Bulgaria: Rum Market 2024

Rum Market Size in Bulgaria

In 2022, the Bulgarian rum market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Rum Production in Bulgaria

In value terms, rum production expanded slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Rum production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Rum Exports

Exports from Bulgaria

In 2022, shipments abroad of rum decreased by X% to X litres, falling for the third consecutive year after four years of growth. Overall, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X litres in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, rum exports shrank rapidly to $X in 2022. Over the period under review, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Romania (X litres), China (X litres) and North Macedonia (X litres) were the main destinations of rum exports from Bulgaria, with a combined X% share of total exports. Serbia, the Netherlands, Cyprus, Italy and Kazakhstan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Netherlands ($X) and North Macedonia ($X) were the largest markets for rum exported from Bulgaria worldwide, with a combined X% share of total exports.

Italy, with a CAGR of X%, recorded the highest growth rate of 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 rum export price amounted to $X per litre, with an increase of X% against the previous year. Overall, the export price, however, continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked at $X per litre in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per litre), while the average price for exports to Serbia ($X per litre) was amongst the lowest.

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

Rum Imports

Imports into Bulgaria

In 2022, supplies from abroad of rum increased by X% to X litres, rising for the second year in a row after three years of decline. Over the period under review, imports showed a relatively flat trend pattern. Imports peaked at X litres in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, rum imports surged to $X in 2022. In general, imports recorded a measured increase. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X litres), the Netherlands (X litres) and Germany (X litres) were the main suppliers of rum imports to Bulgaria, with a combined X% share of total imports. Spain, Romania, the Dominican Republic, France and the UK lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest rum suppliers to Bulgaria were Italy ($X), the Netherlands ($X) and Germany ($X), with a combined X% share of total imports. Spain, Romania, France, the Dominican Republic and the UK lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Romania, with a CAGR of X%, 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 rum import price stood at $X per litre in 2022, which is down by X% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per litre. From 2015 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per litre), while the price for Germany ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform

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