Bulgaria: Diamond Market Overview 2020

Diamond Market Size in Bulgaria

The revenue of the diamond market in Bulgaria amounted to $X in 2018, going down 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, diamond consumption, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2017 when the market value increased by X% y-o-y. In that year, the diamond market reached its peak level of $X, and then declined slightly in the following year.

Diamond Exports

Exports from Bulgaria

In 2018, approx. X tonnes of diamonds and other precious stones (unworked) were exported from Bulgaria; jumping by X% against the previous year. In general, diamond exports, however, continue to indicate an abrupt deduction. The most prominent rate of growth was recorded in 2018 when exports increased by X% year-to-year. Exports peaked at X tonnes in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

In value terms, diamond exports totaled $X in 2018. In general, diamond exports, however, continue to indicate a sharp downturn. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, diamond exports attained their maximum at $X in 2007; however, from 2008 to 2018, exports failed to regain their momentum.

Exports by Country

Turkey (X tonnes) was the main destination for diamond exports from Bulgaria, with a X% share of total exports. It was followed by Ireland (X kg), with a X% share of total exports.

From 2007 to 2018, the average annual growth rate of volume to Turkey amounted to +X%.

In value terms, Ireland ($X) remains the key foreign market for diamond exports from Bulgaria, comprising X% of total diamond exports. The second position in the ranking was occupied by Turkey ($X), with a X% share of total exports.

From 2007 to 2018, the average annual rate of growth in terms of value to Ireland totaled -X%.

Export Prices by Country

The average diamond export price stood at $X per tonne in 2018, dropping by -X% against the previous year. Overall, the diamond export price continues to indicate a sharp reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by X% year-to-year. The export price peaked at $X per tonne in 2009; however, from 2010 to 2018, export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2018, the country with the highest price was Ireland ($X per tonne), while the average price for exports to Turkey amounted to $X per tonne.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Ireland.

Diamond Imports

Imports into Bulgaria

In 2018, approx. X tonnes of diamonds and other precious stones (unworked) were imported into Bulgaria; therefore, remained relatively stable against the previous year. In general, diamond imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2012 when imports increased by X% against the previous year. Over the period under review, diamond imports attained their peak figure in 2018 and are expected to retain its growth in the immediate term.

In value terms, diamond imports amounted to $X in 2018. Over the period under review, diamond imports continue to indicate a sharp deduction. The most prominent rate of growth was recorded in 2016 with an increase of X% y-o-y. Over the period under review, diamond imports attained their maximum at $X in 2007; however, from 2008 to 2018, imports remained at a lower figure.

Imports by Country

South Africa (X tonnes), Brazil (X tonnes) and Turkey (X kg) were the main suppliers of diamond imports to Bulgaria, with a combined X% share of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main suppliers, was attained by South Africa, while the other leaders experienced more modest paces of growth.

In value terms, Tanzania ($X), Brazil ($X) and South Africa ($X) appeared to be the largest diamond suppliers to Bulgaria, together accounting for X% of total imports.

Tanzania recorded the highest growth rate of imports, in terms of the main suppliers over the last eleven years, while the other leaders experienced mixed trend patterns.

Import Prices by Country

The average diamond import price stood at $X per tonne in 2018, lowering by -X% against the previous year. Overall, the diamond import price continues to indicate a precipitous reduction. The pace of growth was the most pronounced in 2015 when the average import price increased by X% year-to-year. Over the period under review, the average import prices for diamonds and other precious stones (unworked) reached their peak figure at $X per tonne in 2007; however, from 2008 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2018, the country with the highest price was Tanzania ($X per tonne), while the price for South Africa ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the Czech Republic, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform