Bulgaria: Electric Sound Amplifier Market 2024

Electric Sound Amplifier Market Size in Bulgaria

In 2022, the Bulgarian electric sound amplifier market increased by 137% to $X, rising for the second consecutive year after two years of decline. In general, consumption saw a remarkable increase. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Electric Sound Amplifier Production in Bulgaria

In value terms, electric sound amplifier production shrank rapidly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 87%. Electric sound amplifier production peaked at $X in 2021, and then declined notably in the following year.

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Electric Sound Amplifier Exports

Exports from Bulgaria

In 2022, the amount of electric sound amplifier sets exported from Bulgaria shrank sharply to X units, reducing by -20.9% compared with 2021. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by 153% against the previous year. Over the period under review, the exports attained the maximum at X units in 2021, and then reduced notably in the following year.

In value terms, electric sound amplifier exports shrank dramatically to $X in 2022. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2017 with an increase of 141% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Germany (X units) was the main destination for electric sound amplifier exports from Bulgaria, accounting for a 50% share of total exports. Moreover, electric sound amplifier exports to Germany exceeded the volume sent to the second major destination, the United States (X units), fourfold. The third position in this ranking was taken by China (X units), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany stood at +38.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+33.4% per year) and China (+118.8% per year).

In value terms, Germany ($X) remains the key foreign market for electric sound amplifier sets exports from Bulgaria, comprising 46% of total exports. The second position in the ranking was held by the United States ($X), with a 12% share of total exports. It was followed by Canada, with an 8.6% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +49.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+24.6% per year) and Canada (+58.4% per year).

Export Prices by Country

The average electric sound amplifier export price stood at $X per unit in 2022, shrinking by -4.1% against the previous year. Over the period under review, the export price, however, saw a resilient increase. The pace of growth was the most pronounced in 2018 an increase of 41% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+432.2%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Sound Amplifier Imports

Imports into Bulgaria

In 2022, supplies from abroad of electric sound amplifier sets increased by 111% to X units, rising for the second consecutive year after two years of decline. Overall, imports recorded buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, electric sound amplifier imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X units), the Netherlands (X units) and Romania (X units) were the main suppliers of electric sound amplifier imports to Bulgaria, together accounting for 87% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +69.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X) constituted the largest supplier of electric sound amplifier sets to Bulgaria, comprising 41% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by Romania, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from the Netherlands totaled +78.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+9.6% per year) and Romania (+54.6% per year).

Import Prices by Country

The average electric sound amplifier import price stood at $X per unit in 2022, waning by -19.9% against the previous year. Overall, the import price showed a mild setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 43%. The import price peaked at $X per unit in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Romania ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+5.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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