Bulgaria: Carpet Market 2023

Carpet Market Size in Bulgaria

In 2021, after three years of growth, there was significant decline in the Bulgarian carpet market, when its value decreased by -5.8% to $X. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

Carpet Production in Bulgaria

In value terms, carpet production reduced 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 when the production volume increased by 32%. As a result, production reached the peak level of $X, and then shrank in the following year.

Carpet Exports

Exports from Bulgaria

In 2021, shipments abroad of carpets and other textile floor coverings was finally on the rise to reach X square meters after three years of decline. Over the period under review, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, carpet exports skyrocketed to $X in 2021. In general, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X square meters) was the main destination for carpet exports from Bulgaria, with a 74% share of total exports. Moreover, carpet exports to Saudi Arabia exceeded the volume sent to the second major destination, Morocco (X square meters), fourfold. The third position in this ranking was held by Romania (X square meters), with a 2.7% share.

From 2012 to 2021, the average annual growth rate of volume to Saudi Arabia totaled +69.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+283.2% per year) and Romania (+63.0% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for carpet exports from Bulgaria, comprising 76% of total exports. The second position in the ranking was held by Morocco ($X), with a 17% share of total exports. It was followed by Romania, with a 2.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia totaled +70.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+291.4% per year) and Romania (+55.7% per year).

Export Prices by Country

In 2021, the average carpet export price amounted to $X per square meter, growing by 4.6% against the previous year. Over the last nine years, it increased at an average annual rate of +3.0%. The most prominent rate of growth was recorded in 2016 an increase of 22%. The export price peaked at $X per square meter in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+27.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carpet Imports

Imports into Bulgaria

In 2021, overseas purchases of carpets and other textile floor coverings increased by 169% to X square meters, rising for the second year in a row after three years of decline. In general, imports showed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, carpet imports surged to $X in 2021. Over the period under review, imports saw a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X square meters) constituted the largest supplier of carpet to Bulgaria, with a 79% share of total imports. Moreover, carpet imports from Turkey exceeded the figures recorded by the second-largest supplier, Belgium (X square meters), ninefold. India (X square meters) ranked third in terms of total imports with a 3% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+6.0% per year) and India (+51.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of carpet to Bulgaria, comprising 80% of total imports. The second position in the ranking was held by Belgium ($X), with a 5.7% share of total imports. It was followed by the Netherlands, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled +33.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-0.7% per year) and the Netherlands (+6.4% per year).

Import Prices by Country

The average carpet import price stood at $X per square meter in 2021, with an increase of 34% against the previous year. In general, the import price, however, showed a mild curtailment. The import price peaked at $X per square meter in 2012; however, from 2013 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 Turkey ($X per square meter), while the price for Belgium ($X per square meter) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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