Bulgaria: Binocular Market 2022

Binocular Market Size in Bulgaria

The Bulgarian binocular market surged to $X in 2021, rising by 216% against the previous year. In general, consumption enjoyed buoyant growth. Over the period under review, the market hit record highs in 2021 and is likely to see steady growth in the immediate term.

Binocular Production in Bulgaria

In value terms, binocular production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, showed a pronounced shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 464% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Binocular Exports

Exports from Bulgaria

In 2021, approx. X units of binoculars were exported from Bulgaria; picking up by 258% compared with 2020 figures. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 5,497%. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, binocular exports soared to $X in 2021. In general, exports saw significant growth. The pace of growth was the most pronounced in 2014 with an increase of 19,131%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Denmark (X units), Italy (X units) and Austria (X units) were the main destinations of binocular exports from Bulgaria, with a combined 69% 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 Denmark (with a CAGR of +372.2%), while the other leaders experienced more modest paces of growth.

In value terms, Denmark ($X) emerged as the key foreign market for binocular exports from Bulgaria, comprising 59% of total exports. The second position in the ranking was taken by Austria ($X), with a 17% share of total exports. It was followed by Poland, with a 4.7% share.

From 2012 to 2021, the average annual growth rate of value to Denmark stood at +335.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+51.3% per year) and Poland (+48.2% per year).

Export Prices by Country

The average binocular export price stood at $X per unit in 2021, almost unchanged from the previous year. In general, the export price recorded slight growth. The most prominent rate of growth was recorded in 2018 when the average export price increased by 763% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Poland ($X per unit), while the average price for exports to Greece ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+31.6%), while the prices for the other major destinations experienced more modest paces of growth.

Binocular Imports

Imports into Bulgaria

In 2021, the amount of binoculars imported into Bulgaria surged to X units, jumping by 493% on the previous year's figure. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, binocular imports skyrocketed to $X in 2021. Overall, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest binocular supplier to Bulgaria, with a 83% share of total imports. Moreover, binocular imports from China exceeded the figures recorded by the second-largest supplier, Germany (X units), sevenfold.

From 2012 to 2021, the average annual growth rate of volume from China stood at +51.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+20.6% per year) and the United States (+39.6% per year).

In value terms, China ($X) constituted the largest supplier of binocular to Bulgaria, comprising 43% of total imports. The second position in the ranking was taken by Germany ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China totaled +60.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.0% per year) and the United States (+39.6% per year).

Import Prices by Country

The average binocular import price stood at $X per unit in 2021, which is down by -54.6% against the previous year. Over the period under review, the import price continues to indicate a drastic downturn. The pace of growth was the most pronounced in 2014 an increase of 68%. The import price peaked at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+5.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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