Bulgaria: Silver Nitrate Market 2024

Silver Nitrate Market Size in Bulgaria

After three years of growth, the Bulgarian silver nitrate market decreased by X% to $X in 2022. Over the period under review, consumption, however, showed a pronounced contraction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Silver Nitrate Production in Bulgaria

In value terms, silver nitrate production totaled less than $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with a decrease of X%. Silver nitrate production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Silver Nitrate Exports

Exports from Bulgaria

For the third year in a row, Bulgaria recorded growth in shipments abroad of silver nitrate, which increased by X% to X tons in 2022. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2018 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, silver nitrate exports surged to $X in 2022. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

The Czech Republic (X tons) was the main destination for silver nitrate exports from Bulgaria, accounting for a X% share of total exports. Moreover, silver nitrate exports to the Czech Republic exceeded the volume sent to the second major destination, Germany (X tons), ninefold.

From 2015 to 2022, the average annual growth rate of volume to the Czech Republic totaled X.0%.

In value terms, the Czech Republic ($X) emerged as the key foreign market for silver nitrate exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with an X% share of total exports.

From 2015 to 2022, the average annual rate of growth in terms of value to the Czech Republic stood at X.2%.

Export Prices by Country

The average silver nitrate export price stood at $X per ton in 2022, which is down by X% against the previous year. In general, the export price, however, posted strong growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Czech Republic totaled $X per ton.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced mixed trend patterns.

Silver Nitrate Imports

Imports into Bulgaria

After two years of growth, purchases abroad of silver nitrate decreased by X% to X tons in 2022. Overall, total imports indicated a mild increase from 2012 to 2022: its volume 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 2013 with an increase of X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, silver nitrate imports contracted dramatically to $X in 2022. Over the period under review, imports recorded a noticeable slump. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then shrank notably in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest silver nitrate supplier to Bulgaria, accounting for a X% share of total imports. Moreover, silver nitrate imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the UK (X tons), fivefold. Belgium (X kg) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Belgium (X% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of silver nitrate to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

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

Import Prices by Country

The average silver nitrate import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price showed a pronounced setback. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached 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 the Netherlands ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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