Bulgaria: Explosives Market Overview 2021

Explosives Market Size in Bulgaria

In 2020, the Bulgarian explosives market decreased by -X% to $X, falling for the second year in a row after two years of growth. Overall, consumption recorded a noticeable decline. The pace of growth was the most pronounced in 2018 with an increase of X% year-to-year. Explosives consumption peaked at $X in 2008; however, from 2009 to 2020, consumption failed to regain the momentum.

Explosives Production in Bulgaria

In value terms, explosives production declined slightly to $X in 2020 estimated in export prices. Overall, production showed a noticeable decline. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2009; however, from 2010 to 2020, production failed to regain the momentum.

Explosives Exports

Exports from Bulgaria

In 2020, approx. X tonnes of prepared explosives were exported from Bulgaria; with an increase of X% compared with the year before. Over the period under review, exports, however, recorded a deep slump. The pace of growth appeared the most rapid in 2010 when exports increased by X% year-to-year. As a result, exports reached the peak of X tonnes. From 2011 to 2020, the growth exports failed to regain the momentum.

In value terms, explosives exports plummeted to $X in 2020. Overall, exports, however, showed a perceptible contraction. The pace of growth was the most pronounced in 2008 when exports increased by X% against the previous year. Exports peaked at $X in 2011; however, from 2012 to 2020, exports remained at a lower figure.

Exports by Country

Romania (X tonnes) was the main destination for explosives exports from Bulgaria, with a X% share of total exports. Moreover, explosives exports to Romania exceeded the volume sent to the second major destination, Spain (X tonnes), threefold. The third position in this ranking was occupied by Serbia (X tonnes), with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of volume to Romania stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+X% per year) and Serbia (-X% per year).

In value terms, Spain ($X), Serbia ($X) and Belgium ($X) were the largest markets for explosives exported from Bulgaria worldwide, together comprising X% of total exports.

Spain (+X% per year) recorded the highest rates of growth with regard to the value of exports, in terms of 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

The average explosives export price stood at $X per tonne in 2020, waning by -X% against the previous year. Overall, the export price, however, enjoyed a temperate increase. The pace of growth was the most pronounced in 2016 an increase of X% year-to-year. Over the period under review, average export prices attained the maximum at $X per tonne in 2019, and then contracted sharply in the following year.

There were significant differences in the average prices for the major foreign markets. In 2020, the country with the highest price was Belgium ($X per tonne), while the average price for exports to Romania ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Serbia, while the prices for the other major destinations experienced more modest paces of growth.

Explosives Imports

Imports into Bulgaria

In 2020, overseas purchases of prepared explosives decreased by -X% to X tonnes, falling for the second year in a row after two years of growth. In general, imports, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tonnes in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

In value terms, explosives imports shrank notably to $X in 2020. Over the period under review, imports, however, continue to indicate notable growth. The pace of growth appeared the most rapid in 2010 when imports increased by X% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2020, imports failed to regain the momentum.

Imports by Country

In 2020, Romania (X tonnes) was the main explosives supplier to Bulgaria, with a X% share of total imports. Moreover, explosives imports from Romania exceeded the figures recorded by the second-largest supplier, Greece (X tonnes), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume from Romania amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+X% per year) and Serbia (-X% per year).

In value terms, the largest explosives suppliers to Bulgaria were Romania ($X), Serbia ($X) and Greece ($X), together comprising X% of total imports.

In terms of the main suppliers, Greece saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average explosives import price stood at $X per tonne in 2020, which is down by -X% against the previous year. In general, the import price, however, continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% year-to-year. As a result, import price reached the peak level of $X per tonne. From 2017 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Serbia ($X per tonne), while the price for Greece ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Serbia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for prepared explosives in the world?

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The country with the largest volume of explosives consumption was China (1.1M tonnes), comprising approx. 23% of total volume. Moreover, explosives consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (427K tonnes), twofold. Pakistan (213K tonnes) ranked third in terms of total consumption with a 4.7% share.

What are the largest producers of prepared explosives in the world?

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China (1.1M tonnes) remains the largest explosives producing country worldwide, accounting for 23% of total volume. Moreover, explosives production in China exceeded the figures recorded by the second-largest producer, the U.S. (430K tonnes), twofold. Pakistan (213K tonnes) ranked third in terms of total production with a 4.7% share.

What are the leading suppliers of prepared explosives to Bulgaria?

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In value terms, the largest explosives suppliers to Bulgaria were Romania ($1.9M), Serbia ($1.4M) and Greece ($75K), with a combined 96% share of total imports.

What are the leading importers of prepared explosives from Bulgaria?

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In value terms, Spain ($574K), Serbia ($467K) and Belgium ($446K) were the largest markets for explosives exported from Bulgaria worldwide, together accounting for 65% of total exports.

What is the average export price for prepared explosives in Bulgaria?

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In 2020, the average explosives export price amounted to $2,465 per tonne, declining by -51.9% against the previous year.

What is the average import price for prepared explosives in Bulgaria?

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The average explosives import price stood at $2,065 per tonne in 2020, declining by -22.5% against the previous year.