Bulgaria: Tobacco Market 2024

Tobacco Market Size in Bulgaria

In 2021, the Bulgarian tobacco market decreased by -1.2% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then contracted in the following year.

Tobacco Production in Bulgaria

In value terms, tobacco production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 27% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Tobacco Exports

Exports from Bulgaria

In 2021, the amount of tobacco (smoking tobacco, chewing tobacco, snuff) exported from Bulgaria declined rapidly to X tons, dropping by -69.3% compared with 2020. In general, exports, however, enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 1,186%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, tobacco exports fell remarkably to $X in 2021. Overall, exports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 932%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Greece (X tons), Ukraine (X tons) and Hungary (X tons) were the main destinations of tobacco exports from Bulgaria, with a combined 82% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +118.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X), Greece ($X) and Russia ($X) appeared to be the largest markets for tobacco exported from Bulgaria worldwide, together accounting for 80% of total exports. Hungary, Iraq and Latvia lagged somewhat behind, together accounting for a further 8.2%.

Hungary, with a CAGR of +117.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average tobacco export price amounted to $X per ton, growing by 63% against the previous year. Overall, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tobacco export price increased by +89.1% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Hungary ($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 (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tobacco Imports

Imports into Bulgaria

Tobacco imports into Bulgaria declined remarkably to X tons in 2021, with a decrease of -16.3% compared with 2020. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 97% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, tobacco imports surged to $X in 2021. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 340%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Greece (X tons) constituted the largest tobacco supplier to Bulgaria, accounting for a 60% share of total imports. Moreover, tobacco imports from Greece exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. Romania (X tons) ranked third in terms of total imports with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume from Greece totaled +51.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+53.3% per year) and Romania (+81.8% per year).

In value terms, Greece ($X) constituted the largest supplier of tobacco (smoking tobacco, chewing tobacco, snuff) to Bulgaria, comprising 78% of total imports. The second position in the ranking was held by Poland ($X), with an 8.8% share of total imports. It was followed by Romania, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from Greece totaled +70.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+51.4% per year) and Romania (+60.6% per year).

Import Prices by Country

In 2021, the average tobacco import price amounted to $X per ton, jumping by 40% against the previous year. Overall, the import price posted a significant increase. The most prominent rate of growth was recorded in 2018 an increase of 123%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+12.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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