Bulgaria: Cotton Bag Market 2022

Cotton Bag Market Size in Bulgaria

For the seventh consecutive year, the Bulgarian cotton bag market recorded growth in sales value, which increased by X% to $X in 2021. Overall, consumption posted a strong expansion. Cotton bag consumption peaked in 2021 and is expected to retain growth in the near future.

Cotton Bag Production in Bulgaria

In value terms, cotton bag production expanded notably to $X in 2021 estimated in export price. In general, production saw a pronounced decrease. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Cotton Bag Exports

Exports from Bulgaria

Cotton bag exports from Bulgaria skyrocketed to X tons in 2021, picking up by X% compared with 2020 figures. In general, exports saw a prominent increase. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, cotton bag exports surged to $X in 2021. Overall, exports saw a resilient expansion. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for cotton bag exports from Bulgaria, accounting for a X% share of total exports. Moreover, cotton bag exports to the Netherlands exceeded the volume sent to the second major destination, Switzerland (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Switzerland (+X% per year) and the United States (+X% per year).

In value terms, Switzerland ($X) emerged as the key foreign market for cotton bag exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by the Netherlands, with an X% share.

From 2012 to 2021, the average annual growth rate of value to Switzerland amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+X% per year) and the Netherlands (X% per year).

Export Prices by Country

The average cotton bag export price stood at $X per ton in 2021, dropping by -X% against the previous year. Overall, the export price recorded a perceptible reduction. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Switzerland ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+X%), while the prices for the other major destinations experienced mixed trend patterns.

Cotton Bag Imports

Imports into Bulgaria

In 2021, the amount of sacks and bags of cotton imported into Bulgaria skyrocketed to X tons, surging by X% compared with the year before. Overall, imports enjoyed significant growth. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, cotton bag imports skyrocketed to $X in 2021. In general, imports continue to indicate a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of cotton bag to Bulgaria, with a X% share of total imports. Moreover, cotton bag imports from China exceeded the figures recorded by the second-largest supplier, North Macedonia (X tons), more than tenfold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: North Macedonia (X% per year) and Italy (+X% per year).

In value terms, China ($X) constituted the largest supplier of cotton bag to Bulgaria, comprising X% of total imports. The second position in the ranking was held by North Macedonia ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: North Macedonia (X% per year) and Italy (+X% per year).

Import Prices by Country

In 2021, the average cotton bag import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, saw a deep reduction. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was North Macedonia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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