in 2022. Overall, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

North Macedonia (X tons), Germany (X tons) and Ukraine (X tons) were the main suppliers of iron or steel wire product imports to Bulgaria, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by North Macedonia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron or steel wire products to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by China ($X), with an X% share of total imports. It was followed by the Czech Republic, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and the Czech Republic (X% per year).

Import Prices by Country

In 2022, the average import price for iron or steel wire products amounted to $X per ton, rising by X% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, iron or steel wire product import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in the near future.

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

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

Source: IndexBox Platform

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