Bulgaria: Measuring Instrument Market 2022

Measuring Instrument Market Size in Bulgaria

The Bulgarian measuring instrument market expanded to $X in 2021, picking up by 4.3% against the previous year. In general, consumption recorded resilient growth. Measuring instrument consumption peaked in 2021 and is expected to retain growth in the immediate term.

Measuring Instrument Production in Bulgaria

In value terms, measuring instrument production shrank slightly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 48% against the previous year. Measuring instrument production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Measuring Instrument Exports

Exports from Bulgaria

In 2021, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids was finally on the rise to reach X units after three years of decline. In general, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 13% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, measuring instrument exports skyrocketed to $X in 2021. Overall, total exports indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +69.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 41%. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Germany (X units) was the main destination for measuring instrument exports from Bulgaria, with a 80% share of total exports. Moreover, measuring instrument exports to Germany exceeded the volume sent to the second major destination, Italy (X units), eightfold. Sweden (X units) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2021, the average annual growth rate of volume to Germany amounted to -18.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+117.3% per year) and Sweden (+125.0% per year).

In value terms, Germany ($X) remains the key foreign market for measuring instrument exports from Bulgaria, comprising 74% of total exports. The second position in the ranking was taken by Sweden ($X), with a 3.4% share of total exports. It was followed by Italy, with a 1.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany amounted to +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+115.6% per year) and Italy (+72.4% per year).

Export Prices by Country

In 2021, the average measuring instrument export price amounted to $X per unit, rising by 29% against the previous year. Over the period under review, the export price recorded significant growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 236% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Sweden ($X per unit), while the average price for exports to Italy ($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 (+24.7%), while the prices for the other major destinations experienced a decline.

Measuring Instrument Imports

Imports into Bulgaria

In 2021, approx. X units of instruments and apparatus for measuring or checking the flow or level of liquids were imported into Bulgaria; approximately reflecting 2020 figures. Overall, total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +3.1% 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 +35.5% against 2019 indices. The growth pace was the most rapid in 2017 with an increase of 64%. Imports peaked at X units in 2020, and then fell modestly in the following year.

In value terms, measuring instrument imports reached $X in 2021. In general, imports saw a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 23% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Germany (X units), Italy (X units) and Turkey (X units) were the main suppliers of measuring instrument imports to Bulgaria, together accounting for 65% of total imports. China, Romania, Austria and the Netherlands lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +31.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of measuring instrument to Bulgaria, comprising 43% of total imports. The second position in the ranking was held by Italy ($X), with a 6% share of total imports. It was followed by Romania, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany amounted to -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-5.6% per year) and Romania (-3.4% per year).

Import Prices by Country

The average measuring instrument import price stood at $X per unit in 2021, with an increase of 1.5% against the previous year. Over the period under review, the import price, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2019 an increase of 28% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the Netherlands ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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