Bulgaria: Knitted Fabric Market 2024

Knitted Fabric Market Size in Bulgaria

After two years of decline, the Bulgarian knitted fabric market increased by 7.9% to $X in 2021. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Knitted Fabric Production in Bulgaria

In value terms, knitted fabric production declined remarkably to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by 101% against the previous year. As a result, production reached the peak level of $X, and then plummeted in the following year.

Knitted Fabric Exports

Exports from Bulgaria

In 2021, knitted fabric exports from Bulgaria surged to X tons, growing by 73% on the previous year. Overall, exports saw a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric exports surged to $X in 2021. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.7% 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 +58.9% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons) was the main destination for knitted fabric exports from Bulgaria, accounting for a 60% share of total exports. Moreover, knitted fabric exports to Turkey exceeded the volume sent to the second major destination, Greece (X tons), fivefold. The Czech Republic (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey totaled +41.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+5.8% per year) and the Czech Republic (+76.8% per year).

In value terms, Turkey ($X), Greece ($X) and Italy ($X) constituted the largest markets for knitted fabric exported from Bulgaria worldwide, together accounting for 73% of total exports. The Czech Republic, Romania and Austria lagged somewhat behind, together accounting for a further 7.6%.

The Czech Republic, with a CAGR of +39.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average knitted fabric export price stood at $X per ton in 2021, which is down by -18% against the previous year. In general, the export price recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 when the average export price increased by 9.7%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+13.3%), while the prices for the other major destinations experienced mixed trend patterns.

Knitted Fabric Imports

Imports into Bulgaria

In 2021, supplies from abroad of knitted or crocheted fabrics increased by 31% to X tons, rising for the sixth year in a row after two years of decline. The total import volume increased at an average annual rate of +6.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, knitted fabric imports surged to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), China (X tons) and Greece (X tons) were the main suppliers of knitted fabric imports to Bulgaria, together accounting for 77% of total imports. These countries were followed by Italy, Serbia and Germany, which together accounted for a further 11%.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +99.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Italy ($X) and Greece ($X) appeared to be the largest knitted fabric suppliers to Bulgaria, together accounting for 67% of total imports. These countries were followed by China, Serbia and Germany, which together accounted for a further 22%.

Serbia, with a CAGR of +111.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average knitted fabric import price stood at $X per ton in 2021, leveling off at the previous year. In general, the import price saw a perceptible shrinkage. The pace of growth was the most pronounced in 2014 when the average import price increased by 11%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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