Bulgaria: Harvesting Machinery Market 2024

Harvesting Machinery Market Size in Bulgaria

For the third year in a row, the Bulgarian harvesting machinery market recorded growth in sales value, which increased by 1.1% to $X in 2021. In general, consumption, however, showed a slight decrease. Harvesting machinery consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Harvesting Machinery Production in Bulgaria

In value terms, harvesting machinery production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production recorded a noticeable descent. The growth pace was the most rapid in 2019 with an increase of 17% against the previous year. Over the period under review, production attained the maximum level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Harvesting Machinery Exports

Exports from Bulgaria

Harvesting machinery exports from Bulgaria soared to X units in 2021, jumping by 250% compared with 2020 figures. In general, exports, however, recorded a deep slump. Over the period under review, the exports attained the peak figure at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, harvesting machinery exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a abrupt descent. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X units) was the main destination for harvesting machinery exports from Bulgaria, with a 86% share of total exports. Moreover, harvesting machinery exports to Romania exceeded the volume sent to the second major destination, Ukraine (X units), sixfold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Romania amounted to -12.3%.

In value terms, Romania ($X) remains the key foreign market for root or tuber harvesting machines exports from Bulgaria, comprising 94% of total exports. The second position in the ranking was held by Ukraine ($X), with a 5.5% share of total exports.

From 2013 to 2021, the average annual growth rate of value to Romania amounted to +39.0%.

Export Prices by Country

The average harvesting machinery export price stood at $X per unit in 2021, increasing by 4.2% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 218%. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, the export prices stood 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 Romania ($X per unit), while the average price for exports to Ukraine totaled $X per unit.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+3.9%).

Harvesting Machinery Imports

Imports into Bulgaria

In 2021, approx. X units of root or tuber harvesting machines were imported into Bulgaria; increasing by 76% against 2020 figures. Overall, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 283%. Imports peaked at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, harvesting machinery imports surged to $X in 2021. In general, imports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 153% against the previous year. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), Hungary (X units) and the United States (X units) were the main suppliers of harvesting machinery imports to Bulgaria, with a combined 57% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +26.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest harvesting machinery suppliers to Bulgaria were Germany ($X), the United States ($X) and Hungary ($X), with a combined 71% share of total imports. These countries were followed by Italy, Turkey, Poland and Austria, which together accounted for a further 26%.

Among the main suppliers, Turkey, with a CAGR of +94.2%, saw 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

In 2021, the average harvesting machinery import price amounted to $X per unit, rising by 27% against the previous year. Overall, import price indicated a buoyant increase from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, harvesting machinery import price decreased by -23.4% against 2013 indices. The pace of growth appeared the most rapid in 2013 an increase of 115% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2021, the average import prices remained at a lower figure.

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 the United States ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+24.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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