Bulgaria: Knotted Carpet Market 2024

Knotted Carpet Market Size in Bulgaria

The Bulgarian knotted carpet market rose significantly to $X in 2022, surging by 5.8% against the previous year. The market value increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Knotted Carpet Production in Bulgaria

In value terms, knotted carpet production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 43% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Knotted Carpet Exports

Exports from Bulgaria

In 2022, approx. X square meters of knotted carpets and other knotted textile floor coverings were exported from Bulgaria; which is down by -2.1% compared with 2021. Over the period under review, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 2,842% against the previous year. The exports peaked at X square meters in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, knotted carpet exports soared to $X in 2022. Overall, exports, however, saw a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by 20,612% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Uganda (X square meters) was the main destination for knotted carpet exports from Bulgaria, accounting for a 93% share of total exports. It was followed by India (X square meters), with a 2.5% share of total exports. Switzerland (X square meters) ranked third in terms of total exports with a 2% share.

From 2012 to 2022, the average annual growth rate of volume to Uganda was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-19.9% per year) and Switzerland (0.0% per year).

It was followed by Iran, with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Uganda was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+16.3% per year) and Iran (-68.2% per year).

Export Prices by Country

The average knotted carpet export price stood at $X per square meter in 2022, with an increase of 172% against the previous year. Over the period under review, the export price enjoyed significant growth. The most prominent rate of growth was recorded in 2014 when the average export price increased by 646%. As a result, the export price reached the peak level of $X per square meter. From 2015 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per square meter), while the average price for exports to Uganda ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+97.8%), while the prices for the other major destinations experienced more modest paces of growth.

Knotted Carpet Imports

Imports into Bulgaria

In 2022, imports of knotted carpets and other knotted textile floor coverings into Bulgaria reduced rapidly to X square meters, declining by -31.1% against the previous year's figure. In general, imports, however, posted a strong expansion. The growth pace was the most rapid in 2018 when imports increased by 599% against the previous year. As a result, imports attained the peak of X square meters. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, knotted carpet imports fell sharply to $X in 2022. Overall, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 1,374%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X square meters), Turkey (X square meters) and China (X square meters) were the main suppliers of knotted carpet imports to Bulgaria, with a combined 73% share of total imports. Switzerland, India, Iran, Romania and Greece lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Switzerland (with a CAGR of +66.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of knotted carpets and other knotted textile floor coverings to Bulgaria, comprising 44% of total imports. The second position in the ranking was held by India ($X), with a 17% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +38.3%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.1% per year) and China (+50.2% per year).

Import Prices by Country

In 2022, the average knotted carpet import price amounted to $X per square meter, with an increase of 2% against the previous year. Over the period under review, the import price saw pronounced growth. The most prominent rate of growth was recorded in 2016 an increase of 144%. Over the period under review, average import prices hit record highs at $X per square meter in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Iran ($X per square meter), while the price for Turkey ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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