Bulgaria: Knitting Machines Market 2024

Knitting Machines Market Size in Bulgaria

The Bulgarian knitting machines market surged to $X in 2021, increasing by 33% against the previous year. The market value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Knitting Machines Production in Bulgaria

In value terms, knitting machines production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt decrease. Knitting machines production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Knitting Machines Exports

Exports from Bulgaria

In 2021, shipments abroad of knitting machineses increased by 5% to X units, rising for the fourth year in a row after two years of decline. Overall, exports continue to indicate a significant increase. The growth pace was the most rapid in 2020 with an increase of 1,075% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, knitting machines exports soared to $X in 2021. In general, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by 93% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Morocco (X units), France (X units) and Armenia (X units) were the main destinations of knitting machines exports from Bulgaria, together comprising 91% of total exports.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +2,871.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for knitting machineses exports from Bulgaria, comprising 62% of total exports. The second position in the ranking was held by Egypt ($X), with an 18% share of total exports. It was followed by France, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value to Turkey amounted to +3.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+42.6% per year) and France (+71.9% per year).

Export Prices by Country

In 2021, the average knitting machines export price amounted to $X per unit, jumping by 51% against the previous year. Over the period under review, the export price, however, showed a significant curtailment. The growth pace was the most rapid in 2016 an increase of 98% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Turkey ($X per unit), while the average price for exports to Morocco ($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 Egypt (-3.1%), while the prices for the other major destinations experienced a decline.

Knitting Machines Imports

Imports into Bulgaria

In 2021, the amount of knitting machineses imported into Bulgaria surged to X units, with an increase of 50% compared with 2020. In general, imports recorded a resilient increase. The pace of growth was the most pronounced in 2020 when imports increased by 239% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, knitting machines imports surged to $X in 2021. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 98% against the previous year. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) constituted the largest knitting machines supplier to Bulgaria, accounting for a 59% share of total imports. Moreover, knitting machines imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. China (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+26.3% per year) and China (+33.7% per year).

In value terms, Italy ($X) constituted the largest supplier of knitting machineses to Bulgaria, comprising 62% of total imports. The second position in the ranking was taken by Germany ($X), with a 27% share of total imports. It was followed by China, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.0% per year) and China (+6.6% per year).

Import Prices by Country

In 2021, the average knitting machines import price amounted to $X per unit, which is down by -5.1% against the previous year. Overall, the import price faced a abrupt contraction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 47%. As a result, import price reached the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+36.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform