Bulgaria: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Bulgaria

The Bulgarian market for processed petroleum oils and distillates reduced rapidly to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, recorded mild growth. As a result, consumption attained the peak level of $X, and then declined significantly in the following year.

Production of Processed Petroleum Oils and Distillates in Bulgaria

In value terms, processed petroleum oils and distillates production declined to $X in 2022 estimated in export price. Over the period under review, production showed a perceptible shrinkage. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Processed Petroleum Oils and Distillates

Exports from Bulgaria

In 2022, after two years of decline, there was significant growth in overseas shipments of processed petroleum oils and distillates, when their volume increased by X% to X tons. Over the period under review, exports, however, saw a mild reduction. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2022. In general, exports recorded a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ukraine (X tons), Egypt (X tons) and Gibraltar (X tons) were the main destinations of processed petroleum oils and distillates exports from Bulgaria, together comprising X% of total exports. Turkey, Romania, Libya, Georgia, Croatia, Lebanon, Serbia, Hungary, North Macedonia and Israel lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Libya (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) remains the key foreign market for processed petroleum oils and distillates exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with an X% share of total exports. It was followed by Gibraltar, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Ukraine amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (X% per year) and Gibraltar (X% per year).

Export Prices by Country

In 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, picking up by X% against the previous year. In general, the export price continues to indicate modest growth. The growth pace was the most rapid in 2021 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the immediate term.

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

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

Imports of Processed Petroleum Oils and Distillates

Imports into Bulgaria

In 2022, imports of processed petroleum oils and distillates into Bulgaria soared to X tons, growing by X% on the previous year. Overall, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2014; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Romania (X tons) constituted the largest processed petroleum oils and distillates supplier to Bulgaria, accounting for a X% share of total imports. Moreover, processed petroleum oils and distillates imports from Romania exceeded the figures recorded by the second-largest supplier, Greece (X tons), fourfold. The third position in this ranking was held by Turkey (X tons), with a X% share.

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

In value terms, Romania ($X) constituted the largest supplier of processed petroleum oils and distillates to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by Greece ($X), with a X% share of total imports. It was followed by Turkey, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Romania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (X% per year) and Turkey (X% per year).

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price, however, saw a abrupt setback. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :