Bulgaria: Cotton Fabric Market 2024

Cotton Fabric Market Size in Bulgaria

For the third year in a row, the Bulgarian cotton fabric market recorded decline in sales value, which decreased by -0.6% to $X in 2021. Over the period under review, consumption, however, showed a noticeable curtailment. Cotton fabric consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Cotton Fabric Production in Bulgaria

In value terms, cotton fabric production fell rapidly to $X in 2021 estimated in export price. In general, production, however, showed a deep setback. The most prominent rate of growth was recorded in 2013 with an increase of 29% 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.

Cotton Fabric Exports

Exports from Bulgaria

In 2021, approx. X tons of woven fabrics of cotton were exported from Bulgaria; growing by 9.8% compared with 2020 figures. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 91%. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton fabric exports rose markedly to $X in 2021. In general, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -34.0% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 54% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Italy (X tons), Albania (X tons) and North Macedonia (X tons) were the main destinations of cotton fabric exports from Bulgaria, together accounting for 47% of total exports. These countries were followed by Romania, Serbia, France, Turkey, Greece, Germany and Spain, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Serbia (with a CAGR of +16.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, North Macedonia ($X), Italy ($X) and Albania ($X) constituted the largest markets for cotton fabric exported from Bulgaria worldwide, together accounting for 47% of total exports.

North Macedonia, with a CAGR of +15.9%, recorded the highest growth rate of the value of exports, in terms of 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 cotton fabric export price amounted to $X per ton, waning by -2.2% against the previous year. Over the period under review, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cotton fabric export price increased by +87.3% against 2015 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2020, and then shrank modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Greece ($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 Turkey (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Cotton Fabric Imports

Imports into Bulgaria

In 2021, overseas purchases of woven fabrics of cotton increased by 4.9% to X tons for the first time since 2016, thus ending a four-year declining trend. Overall, total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when imports increased by 47%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, cotton fabric imports declined modestly to $X in 2021. In general, imports, however, showed a pronounced decline. The growth pace was the most rapid in 2015 when imports increased by 16%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons), Pakistan (X tons) and Italy (X tons) were the main suppliers of cotton fabric imports to Bulgaria, with a combined 63% share of total imports. China, Germany, Spain, France, India and Hungary lagged somewhat behind, together comprising a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +16.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cotton fabric suppliers to Bulgaria were Italy ($X), Turkey ($X) and France ($X), with a combined 54% share of total imports. Germany, Pakistan, China, Spain, India and Hungary lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, Spain, with a CAGR of +7.0%, saw 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 cotton fabric import price stood at $X per ton in 2021, falling by -8% against the previous year. Over the period under review, the import price continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2017 when the average import price increased by 8.4% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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