Bulgaria: Market for Silver Goldsmiths Non-Jewelry Articles 2024

Market Size for Silver Goldsmiths Non-Jewelry Articles in Bulgaria

The Bulgarian silver goldsmiths non-jewelry article market stood at $X in 2022, stabilizing at the previous year. In general, consumption showed a perceptible contraction. Silver goldsmiths non-jewelry article consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Silver Goldsmiths Non-Jewelry Articles in Bulgaria

In value terms, silver goldsmiths non-jewelry article production rose notably to $X in 2022 estimated in export price. In general, production recorded a deep contraction. Silver goldsmiths non-jewelry article production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Silver Goldsmiths Non-Jewelry Articles

Exports from Bulgaria

In 2022, exports of silver goldsmiths non-jewelry articles from Bulgaria fell significantly to less than X kg, dropping by X% against the previous year's figure. Over the period under review, exports continue to indicate a dramatic decrease. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, silver goldsmiths non-jewelry article exports surged to $X in 2022. Overall, exports showed a sharp shrinkage. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X kg) was the main destination for silver goldsmiths non-jewelry article exports from Bulgaria, accounting for a X% share of total exports. Moreover, silver goldsmiths non-jewelry article exports to Turkey exceeded the volume sent to the second major destination, Azerbaijan (X kg), fourfold.

From 2012 to 2021, the average annual growth rate of volume to Turkey amounted to X%.

In value terms, the largest markets for silver goldsmiths non-jewelry article exported from Bulgaria were Azerbaijan ($X) and Turkey ($X).

Azerbaijan, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average silver goldsmiths non-jewelry article export price stood at $X per kg in 2021, with an increase of X% against the previous year. Overall, the export price posted a remarkable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Azerbaijan ($X per kg), while the average price for exports to Turkey amounted to $X per kg.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (X%).

Imports of Silver Goldsmiths Non-Jewelry Articles

Imports into Bulgaria

In 2022, purchases abroad of silver goldsmiths non-jewelry articles increased by X% to X kg, rising for the third consecutive year after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at X kg in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, silver goldsmiths non-jewelry article imports contracted notably to $X in 2022. Over the period under review, imports recorded noticeable growth. The pace of growth appeared the most rapid in 2020 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Turkey (X kg), Italy (X kg) and the United States (X kg) were the main suppliers of silver goldsmiths non-jewelry article imports to Bulgaria, with a combined X% share of total imports. Germany, Austria, Russia, India, Israel, Japan and the UK lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest silver goldsmiths non-jewelry article suppliers to Bulgaria were Turkey ($X), Italy ($X) and the United States ($X), together comprising X% of total imports. Germany, Austria, the UK, Israel, Russia, India and Japan lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Austria, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average silver goldsmiths non-jewelry article import price amounted to $X per kg, dropping by X% against the previous year. Over the period under review, the import price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, import price attained the peak level of $X per kg. From 2019 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per kg), while the price for Japan ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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