Bulgaria: Knitted Fabric Market 2024

Knitted Fabric Market Size in Bulgaria

The Bulgarian knitted fabric market skyrocketed to $X in 2021, with an increase of X% against the previous year. In general, consumption showed a relatively flat trend pattern. Knitted fabric consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Knitted Fabric Production in Bulgaria

In value terms, knitted fabric production declined notably to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X, and then contracted remarkably in the following year.

Knitted Fabric Exports

Exports from Bulgaria

In 2023, shipments abroad of knitted or crocheted fabrics decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2022, and then shrank significantly in the following year.

In value terms, knitted fabric exports dropped sharply to $X in 2023. Over the period under review, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2022 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then fell notably in the following year.

Exports by Country

Turkey (X tons) was the main destination for knitted fabric exports from Bulgaria, with a X% share of total exports. Moreover, knitted fabric exports to Turkey exceeded the volume sent to the second major destination, Greece (X tons), threefold. Germany (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Turkey stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and Germany (X% per year).

In value terms, the largest markets for knitted fabric exported from Bulgaria were Turkey ($X), Greece ($X) and Italy ($X), together accounting for X% of total exports. Germany, Albania, North Macedonia, Romania and the Czech Republic lagged somewhat behind, together accounting for a further X%.

Albania, with a CAGR of X%, recorded the highest growth rate of 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 2023, the average knitted fabric export price amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, saw a perceptible decline. The export price peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Knitted Fabric Imports

Imports into Bulgaria

In 2023, supplies from abroad of knitted or crocheted fabrics decreased by X% to X tons for the first time since 2015, thus ending a seven-year rising trend. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2022, and then declined rapidly in the following year.

In value terms, knitted fabric imports contracted dramatically to $X in 2023. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2022, and then declined remarkably in the following year.

Imports by Country

In 2023, Turkey (X tons) constituted the largest knitted fabric supplier to Bulgaria, with a X% share of total imports. Moreover, knitted fabric imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was taken by Greece (X tons), with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Greece (X% per year).

In value terms, the largest knitted fabric suppliers to Bulgaria were Turkey ($X), Italy ($X) and Greece ($X), together comprising X% of total imports. Serbia, China, Germany and Poland lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Serbia, with a CAGR of X%, recorded 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 knitted fabric import price stood at $X per ton in 2023, increasing by X% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Serbia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform