Bulgaria: Hay-Making Machinery Market 2025

Hay-Making Machinery Market Size in Bulgaria

After two years of growth, the Bulgarian hay-making machinery market decreased by -1.3% to $X in 2021. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped slightly in the following year.

Hay-Making Machinery Production in Bulgaria

In value terms, hay-making machinery production contracted to $X in 2021 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X, and then shrank in the following year.

Hay-Making Machinery Exports

Exports from Bulgaria

In 2021, after two years of growth, there was significant decline in shipments abroad of hay-making machinery, when their volume decreased by -88.7% to X units. In general, exports, however, continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 729%. The exports peaked at X units in 2020, and then shrank sharply in the following year.

In value terms, hay-making machinery exports dropped sharply to $X in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2019 when exports increased by 422% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then declined rapidly in the following year.

Exports by Country

Romania (X units) was the main destination for hay-making machinery exports from Bulgaria, accounting for a 75% share of total exports. Moreover, hay-making machinery exports to Romania exceeded the volume sent to the second major destination, North Macedonia (X units), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Romania stood at +13.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (0.0% per year) and Greece (0.0% per year).

In value terms, Romania ($X) emerged as the key foreign market for hay-making machinery exports from Bulgaria, comprising 74% of total exports. The second position in the ranking was held by North Macedonia ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania amounted to +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+62.2% per year) and Greece (-12.7% per year).

Export Prices by Country

The average hay-making machinery export price stood at $X per unit in 2021, with an increase of 89% against the previous year. Overall, the export price, however, continues to indicate a mild setback. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was North Macedonia ($X per unit), while the average price for exports to Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Hay-Making Machinery Imports

Imports into Bulgaria

After two years of decline, overseas purchases of hay-making machinery increased by 51% to X units in 2021. In general, imports posted significant growth. The growth pace was the most rapid in 2013 with an increase of 84%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, hay-making machinery imports skyrocketed to $X in 2021. Overall, imports recorded a significant increase. The pace of growth appeared the most rapid in 2013 when imports increased by 194% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

France (X units), Turkey (X units) and Poland (X units) were the main suppliers of hay-making machinery imports to Bulgaria, together comprising 44% of total imports. These countries were followed by Germany, Italy, Serbia, Denmark, Russia, the UK, Israel, Slovenia, the Czech Republic and Austria, which together accounted for a further 51%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +41.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X) constituted the largest supplier of hay-making machinery to Bulgaria, comprising 23% of total imports. The second position in the ranking was taken by Poland ($X), with a 9.9% share of total imports. It was followed by Germany, with a 9.6% share.

From 2012 to 2021, the average annual growth rate of value from France totaled +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+30.9% per year) and Germany (+14.1% per year).

Import Prices by Country

In 2021, the average hay-making machinery import price amounted to $X per unit, jumping by 21% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.5%. The growth pace was the most rapid in 2013 when the average import price increased by 61% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

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 Austria ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :