Bulgaria: Market for Machines For Preparing, Weaving And Knitting Textiles 2024

Market Size for Machines For Preparing, Weaving And Knitting Textiles in Bulgaria

In 2021, the Bulgarian market for machines for preparing, weaving and knitting textiles increased by 49% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, showed a mild descent. Textile weaving and knitting machinery consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Machines For Preparing, Weaving And Knitting Textiles in Bulgaria

In value terms, textile weaving and knitting machinery production rose significantly to $X in 2021 estimated in export price. Overall, production, however, faced a abrupt descent. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Machines For Preparing, Weaving And Knitting Textiles

Exports from Bulgaria

In 2021, the amount of machines for preparing, weaving and knitting textiles exported from Bulgaria soared to X units, increasing by 15% against the previous year's figure. Overall, exports, however, showed a abrupt downturn. The growth pace was the most rapid in 2019 with an increase of 43% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, textile weaving and knitting machinery exports expanded sharply to $X in 2021. In general, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 87% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Turkey (X units) was the main destination for textile weaving and knitting machinery exports from Bulgaria, with a 55% share of total exports. Moreover, textile weaving and knitting machinery exports to Turkey exceeded the volume sent to the second major destination, Egypt (X units), fourfold. Iran (X units) ranked third in terms of total exports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (-3.2% per year) and Iran (+18.2% per year).

In value terms, Turkey ($X) emerged as the key foreign market for machines for preparing, weaving and knitting textiles exports from Bulgaria, comprising 51% of total exports. The second position in the ranking was held by Iran ($X), with a 13% share of total exports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey stood at -7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+87.5% per year) and China (+24.4% per year).

Export Prices by Country

The average export price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, flattening at the previous year. Overall, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, textile weaving and knitting machinery export price decreased by -21.5% against 2017 indices. The pace of growth appeared the most rapid in 2013 when the average export price increased by 101%. As a result, the export price reached the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per unit), while the average price for exports to Morocco ($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 Iran (+58.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machines For Preparing, Weaving And Knitting Textiles

Imports into Bulgaria

In 2021, purchases abroad of machines for preparing, weaving and knitting textiles increased by 33% to X units for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, recorded a drastic downturn. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, textile weaving and knitting machinery imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 71% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X units), Germany (X units) and China (X units) were the main suppliers of textile weaving and knitting machinery imports to Bulgaria, together accounting for 74% of total imports. Turkey, South Korea, Serbia, Spain and Israel lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +34.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of machines for preparing, weaving and knitting textiles to Bulgaria, comprising 46% of total imports. The second position in the ranking was held by Germany ($X), with a 22% share of total imports. It was followed by Spain, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +5.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.7% per year) and Spain (+40.9% per year).

Import Prices by Country

The average import price for machines for preparing, weaving and knitting textiles stood at $X per unit in 2021, waning by -9% against the previous year. Over the period under review, the import price, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by 183%. As a result, import price attained the peak level of $X per unit. From 2020 to 2021, the average import prices failed to regain momentum.

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 Spain ($X per unit), while the price for Serbia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+45.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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