Bulgaria: Base Metal Hook Market 2023

Base Metal Hook Market Size in Bulgaria

The Bulgarian base metal hook market skyrocketed to $X in 2022, rising by 67% 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, consumption posted a resilient increase. Base metal hook consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Base Metal Hook Exports

Exports from Bulgaria

In 2022, exports of base metal hooks, eyes and eyelets from Bulgaria soared to X tons, growing by 369% on 2021 figures. Overall, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, base metal hook exports soared to $X in 2022. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for base metal hook exports from Bulgaria, with a 73% share of total exports. Moreover, base metal hook exports to Italy exceeded the volume sent to the second major destination, Denmark (X tons), more than tenfold. Sweden (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy amounted to +46.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+72.5% per year) and Sweden (+132.2% per year).

In value terms, Italy ($X) emerged as the key foreign market for base metal hooks, eyes and eyelets exports from Bulgaria, comprising 80% of total exports. The second position in the ranking was held by Sweden ($X), with a 4% share of total exports. It was followed by North Macedonia, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy amounted to +39.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+87.6% per year) and North Macedonia (+15.5% per year).

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2022, increasing by 15% against the previous year. In general, the export price, however, saw a perceptible slump. The most prominent rate of growth was recorded in 2018 an increase of 91%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+7.3%), while the prices for the other major destinations experienced mixed trend patterns.

Base Metal Hook Imports

Imports into Bulgaria

In 2022, approx. X tons of base metal hooks, eyes and eyelets were imported into Bulgaria; increasing by 117% compared with the previous year. In general, imports posted a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of 144%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, base metal hook imports surged to $X in 2022. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2016 when imports increased by 81%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Greece (X tons) constituted the largest supplier of base metal hook to Bulgaria, accounting for a 66% share of total imports. Moreover, base metal hook imports from Greece exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. Turkey (X tons) ranked third in terms of total imports with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece totaled +36.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.5% per year) and Turkey (+10.7% per year).

In value terms, Italy ($X), Greece ($X) and France ($X) constituted the largest base metal hook suppliers to Bulgaria, together comprising 84% of total imports. Germany, China, Turkey and Poland lagged somewhat behind, together accounting for a further 10%.

Poland, with a CAGR of +48.0%, recorded the highest growth rate of 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

The average base metal hook import price stood at $X per ton in 2022, waning by -35.1% against the previous year. In general, the import price showed a deep setback. The pace of growth appeared the most rapid in 2021 an increase of 136%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 France ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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