Bulgaria: Market for Machine Tools For Working Metal Without Removing Metal 2024

Market Size for Machine Tools For Working Metal Without Removing Metal in Bulgaria

The Bulgarian machine tool for metal market skyrocketed to $X in 2021, picking up by 58% against the previous year. In general, consumption posted a resilient increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Machine Tools For Working Metal Without Removing Metal in Bulgaria

In value terms, machine tool for metal production expanded sharply to $X in 2021 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 15%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from Bulgaria

In 2021, shipments abroad of machine tools for working metal without removing metal increased by 50% to X units, rising for the fourth year in a row after four years of decline. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 641% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, machine tool for metal exports reached $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when exports increased by 1,307%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Albania (X units), Serbia (X units) and Turkey (X units) were the main destinations of machine tool for metal exports from Bulgaria, together accounting for 97% of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +26.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the key foreign market for machine tools for working metal without removing metal exports from Bulgaria, comprising 79% of total exports. The second position in the ranking was held by Serbia ($X), with an 11% share of total exports. It was followed by Albania, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Turkey stood at +18.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+34.4% per year) and Albania (0.0% per year).

Export Prices by Country

The average machine tool for metal export price stood at $X per unit in 2021, declining by -32.9% against the previous year. In general, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2017 when the average export price increased by 141% against the previous year. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Turkey ($X per unit), while the average price for exports to Albania ($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 Canada (+854.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into Bulgaria

In 2021, approx. X units of machine tools for working metal without removing metal were imported into Bulgaria; increasing by 136% against the year before. Over the period under review, imports showed a significant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 746%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, machine tool for metal imports skyrocketed to $X in 2021. In general, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2018 with an increase of 559% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The Netherlands (X units), China (X units) and Turkey (X units) were the main suppliers of machine tool for metal imports to Bulgaria, with a combined 71% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +76.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest machine tool for metal suppliers to Bulgaria were Turkey ($X), Germany ($X) and Italy ($X), with a combined 80% share of total imports.

Turkey, with a CAGR of +66.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average machine tool for metal import price amounted to $X per unit, declining by -40.3% against the previous year. Over the period under review, the import price recorded a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 13% against the previous year. The import price peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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