Bulgaria: Refrigerator Or Freezer Market 2024

Refrigerator Or Freezer Market Size in Bulgaria

In 2022, the Bulgarian refrigerator or freezer market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, continues to indicate a mild decline. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Refrigerator Or Freezer Production in Bulgaria

In value terms, refrigerator or freezer production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 3,676% against the previous year. Refrigerator or freezer production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Refrigerator Or Freezer Exports

Exports from Bulgaria

In 2022, the amount of furniture designed to receive refrigerating or freezing equipment exported from Bulgaria surged to X units, increasing by 113% against the previous year's figure. In general, exports, however, showed a deep slump. The growth pace was the most rapid in 2018 when exports increased by 164% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, refrigerator or freezer exports surged to $X in 2022. Over the period under review, exports, however, showed a deep slump. The pace of growth was the most pronounced in 2018 when exports increased by 140%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units) was the main destination for refrigerator or freezer exports from Bulgaria, with a 79% share of total exports. Moreover, refrigerator or freezer exports to Germany exceeded the volume sent to the second major destination, Austria (X units), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to -5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (-5.0% per year) and Belgium (0.0% per year).

In value terms, Germany ($X) remains the key foreign market for furniture designed to receive refrigerating or freezing equipment exports from Bulgaria, comprising 61% of total exports. The second position in the ranking was taken by Belgium ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany totaled -11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (0.0% per year) and Austria (-10.9% per year).

Export Prices by Country

In 2022, the average refrigerator or freezer export price amounted to $X per unit, picking up by 7.4% against the previous year. Overall, the export price, however, continues to indicate a noticeable descent. The growth pace was the most rapid in 2017 an increase of 91% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2018 to 2022, the average 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 Belgium ($X per unit), while the average price for exports to Austria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-6.2%), while the prices for the other major destinations experienced a decline.

Refrigerator Or Freezer Imports

Imports into Bulgaria

In 2022, supplies from abroad of furniture designed to receive refrigerating or freezing equipment was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, imports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when imports increased by 98% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, refrigerator or freezer imports skyrocketed to $X in 2022. Overall, imports, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2014 when imports increased by 68%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X units) constituted the largest supplier of refrigerator or freezer to Bulgaria, with a 54% share of total imports. Moreover, refrigerator or freezer imports from Germany exceeded the figures recorded by the second-largest supplier, Switzerland (X units), twofold. Turkey (X units) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to -11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+5.6% per year) and Turkey (-1.0% per year).

In value terms, Germany ($X) constituted the largest supplier of furniture designed to receive refrigerating or freezing equipment to Bulgaria, comprising 57% of total imports. The second position in the ranking was taken by Italy ($X), with a 20% share of total imports. It was followed by Turkey, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to -4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.1% per year) and Turkey (+3.0% per year).

Import Prices by Country

The average refrigerator or freezer import price stood at $X per unit in 2022, which is down by -28.3% against the previous year. In general, the import price, however, enjoyed a strong increase. The pace of growth was the most pronounced in 2019 when the average import price increased by 104% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021, and then shrank remarkably in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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