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Bulgaria - Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingBulgaria: Watch Market 2024
Watch Market Size in Bulgaria
The Bulgarian watch market expanded markedly to $X in 2023, surging by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2020 indices. Watch consumption peaked at $X in 2019; however, from 2020 to 2023, consumption failed to regain momentum.
Watch Exports
Exports from Bulgaria
In 2023, overseas shipments of watches increased by X% to X units for the first time since 2019, thus ending a three-year declining trend. Overall, exports, however, showed a slight setback. The growth pace was the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X units. From 2018 to 2023, the growth of the exports failed to regain momentum.
In value terms, watch exports totaled $X in 2023. In general, total exports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2017 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports remained at a lower figure.
Exports by Country
Romania (X units) was the main destination for watch exports from Bulgaria, with a X% share of total exports. Moreover, watch exports to Romania exceeded the volume sent to the second major destination, France (X units), threefold. The third position in this ranking was held by Greece (X units), with a X% share.
From 2012 to 2023, the average annual growth rate of volume to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Greece (X% per year).
In value terms, the largest markets for watch exported from Bulgaria were Austria ($X), Italy ($X) and Cyprus ($X), together accounting for X% of total exports.
Cyprus, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the average watch export price amounted to $X per unit, dropping by X% against the previous year. Overall, the export price, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per unit. From 2022 to 2023, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Austria ($X per unit), while the average price for exports to Belgium ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.
Watch Imports
Imports into Bulgaria
For the third consecutive year, Bulgaria recorded growth in overseas purchases of watches, which increased by X% to X units in 2023. Overall, imports, however, saw a pronounced setback. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked at X units in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.
In value terms, watch imports soared to $X in 2023. In general, imports showed a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.
Imports by Country
Hong Kong SAR (X units), Germany (X units) and France (X units) were the main suppliers of watch imports to Bulgaria, together accounting for X% of total imports.
From 2012 to 2023, the biggest increases were recorded for France (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the largest watch suppliers to Bulgaria were France ($X), Switzerland ($X) and Germany ($X), with a combined X% share of total imports. Italy, Hong Kong SAR, Poland, Romania, Spain, China, Japan and Greece lagged somewhat behind, together accounting for a further X%.
Poland, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2023, the average watch import price amounted to $X per unit, growing by X% against the previous year. Overall, the import price posted a buoyant increase. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2021; however, from 2022 to 2023, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($X per unit), while the price for China ($X per unit) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the watch market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
- Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
- Bulgaria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Bulgaria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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