Bulgaria: Leather Footwear Market 2024

Leather Footwear Market Size in Bulgaria

The Bulgarian leather footwear market expanded to $X in 2021, surging by 2.9% against the previous year. Overall, consumption, however, continues to indicate a abrupt curtailment. Leather footwear consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Leather Footwear Production in Bulgaria

In value terms, leather footwear production contracted to $X in 2021 estimated in export price. In general, production recorded a deep contraction. The growth pace was the most rapid in 2014 when the production volume increased by 23%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Leather Footwear Exports

Exports from Bulgaria

In 2021, overseas shipments of leather footwear were finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. Overall, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2014 when exports increased by 5.5%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, leather footwear exports rose markedly to $X in 2021. In general, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of 10% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons) was the main destination for leather footwear exports from Bulgaria, accounting for a 52% share of total exports. Moreover, leather footwear exports to Italy exceeded the volume sent to the second major destination, Poland (X tons), sixfold. The third position in this ranking was taken by Croatia (X tons), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to -14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+61.0% per year) and Croatia (+190.4% per year).

In value terms, Italy ($X), Poland ($X) and Greece ($X) were the largest markets for leather footwear exported from Bulgaria worldwide, together accounting for 48% of total exports. Germany, Croatia, Romania, Slovenia, France, the Czech Republic, Hungary and Armenia lagged somewhat behind, together accounting for a further 33%.

Among the main countries of destination, Slovenia, with a CAGR of +147.1%, recorded the highest growth rate of 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

In 2021, the average leather footwear export price amounted to $X per kg, surging by 2.9% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, leather footwear export price increased by +79.1% against 2015 indices. The pace of growth was the most pronounced in 2020 when the average export price increased by 26%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per kg), while the average price for exports to Armenia ($X per kg) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+17.1%), while the prices for the other major destinations experienced more modest paces of growth.

Leather Footwear Imports

Imports into Bulgaria

In 2021, approx. X tons of leather footwear were imported into Bulgaria; jumping by 22% against the previous year's figure. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 23%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, leather footwear imports surged to $X in 2021. In general, imports saw a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Turkey (X tons) and Belgium (X tons) were the main suppliers of leather footwear imports to Bulgaria, with a combined 50% share of total imports. Italy, Germany, China, Romania, Greece, the Netherlands, Spain, the Czech Republic, Portugal and Slovakia lagged somewhat behind, together comprising a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +69.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of leather footwear to Bulgaria, comprising 33% of total imports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total imports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Poland totaled +74.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+53.0% per year) and Italy (-0.4% per year).

Import Prices by Country

In 2021, the average leather footwear import price amounted to $X per kg, increasing by 8.5% against the previous year. Overall, the import price showed a strong increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 29%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform