Bulgaria: Iron Ore Market 2021

Iron Ore Market Size in Bulgaria

In 2019, the Bulgarian iron ore market increased by X% to $X, rising for the fourth year in a row after two years of decline. In general, consumption, however, saw a sharp curtailment. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Iron ore consumption peaked at $X in 2008; however, from 2009 to 2019, consumption remained at a lower figure.

Iron Ore Production in Bulgaria

In value terms, iron ore production fell modestly to $X in 2019 estimated in export prices. In general, production continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2017 when the production volume increased by X% year-to-year. Iron ore production peaked at $X in 2009; however, from 2010 to 2019, production remained at a lower figure.

Iron Ore Exports

Exports from Bulgaria

In 2019, approx. X tons of iron ores were exported from Bulgaria; falling by -X% compared with 2018 figures. In general, exports, however, showed a strong expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, exports reached the peak figure at X tons in 2015; however, from 2016 to 2019, exports failed to regain the momentum.

In value terms, iron ore exports contracted to $X in 2019. Over the period under review, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. Over the period under review, exports reached the peak figure at $X in 2007; however, from 2008 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons) was the main destination for iron ore exports from Bulgaria, accounting for a X% share of total exports. Moreover, iron ore exports to Slovakia exceeded the volume sent to the second major destination, Hungary (X tons), sevenfold.

From 2007 to 2019, the average annual rate of growth in terms of volume to Slovakia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+X% per year) and the Czech Republic (+X% per year).

In value terms, Slovakia ($X) remains the key foreign market for iron ore exports from Bulgaria, comprising X% of total exports. The second position in the ranking was occupied by Hungary ($X), with a X% share of total exports.

From 2007 to 2019, the average annual rate of growth in terms of value to Slovakia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-X% per year) and the Czech Republic (+X% per year).

Export Prices by Country

The average iron ore export price stood at $X per ton in 2019, picking up by X% against the previous year. Overall, the export price, however, continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 when the average export price increased by X% against the previous year. Over the period under review, average export prices hit record highs at $X per ton in 2007; however, from 2008 to 2019, export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2019, the country with the highest price was Hungary ($X per ton), while the average price for exports to Slovakia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic, while the prices for the other major destinations experienced a decline.

Iron Ore Imports

Imports into Bulgaria

Iron ore imports into Bulgaria contracted to X tons in 2019, reducing by -X% on the year before. Over the period under review, imports saw a sharp shrinkage. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2007; however, from 2008 to 2019, imports failed to regain the momentum.

In value terms, iron ore imports reduced to $X in 2019. Overall, imports recorded a dramatic setback. The pace of growth appeared the most rapid in 2017 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure at $X in 2007; however, from 2008 to 2019, imports remained at a lower figure.

Imports by Country

In 2019, Serbia (X tons) constituted the largest supplier of iron ore to Bulgaria, with a X% share of total imports. Moreover, iron ore imports from Serbia exceeded the figures recorded by the second-largest supplier, Romania (X tons), threefold. The third position in this ranking was occupied by Ukraine (X tons), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Serbia amounted to -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (-X% per year) and Ukraine (-X% per year).

In value terms, the largest iron ore suppliers to Bulgaria were Romania ($X), Serbia ($X) and Ukraine ($X), with a combined X% share of total imports. These countries were followed by Russia, which accounted for a further X saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average iron ore import price stood at $X per ton in 2019, remaining constant against the previous year. In general, the import price saw a abrupt slump. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The import price peaked at $X per ton in 2007; however, from 2008 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Romania ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Romania, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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