Bulgaria: Men Knitwear Market 2024

Men Knitwear Market Size in Bulgaria

In 2022, the Bulgarian men knitwear market increased by X% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption enjoyed significant growth. Men knitwear consumption peaked in 2022 and is expected to retain growth in years to come.

Men Knitwear Production in Bulgaria

In value terms, men knitwear production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production posted significant growth. As a result, production reached the peak level and is likely to continue growth in the immediate term.

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Men Knitwear Exports

Exports from Bulgaria

In 2022, shipments abroad of men's or boys' clothing (knitted or crocheted) increased by X% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, men knitwear exports soared to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X units) was the main destination for men knitwear exports from Bulgaria, with a X% share of total exports. Moreover, men knitwear exports to Italy exceeded the volume sent to the second major destination, Greece (X units), threefold. The third position in this ranking was taken by Germany (X units), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and Germany (X% per year).

In value terms, the largest markets for men knitwear exported from Bulgaria were Italy ($X), Germany ($X) and Austria ($X), together accounting for X% of total exports. France, the UK, Greece, Hungary, Romania and Spain lagged somewhat behind, together accounting for a further X%.

Hungary, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average men knitwear export price amounted to $X per unit, increasing by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to Greece ($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 Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Men Knitwear Imports

Imports into Bulgaria

In 2022, purchases abroad of men's or boys' clothing (knitted or crocheted) was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by X%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, men knitwear imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a buoyant increase. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X units) constituted the largest supplier of men knitwear to Bulgaria, with a X% share of total imports. Moreover, men knitwear imports from Turkey exceeded the figures recorded by the second-largest supplier, Hungary (X units), twofold. Greece (X units) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and Greece (X% per year).

In value terms, the largest men knitwear suppliers to Bulgaria were Belgium ($X), Turkey ($X) and Hungary ($X), with a combined X% share of total imports.

Hungary, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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 men knitwear import price stood at $X per unit in 2022, growing by X% against the previous year. Over the period under review, the import price saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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