Bulgaria: Market for Industrial Sewing Machines (Non-Automatic) 2024

Market Size for Industrial Sewing Machines (Non-Automatic) in Bulgaria

In 2022, the Bulgarian industrial sewing machines (non-automatic) market decreased by -35.8% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a abrupt slump. Industrial sewing machines (non-automatic) consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Exports of Industrial Sewing Machines (Non-Automatic)

Exports from Bulgaria

In 2022, shipments abroad of industrial sewing machines (non-automatic) increased by 195% to X units, rising for the second consecutive year after two years of decline. Overall, exports showed a strong increase. The most prominent rate of growth was recorded in 2018 when exports increased by 235% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, industrial sewing machines (non-automatic) exports dropped slightly to $X in 2022. Over the period under review, exports, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 59%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Israel (X units) was the main destination for industrial sewing machines (non-automatic) exports from Bulgaria, with a 85% share of total exports. Moreover, industrial sewing machines (non-automatic) exports to Israel exceeded the volume sent to the second major destination, Turkey (X units), more than tenfold. The third position in this ranking was held by North Macedonia (X units), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume to Israel stood at +142.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-2.9% per year) and North Macedonia (+1.7% per year).

In value terms, Israel ($X) emerged as the key foreign market for industrial sewing machines (non-automatic) exports from Bulgaria, comprising 51% of total exports. The second position in the ranking was held by Turkey ($X), with an 8.4% share of total exports. It was followed by North Macedonia, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Israel stood at +78.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-8.4% per year) and North Macedonia (-3.1% per year).

Export Prices by Country

The average industrial sewing machines (non-automatic) export price stood at $X per unit in 2022, reducing by -66.3% against the previous year. Overall, the export price recorded a deep slump. The most prominent rate of growth was recorded in 2013 when the average export price increased by 67% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Israel ($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 Germany (+6.8%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Sewing Machines (Non-Automatic)

Imports into Bulgaria

In 2022, overseas purchases of industrial sewing machines (non-automatic) increased by 26% to X units, rising for the second consecutive year after three years of decline. In general, imports posted a slight increase. The pace of growth was the most pronounced in 2017 with an increase of 40% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, industrial sewing machines (non-automatic) imports dropped to $X in 2022. Overall, imports, however, saw a pronounced curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The Czech Republic (X units), China (X units) and the Netherlands (X units) were the main suppliers of industrial sewing machines (non-automatic) imports to Bulgaria, with a combined 65% share of total imports. Latvia, Turkey, Lithuania, Poland and Germany lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +154.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial sewing machines (non-automatic) suppliers to Bulgaria were Germany ($X), the Netherlands ($X) and Poland ($X), together accounting for 59% of total imports. China, the Czech Republic, Turkey, Latvia and Lithuania lagged somewhat behind, together accounting for a further 28%.

In terms of the main suppliers, Latvia, with a CAGR of +138.2%, saw 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 industrial sewing machines (non-automatic) import price stood at $X per unit in 2022, shrinking by -27.9% against the previous year. In general, the import price continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 when the average import price increased by 27%. Over the period under review, average import prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Lithuania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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