Bulgaria: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Bulgaria

The Bulgarian machine-tool for working wood market amounted to $X in 2021, approximately equating the previous year. Overall, consumption, however, enjoyed pronounced growth. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Machine-Tools For Working Wood in Bulgaria

In value terms, machine-tool for working wood production shrank slightly to $X in 2021 estimated in export price. Overall, production, however, recorded a drastic downturn. The pace of growth was the most pronounced in 2019 with an increase of 24%. Machine-tool for working wood production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Machine-Tools For Working Wood

Exports from Bulgaria

After two years of decline, shipments abroad of machine-tools for working wood increased by 24% to X tons in 2021. The total export volume increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, machine-tool for working wood exports soared to $X in 2021. In general, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.2% 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 +100.7% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 27%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), Austria (X tons) and Romania (X tons) were the main destinations of machine-tool for working wood exports from Bulgaria, with a combined 44% share of total exports. These countries were followed by Russia, Poland, Ukraine, Spain, Iran, Italy and France, which together accounted for a further 42%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iran (with a CAGR of +111.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Romania ($X) and Russia ($X) appeared to be the largest markets for machine-tool for working wood exported from Bulgaria worldwide, with a combined 48% share of total exports. These countries were followed by Austria, Iran, Poland, Ukraine, Spain, Italy and France, which together accounted for a further 36%.

Iran, with a CAGR of +85.4%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the average machine-tool for working wood export price amounted to $X per ton, remaining stable against the previous year. In general, export price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine-tool for working wood export price increased by +6.5% against 2015 indices. The pace of growth appeared the most rapid in 2015 an increase of 57% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2020, 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 Iran ($X per ton), while the average price for exports to Spain ($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 Germany (+5.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Bulgaria

In 2021, supplies from abroad of machine-tools for working wood increased by 1.1% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports enjoyed a notable increase. The pace of growth was the most pronounced in 2016 when imports increased by 128% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, machine-tool for working wood imports surged to $X in 2021. Over the period under review, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 124% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Turkey (X tons), China (X tons) and Germany (X tons) were the main suppliers of machine-tool for working wood imports to Bulgaria, with a combined 56% share of total imports. Italy, Poland, Spain, Serbia, Romania, Austria and Greece lagged somewhat behind, together comprising a further 35%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +24.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and Turkey ($X) were the largest machine-tool for working wood suppliers to Bulgaria, with a combined 55% share of total imports. These countries were followed by Poland, China, Romania, Spain, Austria, Serbia and Greece, which together accounted for a further 38%.

Poland, with a CAGR of +30.9%, saw the highest growth rate of 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 machine-tool for working wood import price stood at $X per ton in 2021, jumping by 25% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, machine-tool for working wood import price increased by +84.6% against 2017 indices. The growth pace was the most rapid in 2018 when the average import price increased by 44%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Serbia ($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 (+15.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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