Bulgaria: Steel Railway Material Market 2025

Steel Railway Material Market Size in Bulgaria

In 2022, the Bulgarian steel railway material market decreased by -9% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption, however, posted buoyant growth. Steel railway material consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Steel Railway Material Exports

Exports from Bulgaria

For the third year in a row, Bulgaria recorded decline in shipments abroad of railway material of steel, which decreased by -50.8% to X tons in 2022. Over the period under review, exports showed a perceptible downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 147%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, steel railway material exports reduced remarkably to $X in 2022. Overall, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 168%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Austria (X tons) was the main destination for steel railway material exports from Bulgaria, accounting for a 53% share of total exports. Moreover, steel railway material exports to Austria exceeded the volume sent to the second major destination, Italy (X tons), fivefold. Spain (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria amounted to -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+9.0% per year) and Spain (+9.4% per year).

In value terms, Austria ($X) remains the key foreign market for railway material of steel exports from Bulgaria, comprising 58% of total exports. The second position in the ranking was taken by Spain ($X), with a 17% share of total exports. It was followed by Italy, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Austria totaled +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+14.9% per year) and Italy (+17.1% per year).

Export Prices by Country

In 2022, the average steel railway material export price amounted to $X per ton, rising by 70% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel railway material export price increased by +164.0% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+24.1%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Railway Material Imports

Imports into Bulgaria

Steel railway material imports into Bulgaria shrank slightly to X tons in 2022, waning by -4.1% compared with the previous year. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by 210%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, steel railway material imports contracted notably to $X in 2022. Over the period under review, imports, however, recorded a perceptible expansion. The most prominent rate of growth was recorded in 2017 with an increase of 152% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Poland (X tons), Italy (X tons) and Austria (X tons) were the main suppliers of steel railway material imports to Bulgaria, with a combined 95% share of total imports. Turkey, the Czech Republic and Ukraine lagged somewhat behind, together comprising a further 2.5%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +54.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest steel railway material suppliers to Bulgaria were Poland ($X), Italy ($X) and Austria ($X), together accounting for 85% of total imports. Turkey, the Czech Republic and Ukraine lagged somewhat behind, together comprising a further 4.7%.

Turkey, with a CAGR of +62.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average steel railway material import price amounted to $X per ton, with a decrease of -16.9% against the previous year. Over the period under review, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in 2015 an increase of 116%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained 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 Ukraine ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ukraine (+17.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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