Bulgaria: Luggage Market 2024

Luggage Market Size in Bulgaria

In 2021, the Bulgarian luggage market decreased by -37% to $X, falling for the second year in a row after four years of growth. Overall, consumption recorded a relatively flat trend pattern. Luggage consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Luggage Production in Bulgaria

In value terms, luggage production skyrocketed to $X in 2021 estimated in export price. In general, production enjoyed resilient growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Luggage Exports

Exports from Bulgaria

For the third year in a row, Bulgaria recorded decline in shipments abroad of luggage and handbags, which decreased by -9.9% to X tons in 2021. Overall, exports recorded a perceptible downturn. The pace of growth appeared the most rapid in 2018 with an increase of 18% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, luggage exports dropped to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 14%. The exports peaked at $X in 2020, and then contracted in the following year.

Exports by Country

Italy (X tons) was the main destination for luggage exports from Bulgaria, with a 53% share of total exports. Moreover, luggage exports to Italy exceeded the volume sent to the second major destination, Romania (X tons), fivefold. The third position in this ranking was taken by the Netherlands (X tons), with a 9.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy amounted to -7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+21.6% per year) and the Netherlands (+196.4% per year).

In value terms, Italy ($X) remains the key foreign market for luggage and handbags exports from Bulgaria, comprising 63% of total exports. The second position in the ranking was held by France ($X), with a 4.6% share of total exports. It was followed by Switzerland, with a 4.4% share.

From 2012 to 2021, the average annual growth rate of value to Italy amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+6.1% per year) and Switzerland (+73.9% per year).

Export Prices by Country

The average luggage export price stood at $X per ton in 2021, waning by -2.5% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, luggage export price increased by +91.1% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 42%. As a result, the export price reached the peak level of $X per ton, and then contracted slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the Netherlands ($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 Greece (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Luggage Imports

Imports into Bulgaria

In 2021, purchases abroad of luggage and handbags decreased by -39.6% to X tons, falling for the third year in a row after three years of growth. Overall, imports continue to indicate a noticeable descent. The pace of growth was the most pronounced in 2013 with an increase of 23% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, luggage imports shrank to $X in 2021. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 22% against the previous year. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

China (X tons), Turkey (X tons) and Greece (X tons) were the main suppliers of luggage imports to Bulgaria, with a combined 62% share of total imports. These countries were followed by Poland, Germany, Spain, Belgium, Italy, Hong Kong SAR, Romania and the Czech Republic, which together accounted for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +20.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), China ($X) and Italy ($X) constituted the largest luggage suppliers to Bulgaria, together comprising 45% of total imports.

Among the main suppliers, Poland, with a CAGR of +35.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average luggage import price stood at $X per ton in 2021, picking up by 54% against the previous year. Overall, the import price posted a buoyant expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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