Bulgaria: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Bulgaria

After two years of growth, the Bulgarian industrial sewing machine market decreased by -27.5% to $X in 2022. Overall, consumption saw a perceptible curtailment. Industrial sewing machine consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Industrial Sewing Machine Exports

Exports from Bulgaria

In 2022, shipments abroad of industrial sewing machines increased by 130% to X units for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports saw a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 173%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, industrial sewing machine exports shrank significantly to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 49% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Israel (X units) was the main destination for industrial sewing machine exports from Bulgaria, with a 79% share of total exports. Moreover, industrial sewing machine exports to Israel exceeded the volume sent to the second major destination, Albania (X units), more than tenfold. The third position in this ranking was taken by Turkey (X units), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume to Israel totaled +149.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (+20.1% per year) and Turkey (+3.2% per year).

In value terms, the largest markets for industrial sewing machine exported from Bulgaria were Israel ($X), Albania ($X) and Turkey ($X), together accounting for 71% of total exports.

In terms of the main countries of destination, Israel, with a CAGR of +83.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average industrial sewing machine export price amounted to $X per unit, reducing by -67.1% against the previous year. Overall, the export price showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the average export price increased by 93% against the previous year. The export price peaked 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 Albania ($X per unit), while the average price for exports to Israel ($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.

Industrial Sewing Machine Imports

Imports into Bulgaria

In 2022, purchases abroad of industrial sewing machines increased by 18% to X units, rising for the third consecutive year after two years of decline. Overall, total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.9% 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 +36.5% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 30%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, industrial sewing machine imports contracted to $X in 2022. In general, imports, however, recorded a mild contraction. The growth pace was the most rapid in 2013 with an increase of 31%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the Czech Republic (X units) and the Netherlands (X units) were the main suppliers of industrial sewing machine imports to Bulgaria, together accounting for 69% of total imports. Poland, Turkey, Latvia, Lithuania, Germany, Italy and Romania lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +154.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of industrial sewing machines to Bulgaria, comprising 34% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by the Netherlands, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +11.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-7.0% per year) and the Netherlands (-7.1% per year).

Import Prices by Country

In 2022, the average industrial sewing machine import price amounted to $X per unit, falling by -20.1% against the previous year. Over the period under review, the import price continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2021 an increase of 17% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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 ($X per unit), while the price for Lithuania ($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 (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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