Bulgaria: Market for Parts Of Harvester And Threshers 2024

Market Size for Parts Of Harvester And Threshers in Bulgaria

After six years of growth, the Bulgarian market for parts of harvester and threshers decreased by -25.5% to $X in 2021. Overall, the total consumption indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020, and then reduced remarkably in the following year.

Production of Parts Of Harvester And Threshers in Bulgaria

In value terms, parts of harvester and threshers production expanded remarkably to $X in 2021 estimated in export price. Over the period under review, production, however, showed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 40%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Exports of Parts Of Harvester And Threshers

Exports from Bulgaria

In 2021, shipments abroad of parts of harvester and threshers was finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports showed a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, parts of harvester and threshers exports soared to $X in 2021. In general, exports showed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X units) was the main destination for parts of harvester and threshers exports from Bulgaria, with a 66% share of total exports. Moreover, parts of harvester and threshers exports to Romania exceeded the volume sent to the second major destination, Italy (X units), fourfold. Germany (X units) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +25.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+8.1% per year) and Germany (+11.3% per year).

In value terms, Romania ($X) remains the key foreign market for parts of harvester and threshers exports from Bulgaria, comprising 78% of total exports. The second position in the ranking was held by Germany ($X), with a 6.9% share of total exports. It was followed by Italy, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value to Romania totaled +24.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+14.6% per year) and Italy (+5.2% per year).

Export Prices by Country

In 2021, the average export price for parts of harvester and threshers amounted to $X per unit, with an increase of 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2017 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Italy ($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 the Netherlands (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Parts Of Harvester And Threshers

Imports into Bulgaria

In 2021, imports of parts of harvester and threshers into Bulgaria contracted modestly to X units, which is down by -2.2% against the previous year's figure. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 49%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, parts of harvester and threshers imports rose rapidly to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.3% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 36%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Italy (X units), Germany (X units) and Hungary (X units) were the main suppliers of parts of harvester and threshers imports to Bulgaria, together comprising 67% of total imports. Greece, Argentina, France, Poland, Turkey, Romania and China lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +21.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest parts of harvester and threshers suppliers to Bulgaria were Germany ($X), Italy ($X) and Greece ($X), with a combined 66% share of total imports.

Among the main suppliers, Greece, with a CAGR of +23.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for parts of harvester and threshers stood at $X per unit in 2021, growing by 9.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.2%. The pace of growth was the most pronounced in 2013 an increase of 22%. The import price peaked in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+14.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform