Bulgaria: Gloves Market 2024

Gloves Market Size in Bulgaria

The Bulgarian gloves market skyrocketed to $X in 2022, picking up by 56% against the previous year. Over the period under review, consumption, however, continues to indicate a deep contraction. Gloves consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Gloves Production in Bulgaria

In value terms, gloves production soared to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of 4,757% against the previous year. Gloves production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Gloves Exports

Exports from Bulgaria

In 2022, approx. X pairs of gloves, mittens and mitts (excluding knitted or crocheted) were exported from Bulgaria; falling by -61.1% compared with the previous year. Over the period under review, exports continue to indicate a noticeable setback. The growth pace was the most rapid in 2019 with an increase of 542%. As a result, the exports attained the peak of X pairs. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, gloves exports contracted dramatically to $X in 2022. In general, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 265% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X pairs), Romania (X pairs) and Serbia (X pairs) were the main destinations of gloves exports from Bulgaria, together accounting for 81% of total exports. Russia, Poland, Cyprus, Germany and France lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +61.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X) remains the key foreign market for gloves, mittens and mitts (excluding knitted or crocheted) exports from Bulgaria, comprising 37% of total exports. The second position in the ranking was taken by Serbia ($X), with a 17% share of total exports. It was followed by Romania, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece totaled +42.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+13.1% per year) and Romania (+18.8% per year).

Export Prices by Country

In 2022, the average gloves export price amounted to $X per pair, surging by 16% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 112%. Over the period under review, the average export prices attained the peak figure at $X per pair in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per pair), while the average price for exports to Germany ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+3.7%), while the prices for the other major destinations experienced a decline.

Gloves Imports

Imports into Bulgaria

In 2022, supplies from abroad of gloves, mittens and mitts (excluding knitted or crocheted) was finally on the rise to reach X pairs after two years of decline. In general, imports, however, saw a perceptible downturn. The pace of growth was the most pronounced in 2017 with an increase of 86% against the previous year. Imports peaked at X pairs in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, gloves imports surged to $X in 2022. Overall, imports recorded strong growth. The growth pace was the most rapid in 2017 when imports increased by 48%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X pairs), Poland (X pairs) and Germany (X pairs) were the main suppliers of gloves imports to Bulgaria, with a combined 52% share of total imports. These countries were followed by Romania, Turkey, Italy, France, Hungary, the Netherlands, Greece, Vietnam, Belgium and Austria, which together accounted for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +55.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gloves suppliers to Bulgaria were Germany ($X), Romania ($X) and Poland ($X), together comprising 44% of total imports. China, Italy, France, Turkey, Vietnam, Belgium, Austria, the Netherlands, Greece and Hungary lagged somewhat behind, together accounting for a further 49%.

Among the main suppliers, Vietnam, with a CAGR of +56.5%, recorded the highest rates of growth with regard to the value of imports, 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 gloves import price amounted to $X per pair, jumping by 26% against the previous year. Overall, the import price enjoyed prominent growth. The pace of growth appeared the most rapid in 2020 an increase of 116% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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 Italy ($X per pair), while the price for Hungary ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+20.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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