Bulgaria: Granite Building Stone Market 2024

Granite Building Stone Market Size in Bulgaria

The Bulgarian granite building stone market expanded sharply to $X in 2021, growing by 11% against the previous year. Overall, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -17.8% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Granite Building Stone Production in Bulgaria

In value terms, granite building stone production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +41.0% against 2013 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 28%. Granite building stone production peaked at $X in 2020, and then reduced in the following year.

Granite Building Stone Exports

Exports from Bulgaria

Granite building stone exports from Bulgaria soared to X tons in 2021, rising by 104% on 2020 figures. Overall, exports showed a measured expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 290%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, granite building stone exports soared to $X in 2021. In general, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2016 when exports increased by 156%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for granite building stone exports from Bulgaria, accounting for a 93% share of total exports. Moreover, granite building stone exports to Romania exceeded the volume sent to the second major destination, Serbia (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +30.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-9.3% per year) and Greece (-37.5% per year).

In value terms, Romania ($X) remains the key foreign market for granite building stone exports from Bulgaria, comprising 66% of total exports. The second position in the ranking was taken by Serbia ($X), with a 10% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Romania stood at +23.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-11.2% per year) and Greece (-41.1% per year).

Export Prices by Country

In 2021, the average granite building stone export price amounted to $X per ton, surging by 8.1% against the previous year. Overall, the export price, however, saw a abrupt descent. The growth pace was the most rapid in 2016 when the average export price increased by 118%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+8.8%), while the prices for the other major destinations experienced a decline.

Granite Building Stone Imports

Imports into Bulgaria

In 2021, overseas purchases of granite building stone were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -29.4% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 55% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, granite building stone imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.3% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 59%. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), India (X tons) and Iran (X tons) were the main suppliers of granite building stone imports to Bulgaria, with a combined 69% share of total imports. Turkey, Egypt, Brazil and North Macedonia lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +92.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Iran ($X) were the largest granite building stone suppliers to Bulgaria, with a combined 73% share of total imports. Turkey, Egypt, Brazil and North Macedonia lagged somewhat behind, together comprising a further 22%.

Among the main suppliers, Egypt, with a CAGR of +97.9%, saw 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

The average granite building stone import price stood at $X per ton in 2021, with an increase of 17% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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