Bulgaria: T-Shirt Market 2024

T-Shirt Market Size in Bulgaria

For the third year in a row, the Bulgarian t-shirt market recorded decline in sales value, which decreased by -59.8% to $X in 2022. Over the period under review, consumption faced a sharp descent. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

T-Shirt Production in Bulgaria

In value terms, t-shirt production soared to $X in 2022 estimated in export price. In general, production, however, showed a perceptible contraction. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

T-Shirt Exports

Exports from Bulgaria

In 2022, overseas shipments of t-shirts increased by 20% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports showed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of 164%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, t-shirt exports surged to $X in 2022. The total export value increased at an average annual rate of +1.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 26% against the previous year. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X units), Greece (X units) and Germany (X units) were the main destinations of t-shirt exports from Bulgaria, with a combined 73% share of total exports. France, Austria, Belgium, Denmark, Slovakia, the Netherlands and the United States lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of +26.1%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) remains the key foreign market for t-shirts exports from Bulgaria, comprising 44% of total exports. The second position in the ranking was held by Germany ($X), with a 14% share of total exports. It was followed by Greece, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-4.9% per year) and Greece (+0.7% per year).

Export Prices by Country

The average t-shirt export price stood at $X per unit in 2022, remaining constant against the previous year. In general, the export price saw a abrupt decrease. The pace of growth was the most pronounced in 2017 when the average export price increased by 25% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 Germany ($X per unit), while the average price for exports to Greece ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (-3.6%), while the prices for the other major destinations experienced a decline.

T-Shirt Imports

Imports into Bulgaria

In 2022, purchases abroad of t-shirts was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. Overall, imports, however, continue to indicate a pronounced contraction. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, t-shirt imports soared to $X in 2022. In general, imports, however, recorded a perceptible setback. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X units), Poland (X units) and Hungary (X units) were the main suppliers of t-shirt imports to Bulgaria, together comprising 56% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +38.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Poland ($X) and Germany ($X) constituted the largest t-shirt suppliers to Bulgaria, with a combined 49% share of total imports.

Among the main suppliers, Poland, with a CAGR of +34.0%, 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 t-shirt import price stood at $X per unit in 2022, waning by -5.2% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 32% against the previous year. As a result, import price reached the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :