Bulgaria: Tobacco Making Machinery Market 2024

Tobacco Making Machinery Market Size in Bulgaria

The Bulgarian tobacco making machinery market rose markedly to $X in 2022, with an increase of 7.3% against the previous year. Over the period under review, consumption, however, saw a drastic downturn. Over the period under review, the market attained the peak level at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Tobacco Making Machinery Production in Bulgaria

In value terms, tobacco making machinery production totaled $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 11% against the previous year. Tobacco making machinery production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tobacco Making Machinery Exports

Exports from Bulgaria

Tobacco making machinery exports from Bulgaria shrank rapidly to X units in 2022, dropping by -20.3% against the previous year. Over the period under review, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 196%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, tobacco making machinery exports declined rapidly to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 when exports increased by 290% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Ukraine (X units), Russia (X units) and Slovakia (X units) were the main destinations of tobacco making machinery exports from Bulgaria, together comprising 85% of total exports.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +141.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Russia ($X) and Slovakia ($X) constituted the largest markets for tobacco making machinery exported from Bulgaria worldwide, together accounting for 55% of total exports. Ukraine, Romania and the Czech Republic lagged somewhat behind, together accounting for a further 14%.

Ukraine, with a CAGR of +109.9%, 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 2022, the average tobacco making machinery export price amounted to $X per unit, shrinking by -16.7% against the previous year. In general, the export price continues to indicate a deep reduction. The growth pace was the most rapid in 2017 when the average export price increased by 162%. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Ukraine ($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 Lebanon (+16.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tobacco Making Machinery Imports

Imports into Bulgaria

In 2022, the amount of machinery for the preparation or making up of tobacco imported into Bulgaria dropped sharply to X units, which is down by -15.4% against 2021. In general, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of 96% against the previous year. As a result, imports reached the peak of X units. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tobacco making machinery imports contracted sharply to $X in 2022. Over the period under review, imports saw a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 325%. Imports peaked at $X in 2021, and then declined sharply in the following year.

Imports by Country

Poland (X units), Italy (X units) and Indonesia (X units) were the main suppliers of tobacco making machinery imports to Bulgaria, with a combined 51% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +102.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constituted the largest supplier of machinery for the preparation or making up of tobacco to Bulgaria, comprising 54% of total imports. The second position in the ranking was taken by Italy ($X), with an 11% share of total imports. It was followed by Indonesia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland totaled +76.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-8.7% per year) and Indonesia (+65.2% per year).

Import Prices by Country

The average tobacco making machinery import price stood at $X per unit in 2022, shrinking by -67.2% against the previous year. Over the period under review, the import price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 an increase of 330%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per unit), while the price for Serbia ($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 United Arab Emirates (-0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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