Bulgaria: Unwrought Silver Market 2024

Unwrought Silver Market Size in Bulgaria

In 2022, the Bulgarian unwrought silver market increased by X% to $X, rising for the third consecutive year after two years of decline. In general, consumption saw a strong increase. Unwrought silver consumption peaked in 2022 and is expected to retain growth in the near future.

Unwrought Silver Production in Bulgaria

In value terms, unwrought silver production expanded notably to $X in 2022 estimated in export price. Overall, production showed a abrupt downturn. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Unwrought silver production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Unwrought Silver Exports

Exports from Bulgaria

In 2022, exports of silver, unwrought or in powder form from Bulgaria was estimated at X tons, with an increase of X% compared with 2021. In general, exports, however, saw a precipitous decline. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, unwrought silver exports expanded rapidly to $X in 2022. Overall, exports, however, saw a precipitous slump. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Italy (X tons), the United States (X kg) and Canada (X kg) were the main destinations of unwrought silver exports from Bulgaria, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of X.0%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Canada ($X) constituted the largest markets for unwrought silver exported from Bulgaria worldwide, with a combined X% share of total exports.

Canada, with a CAGR of X.7%, 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 unwrought silver export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. The export price peaked at $X,281 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X,034 per ton), while the average price for exports to Romania ($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 Romania (X%), while the prices for the other major destinations experienced mixed trend patterns.

Unwrought Silver Imports

Imports into Bulgaria

For the third year in a row, Bulgaria recorded growth in purchases abroad of silver, unwrought or in powder form, which increased by X% to X tons in 2022. In general, imports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, unwrought silver imports surged to $X in 2022. Overall, imports saw a significant increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Italy (X tons) constituted the largest supplier of unwrought silver to Bulgaria, with a X% share of total imports. Moreover, unwrought silver imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Estonia (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 Italy amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Estonia (X% per year).

In value terms, Italy ($X) constituted the largest supplier of silver, unwrought or in powder form to Bulgaria, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by Estonia, with a X% share.

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

Import Prices by Country

In 2022, the average unwrought silver import price amounted to $X per ton, with an increase of X% against the previous year. In general, the import price posted a remarkable increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and Turkey ($X per ton), while the price for the UK ($X per ton) and Germany ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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