Bulgaria: Market for Industrial Automatic Sewing Machines 2024

Market Size for Industrial Automatic Sewing Machines in Bulgaria

In 2022, after two years of growth, there was significant decline in the Bulgarian industrial automatic sewing machine market, when its value decreased by -11% to $X. Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Exports of Industrial Automatic Sewing Machines

Exports from Bulgaria

Industrial automatic sewing machine exports from Bulgaria soared to X units in 2022, picking up by 43% compared with 2021 figures. Overall, exports showed a prominent expansion. The growth pace was the most rapid in 2015 when exports increased by 453%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, industrial automatic sewing machine exports contracted significantly to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of 150%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Israel (X units) was the main destination for industrial automatic sewing machine exports from Bulgaria, accounting for a 59% share of total exports. Moreover, industrial automatic sewing machine exports to Israel exceeded the volume sent to the second major destination, Albania (X units), threefold. The third position in this ranking was taken by Turkey (X units), with a 9.7% share.

From 2012 to 2022, the average annual growth rate of volume to Israel was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+19.7% per year) and Turkey (+21.8% per year).

In value terms, the largest markets for industrial automatic sewing machine exported from Bulgaria were Albania ($X), Turkey ($X) and Israel ($X), with a combined 79% share of total exports. Serbia, Italy and North Macedonia lagged somewhat behind, together comprising a further 20%.

North Macedonia, with a CAGR of +24.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average industrial automatic sewing machine export price stood at $X per unit in 2022, falling by -56.7% against the previous year. Over the period under review, the export price showed a drastic downturn. The pace of growth was the most pronounced in 2016 an increase of 330%. Over the period under review, the average export prices attained the maximum at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+45.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Automatic Sewing Machines

Imports into Bulgaria

Industrial automatic sewing machine imports into Bulgaria rose significantly to X units in 2022, increasing by 6% against the year before. In general, imports saw a strong expansion. The growth pace was the most rapid in 2020 with an increase of 46%. As a result, imports reached the peak of X units. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial automatic sewing machine imports reduced slightly to $X in 2022. Over the period under review, total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +52.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 58% against the previous year. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest industrial automatic sewing machine supplier to Bulgaria, with a 74% share of total imports. Moreover, industrial automatic sewing machine imports from China exceeded the figures recorded by the second-largest supplier, Poland (X units), sevenfold. Sweden (X units) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +24.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+7.5% per year) and Sweden (+72.9% per year).

In value terms, China ($X) constituted the largest supplier of industrial automatic sewing machines to Bulgaria, comprising 48% of total imports. The second position in the ranking was taken by Sweden ($X), with a 22% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+57.4% per year) and Germany (-7.0% per year).

Import Prices by Country

The average industrial automatic sewing machine import price stood at $X per unit in 2022, dropping by -8.7% against the previous year. Overall, the import price continues to indicate a deep setback. The pace of growth was the most pronounced in 2021 when the average import price increased by 103%. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Germany ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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