Bulgaria: Threshing Machinery Market 2024

Threshing Machinery Market Size in Bulgaria

The Bulgarian threshing machinery market expanded markedly to $X in 2022, with an increase of 12% against the previous year. Overall, consumption, however, saw a slight curtailment. Threshing machinery consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Threshing Machinery Production in Bulgaria

In value terms, threshing machinery production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by 33% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Threshing Machinery Exports

Exports from Bulgaria

Threshing machinery exports from Bulgaria skyrocketed to X units in 2022, picking up by 41% on the previous year's figure. Over the period under review, exports recorded strong growth. The most prominent rate of growth was recorded in 2020 when exports increased by 123%. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, threshing machinery exports surged to $X in 2022. In general, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2014 when exports increased by 94% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Greece (X units) was the main destination for threshing machinery exports from Bulgaria, with a 55% share of total exports. Moreover, threshing machinery exports to Greece exceeded the volume sent to the second major destination, Romania (X units), threefold. The third position in this ranking was taken by Georgia (X units), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Greece totaled +25.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+3.7% per year) and Georgia (-4.0% per year).

In value terms, Greece ($X) emerged as the key foreign market for threshing machinery except combine harvester-threshers exports from Bulgaria, comprising 47% of total exports. The second position in the ranking was held by Romania ($X), with a 21% share of total exports. It was followed by Russia, with a 19% share.

From 2012 to 2022, the average annual growth rate of value to Greece totaled +30.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-0.8% per year) and Russia (+15.3% per year).

Export Prices by Country

In 2022, the average threshing machinery export price amounted to $X per unit, which is down by -10.1% against the previous year. Overall, the export price saw a slight curtailment. The pace of growth was the most pronounced in 2021 when the average export price increased by 118%. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per unit), while the average price for exports to Georgia ($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 Russia (+56.0%), while the prices for the other major destinations experienced more modest paces of growth.

Threshing Machinery Imports

Imports into Bulgaria

In 2022, purchases abroad of threshing machinery except combine harvester-threshers increased by 51% to X units, rising for the fifth year in a row after three years of decline. Over the period under review, imports saw a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 89% against the previous year. Imports peaked in 2022 and are likely to continue growth in the near future.

In value terms, threshing machinery imports soared to $X in 2022. Overall, imports recorded perceptible growth. The growth pace was the most rapid in 2021 when imports increased by 105%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Italy (X units) constituted the largest threshing machinery supplier to Bulgaria, accounting for a 34% share of total imports. Moreover, threshing machinery imports from Italy exceeded the figures recorded by the second-largest supplier, Poland (X units), twofold. Turkey (X units) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Italy stood at +1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+14.6% per year) and Turkey (+40.9% per year).

In value terms, Italy ($X) constituted the largest supplier of threshing machinery except combine harvester-threshers to Bulgaria, comprising 39% of total imports. The second position in the ranking was taken by Canada ($X), with a 12% share of total imports. It was followed by Poland, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+27.2% per year) and Poland (+5.9% per year).

Import Prices by Country

In 2022, the average threshing machinery import price amounted to $X per unit, increasing by 17% against the previous year. In general, the import price, however, recorded a pronounced setback. The pace of growth was the most pronounced in 2015 an increase of 31% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Canada ($X per unit), while the price for France ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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