Bulgaria: Umbrella And Walking-Stick Market 2024

Umbrella And Walking-Stick Market Size in Bulgaria

In 2022, the Bulgarian umbrella and walking-stick market increased by 19% to $X, rising for the fifth year in a row after three years of decline. In general, consumption saw resilient growth. Over the period under review, the market attained the maximum level in 2022 and is likely to see gradual growth in the immediate term.

Umbrella And Walking-Stick Production in Bulgaria

In value terms, umbrella and walking-stick production declined significantly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. As a result, production reached the peak level of $X, and then shrank notably in the following year.

Umbrella And Walking-Stick Exports

Exports from Bulgaria

In 2022, umbrella and walking-stick exports from Bulgaria rose slightly to X units, surging by 3.2% on the year before. Over the period under review, exports, however, showed a abrupt descent. The growth pace was the most rapid in 2016 when exports increased by 77% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, umbrella and walking-stick exports soared to $X in 2022. Overall, total exports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +155.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 55%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X units), Romania (X units) and Italy (X units) were the main destinations of umbrella and walking-stick exports from Bulgaria, with a combined 53% share of total exports. Israel, Serbia, Bosnia and Herzegovina, Georgia, Germany, France and the Czech Republic lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +63.5%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X) remains the key foreign market for umbrellas and walking-sticks exports from Bulgaria, comprising 53% of total exports. The second position in the ranking was taken by Romania ($X), with a 12% share of total exports. It was followed by Italy, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece amounted to +42.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+12.7% per year) and Italy (-1.8% per year).

Export Prices by Country

The average umbrella and walking-stick export price stood at $X per unit in 2022, rising by 22% against the previous year. Overall, the export price saw resilient growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 73%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Greece ($X per unit), while the average price for exports to Israel ($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 Bosnia and Herzegovina (+33.9%), while the prices for the other major destinations experienced more modest paces of growth.

Umbrella And Walking-Stick Imports

Imports into Bulgaria

In 2022, supplies from abroad of umbrellas and walking-sticks was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.4% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 39% against the previous year. Over the period under review, imports reached the maximum at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, umbrella and walking-stick imports skyrocketed to $X in 2022. In general, imports enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 39%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X units) constituted the largest supplier of umbrella and walking-stick to Bulgaria, accounting for a 51% share of total imports. Moreover, umbrella and walking-stick imports from China exceeded the figures recorded by the second-largest supplier, Greece (X units), fivefold. Germany (X units) ranked third in terms of total imports with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+31.5% per year) and Germany (+16.3% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas and walking-sticks to Bulgaria, comprising 41% of total imports. The second position in the ranking was taken by Poland ($X), with an 11% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+5.5% per year) and Germany (+20.1% per year).

Import Prices by Country

The average umbrella and walking-stick import price stood at $X per unit in 2022, with an increase of 4% against the previous year. Over the period under review, the import price recorded a pronounced increase. The pace of growth appeared the most rapid in 2021 an increase of 42% against the previous year. Over the period under review, average import prices hit record highs in 2022 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 Poland ($X per unit), while the price for Greece ($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 (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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