Bulgaria: Umbrella Market 2024

Umbrella Market Size in Bulgaria

In 2022, the Bulgarian umbrella market increased by 16% to $X, rising for the fifth consecutive year after four years of decline. Overall, consumption saw resilient growth. Umbrella consumption peaked in 2022 and is expected to retain growth in the immediate term.

Umbrella Production in Bulgaria

In value terms, umbrella production plummeted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 54% against the previous year. As a result, production reached the peak level of $X, and then declined rapidly in the following year.

Umbrella Exports

Exports from Bulgaria

In 2022, shipments abroad of umbrellas increased by 12% to X units, rising for the second year in a row after four years of decline. In general, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2016 when exports increased by 80% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, umbrella exports skyrocketed to $X in 2022. Overall, exports enjoyed a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of 68% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X units), Romania (X units) and Italy (X units) were the main destinations of umbrella exports from Bulgaria, with a combined 53% share of total exports. Israel, Serbia, Bosnia and Herzegovina, Germany, France and the Czech Republic lagged somewhat behind, together comprising 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 ($X) remains the key foreign market for umbrellas exports from Bulgaria, comprising 53% of total exports. The second position in the ranking was taken by Romania ($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 totaled +42.0%. 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 export price stood at $X per unit in 2022, picking up by 15% against the previous year. Overall, the export price posted strong growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 74% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

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 Imports

Imports into Bulgaria

In 2022, purchases abroad of umbrellas was finally on the rise to reach X units after three years of decline. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% 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 -11.4% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 40% against the previous year. Over the period under review, imports attained the peak figure at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, umbrella imports surged to $X in 2022. In general, imports posted a prominent increase. The growth pace was the most rapid in 2018 with an increase of 42% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest umbrella supplier to Bulgaria, accounting for a 52% share of total imports. Moreover, umbrella imports from China exceeded the figures recorded by the second-largest supplier, Greece (X units), fivefold. The third position in this ranking was held by Germany (X units), with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+38.2% per year) and Germany (+14.8% per year).

In value terms, China ($X) constituted the largest supplier of umbrellas to Bulgaria, comprising 42% of total imports. The second position in the ranking was taken by Poland ($X), with a 12% share of total imports. It was followed by Germany, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China amounted to +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+5.5% per year) and Germany (+18.4% per year).

Import Prices by Country

The average umbrella import price stood at $X per unit in 2022, with an increase of 2% against the previous year. Overall, the import price continues to indicate pronounced growth. The growth pace was the most rapid in 2021 when the average import price increased by 44%. The import price peaked in 2022 and is likely to see steady growth in years to come.

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 (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform