Bulgaria: Pharmaceutical Rubber Articles Market 2024

Pharmaceutical Rubber Articles Market Size in Bulgaria

The Bulgarian pharmaceutical rubber articles market dropped rapidly to $X in 2021, reducing by -15.7% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined markedly in the following year.

Pharmaceutical Rubber Articles Production in Bulgaria

In value terms, pharmaceutical rubber articles production contracted dramatically to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when the production volume increased by 44%. As a result, production reached the peak level of $X, and then contracted significantly in the following year.

Pharmaceutical Rubber Articles Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded growth in overseas shipments of hygienic or pharmaceutical articles of rubber, which increased by 11% to X units in 2021. In general, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2020 when exports increased by 40%. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, pharmaceutical rubber articles exports reduced dramatically to $X in 2021. Over the period under review, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 116% against the previous year. As a result, the exports reached the peak of $X, and then fell rapidly in the following year.

Exports by Country

The UK (X units) was the main destination for pharmaceutical rubber articles exports from Bulgaria, accounting for a 59% share of total exports. Moreover, pharmaceutical rubber articles exports to the UK exceeded the volume sent to the second major destination, Ireland (X units), fourfold. The third position in this ranking was taken by Spain (X units), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK stood at +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ireland (0.0% per year) and Spain (+373.8% per year).

In value terms, the UK ($X) remains the key foreign market for hygienic or pharmaceutical articles of rubber exports from Bulgaria, comprising 75% of total exports. The second position in the ranking was taken by Spain ($X), with a 5.2% share of total exports. It was followed by Germany, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK stood at +4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+254.2% per year) and Germany (-9.4% per year).

Export Prices by Country

The average pharmaceutical rubber articles export price stood at $X per unit in 2021, waning by -48.3% against the previous year. Overall, the export price saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 an increase of 54%. As a result, the export price attained the peak level of $X per unit, and then dropped markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Ireland (less than $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 (+0.8%), while the prices for the other major destinations experienced a decline.

Pharmaceutical Rubber Articles Imports

Imports into Bulgaria

In 2021, supplies from abroad of hygienic or pharmaceutical articles of rubber decreased by -8% to X units, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when imports increased by 30% against the previous year. As a result, imports reached the peak of X units. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, pharmaceutical rubber articles imports amounted to $X in 2021. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +97.7% against 2017 indices. The most prominent rate of growth was recorded in 2019 with an increase of 45%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Germany (X units) constituted the largest pharmaceutical rubber articles supplier to Bulgaria, with a 37% share of total imports. Moreover, pharmaceutical rubber articles imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X units), threefold. Greece (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+119.3% per year) and Greece (+110.1% per year).

In value terms, Germany ($X) constituted the largest supplier of hygienic or pharmaceutical articles of rubber to Bulgaria, comprising 52% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total imports. It was followed by France, with a 7.6% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+107.2% per year) and France (-11.5% per year).

Import Prices by Country

The average pharmaceutical rubber articles import price stood at $X per unit in 2021, with an increase of 16% against the previous year. Over the last nine years, it increased at an average annual rate of +4.9%. The growth pace was the most rapid in 2013 when the average import price increased by 25%. The import price peaked in 2021 and is likely to see gradual growth in the near future.

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 Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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