Bulgaria: Market for Instruments for Measuring Electrical Quantities 2024

Market Size for Instruments for Measuring Electrical Quantities in Bulgaria

The Bulgarian market for instruments for measuring electrical quantities fell significantly to $X in 2021, which is down by -38.2% against the previous year. Over the period under review, consumption saw a abrupt setback. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Production of Instruments for Measuring Electrical Quantities in Bulgaria

In value terms, instruments for measuring electrical quantities production declined dramatically to $X in 2021 estimated in export price. Overall, production saw a deep setback. The growth pace was the most rapid in 2020 with an increase of 38,440% against the previous year. Instruments for measuring electrical quantities production peaked at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Exports of Instruments for Measuring Electrical Quantities

Exports from Bulgaria

In 2021, exports of instruments for measuring electrical quantities from Bulgaria skyrocketed to X units, picking up by 34% compared with the previous year. In general, exports posted a pronounced expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 154%. The exports peaked at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, instruments for measuring electrical quantities exports reached $X in 2021. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 895% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X units) was the main destination for instruments for measuring electrical quantities exports from Bulgaria, with a 38% share of total exports. Moreover, instruments for measuring electrical quantities exports to Romania exceeded the volume sent to the second major destination, Serbia (X units), twofold. Turkey (X units) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +106.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+32.3% per year) and Turkey (+9.7% per year).

In value terms, the largest markets for instruments for measuring electrical quantities exported from Bulgaria were Turkey ($X), Romania ($X) and Serbia ($X), with a combined 53% share of total exports.

Among the main countries of destination, Romania, with a CAGR of +78.4%, saw the highest growth rate of 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

The average export price for instruments for measuring electrical quantities stood at $X per unit in 2021, dropping by -24.9% against the previous year. Over the period under review, the export price, however, recorded a perceptible increase. The most prominent rate of growth was recorded in 2014 an increase of 314% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was France ($X per unit), while the average price for exports to Russia ($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 France (+40.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Instruments for Measuring Electrical Quantities

Imports into Bulgaria

In 2021, purchases abroad of instruments for measuring electrical quantities increased by 3.4% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 263% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, instruments for measuring electrical quantities imports reached $X in 2021. Overall, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.9% 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 +18.5% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by 25% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X units) constituted the largest instruments for measuring electrical quantities supplier to Bulgaria, accounting for a 48% share of total imports. Moreover, instruments for measuring electrical quantities imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), threefold. Hong Kong SAR (X units) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +11.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.6% per year) and Hong Kong SAR (+29.6% per year).

In value terms, the largest instruments for measuring electrical quantities suppliers to Bulgaria were Germany ($X), China ($X) and the Czech Republic ($X), together accounting for 61% of total imports. These countries were followed by Hong Kong SAR, Turkey, Poland, Italy, Hungary and Austria, which together accounted for a further 17%.

Poland, with a CAGR of +29.8%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for instruments for measuring electrical quantities amounted to $X per unit, remaining constant against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by 208%. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a 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 Czech Republic ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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