Bulgaria: Semi-Manufactured Silver Market 2024

Semi-Manufactured Silver Market Size in Bulgaria

The Bulgarian semi-manufactured silver market soared to $X in 2021, picking up by 17% against the previous year. Overall, consumption recorded a remarkable increase. Semi-manufactured silver consumption peaked in 2021 and is expected to retain growth in the near future.

Semi-Manufactured Silver Production in Bulgaria

In value terms, semi-manufactured silver production surged to $X in 2021 estimated in export price. In general, production, however, saw a significant increase. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Semi-Manufactured Silver Exports

Exports from Bulgaria

In 2021, after four years of decline, there was significant growth in overseas shipments of silver in semi-manufactured forms, when their volume increased by 91% to X tons. In general, exports saw a significant expansion. The pace of growth was the most pronounced in 2014 with an increase of 2,559% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, semi-manufactured silver exports soared to $X in 2021. Over the period under review, exports recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 2,728% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons), Germany (X tons) and the Czech Republic (X tons) were the main destinations of semi-manufactured silver exports from Bulgaria, together accounting for 80% of total exports. These countries were followed by Estonia, Poland, Turkey and Greece, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for Estonia (with a CAGR of +12,571.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Germany ($X) and the Czech Republic ($X) were the largest markets for semi-manufactured silver exported from Bulgaria worldwide, together accounting for 80% of total exports. Estonia, Poland, Turkey and Greece lagged somewhat behind, together comprising a further 16%.

In terms of the main countries of destination, Estonia, with a CAGR of +11,739.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average semi-manufactured silver export price stood at $X per ton in 2021, rising by 15% against the previous year. Overall, the export price, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 an increase of 31%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 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 Poland ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+50.3%), while the prices for the other major destinations experienced more modest paces of growth.

Semi-Manufactured Silver Imports

Imports into Bulgaria

In 2021, approx. X tons of silver in semi-manufactured forms were imported into Bulgaria; increasing by 476% compared with the year before. In general, imports recorded a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, semi-manufactured silver imports soared to $X in 2021. Over the period under review, imports showed significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), the UK (X tons) and Germany (X tons) were the main suppliers of semi-manufactured silver imports to Bulgaria, with a combined 95% 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 the UK (with a CAGR of +162.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of silver in semi-manufactured forms to Bulgaria, comprising 52% of total imports. The second position in the ranking was held by Germany ($X), with a 20% share of total imports. It was followed by the UK, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy amounted to +76.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+17.2% per year) and the UK (+146.9% per year).

Import Prices by Country

The average semi-manufactured silver import price stood at $X per ton in 2021, falling by -19.7% against the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 24%. As a result, import price reached the peak level of $X per ton. 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 Italy ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (-0.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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