Bulgaria: Machinery For Packing Market 2024

Machinery For Packing Market Size in Bulgaria

In 2022, the Bulgarian machinery for packing market decreased by -42.4% to $X, falling for the second year in a row after two years of growth. In general, consumption showed a noticeable decrease. Machinery for packing consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Machinery For Packing Production in Bulgaria

In value terms, machinery for packing production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.0% 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 2013 when the production volume increased by 46%. Machinery for packing production peaked at $X in 2021, and then shrank modestly in the following year.

Machinery For Packing Exports

Exports from Bulgaria

In 2022, the amount of machinery for packing or wrapping exported from Bulgaria reduced modestly to X units, with a decrease of -4.5% against 2021. In general, exports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of 88% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, machinery for packing exports amounted to $X in 2022. Overall, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +6.0% against 2018 indices. The most prominent rate of growth was recorded in 2013 when exports increased by 40% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Belgium (X units), Iran (X units) and Romania (X units) were the main destinations of machinery for packing exports from Bulgaria, with a combined 49% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +84.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for machinery for packing or wrapping exports from Bulgaria, comprising 23% of total exports. The second position in the ranking was taken by the United States ($X), with an 8.3% share of total exports. It was followed by Iran, with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belgium stood at +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.2% per year) and Iran (+79.7% per year).

Export Prices by Country

The average machinery for packing export price stood at $X per unit in 2022, with an increase of 10% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 24% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 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 Iraq ($X per unit), while the average price for exports to Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+15.7%), while the prices for the other major destinations experienced more modest paces of growth.

Machinery For Packing Imports

Imports into Bulgaria

In 2022, overseas purchases of machinery for packing or wrapping decreased by -25.9% to X units, falling for the second consecutive year after three years of growth. Overall, total imports indicated a pronounced increase from 2012 to 2022: its volume increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -31.2% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of 64% against the previous year. Imports peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, machinery for packing imports amounted to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by 40%. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Italy (X units) constituted the largest machinery for packing supplier to Bulgaria, with a 32% share of total imports. Moreover, machinery for packing imports from Italy exceeded the figures recorded by the second-largest supplier, Turkey (X units), threefold. The third position in this ranking was taken by China (X units), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.9% per year) and China (+12.7% per year).

In value terms, Italy ($X) constituted the largest supplier of machinery for packing or wrapping to Bulgaria, comprising 43% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by Turkey, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.7% per year) and Turkey (+9.5% per year).

Import Prices by Country

In 2022, the average machinery for packing import price amounted to $X per unit, rising by 37% against the previous year. Over the period under review, the import price, however, recorded a pronounced descent. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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