Bulgaria: Woolen Yarn Market 2024

Woolen Yarn Market Size in Bulgaria

The Bulgarian woolen yarn market shrank notably to $X in 2021, declining by -52% against the previous year. Over the period under review, consumption faced a abrupt setback. Woolen yarn consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Woolen Yarn Production in Bulgaria

In value terms, woolen yarn production fell rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 8,645% against the previous year. As a result, production reached the peak level of $X, and then shrank sharply in the following year.

Woolen Yarn Exports

Exports from Bulgaria

After five years of decline, shipments abroad of yarn of wool increased by 16% to X tons in 2021. Overall, exports, however, showed a relatively flat trend pattern. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, woolen yarn exports rose slightly to $X in 2021. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 9% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Italy (X tons) and Romania (X tons) were the main destinations of woolen yarn exports from Bulgaria, with a combined 84% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +42.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for woolen yarn exported from Bulgaria were Italy ($X), Germany ($X) and Romania ($X), with a combined 84% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +37.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average woolen yarn export price stood at $X per ton in 2021, with a decrease of -9.5% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 9.1% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Austria ($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 the UK (+10.6%), while the prices for the other major destinations experienced more modest paces of growth.

Woolen Yarn Imports

Imports into Bulgaria

In 2021, after five years of decline, there was significant growth in purchases abroad of yarn of wool, when their volume increased by 29% to X tons. Overall, imports, however, saw a slight reduction. The pace of growth appeared the most rapid in 2015 when imports increased by 70%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, woolen yarn imports surged to $X in 2021. In general, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -3.7% against 2017 indices. The pace of growth was the most pronounced in 2015 when imports increased by 34%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of woolen yarn to Bulgaria, accounting for a 85% share of total imports. Moreover, woolen yarn imports from Italy exceeded the figures recorded by the second-largest supplier, Turkey (X tons), tenfold. The third position in this ranking was held by the UK (X tons), with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.1% per year) and the UK (-7.9% per year).

In value terms, Italy ($X) constituted the largest supplier of yarn of wool to Bulgaria, comprising 89% of total imports. The second position in the ranking was taken by Turkey ($X), with a 4.1% share of total imports. It was followed by the UK, with a 3.2% share.

From 2012 to 2021, the average annual growth rate of value from Italy stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+10.4% per year) and the UK (-2.7% per year).

Import Prices by Country

In 2021, the average woolen yarn import price amounted to $X per ton, declining by -1.8% against the previous year. Over the period under review, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, woolen yarn import price increased by +76.5% against 2015 indices. The pace of growth appeared the most rapid in 2018 when the average import price increased by 34% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2020, and then dropped modestly in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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