Bulgaria: Market for Household Washing and Drying Machines 2024

Market Size for Household Washing and Drying Machines in Bulgaria

The Bulgarian washing and drying machine market skyrocketed to $X in 2021, picking up by 28% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded resilient growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in the near future.

Exports of Household Washing and Drying Machines

Exports from Bulgaria

In 2021, shipments abroad of household washing and drying machines decreased by -17% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2018 when exports increased by 71%. The exports peaked at X tons in 2020, and then fell remarkably in the following year.

In value terms, washing and drying machine exports dropped modestly to $X in 2021. Overall, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 79% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020, and then contracted in the following year.

Exports by Country

Greece (X tons) was the main destination for washing and drying machine exports from Bulgaria, with a 64% share of total exports. Moreover, washing and drying machine exports to Greece exceeded the volume sent to the second major destination, Italy (X tons), sixfold. The third position in this ranking was held by Romania (X tons), with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume to Greece stood at +26.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+9.4% per year) and Romania (+7.5% per year).

In value terms, Greece ($X) remains the key foreign market for household washing and drying machines exports from Bulgaria, comprising 61% of total exports. The second position in the ranking was taken by Italy ($X), with an 8.9% share of total exports. It was followed by Romania, with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece stood at +28.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+10.3% per year) and Romania (+14.2% per year).

Export Prices by Country

In 2021, the average washing and drying machine export price amounted to $X per ton, with an increase of 18% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per ton), while the average price for exports to Italy ($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 Israel (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Household Washing and Drying Machines

Imports into Bulgaria

For the fourth year in a row, Bulgaria recorded growth in purchases abroad of household washing and drying machines, which increased by 13% to X tons in 2021. Over the period under review, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +97.7% against 2012 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 23%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, washing and drying machine imports surged to $X in 2021. In general, imports posted a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 34% against the previous year. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

Romania (X tons), Turkey (X tons) and Hungary (X tons) were the main suppliers of washing and drying machine imports to Bulgaria, together accounting for 59% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +24.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Turkey ($X) and Hungary ($X) appeared to be the largest washing and drying machine suppliers to Bulgaria, with a combined 59% share of total imports.

In terms of the main suppliers, Romania, with a CAGR of +25.5%, recorded the highest growth rate of 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 washing and drying machine import price stood at $X per ton in 2021, increasing by 7.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2018 an increase of 9.1% against the previous year. The import price peaked in 2021 and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Hungary ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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