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Store → Computer, Electronic And Optical Products → Watches And Clocks → Watches
Report Bulgaria - Watches - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Nov 24, 2022

Bulgaria - Watches - Market Analysis, Forecast, Size, Trends and Insights
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Bulgaria: Watch Market 2022

Watch Market Size in Bulgaria

The Bulgarian watch market skyrocketed to $X in 2021, growing by 43% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -7.3% against 2019 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Watch Exports

Exports from Bulgaria

In 2021, the amount of watches exported from Bulgaria expanded rapidly to X units, picking up by 9.3% against the previous year's figure. In general, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +9.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +87.8% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 59%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, watch exports dropped to $X in 2021. Over the period under review, total exports indicated a pronounced increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -29.8% against 2017 indices. The growth pace was the most rapid in 2017 with an increase of 76% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sweden (X units), Ireland (X units) and Cyprus (X units) were the main destinations of watch exports from Bulgaria, together comprising 50% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of +261.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for watch exported from Bulgaria were Greece ($X), Italy ($X) and Hong Kong SAR ($X), together accounting for 60% of total exports. Cyprus, Romania, Ireland, Sweden, the UK and Kosovo lagged somewhat behind, together accounting for a further 22%.

Among the main countries of destination, Cyprus, with a CAGR of +215.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average watch export price stood at $X per unit in 2021, falling by -14.3% against the previous year. In general, the export price saw a noticeable descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 31%. The export price peaked at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Italy ($X per unit), while the average price for exports to Kosovo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+28.7%), while the prices for the other major destinations experienced more modest paces of growth.

Watch Imports

Imports into Bulgaria

In 2021, approx. X units of watches were imported into Bulgaria; growing by 24% against the year before. Over the period under review, total imports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +34.4% against 2017 indices. The pace of growth was the most pronounced in 2013 with an increase of 105%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, watch imports surged to $X in 2021. In general, imports recorded buoyant growth. The pace of growth was the most pronounced in 2013 with an increase of 49%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Hong Kong SAR (X units), Greece (X units) and Germany (X units) were the main suppliers of watch imports to Bulgaria, together accounting for 59% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +30.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest watch suppliers to Bulgaria were Greece ($X), France ($X) and Germany ($X), with a combined 63% share of total imports.

Among the main suppliers, Greece, with a CAGR of +39.9%, saw the highest growth rate of 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 watch import price stood at $X per unit in 2021, picking up by 14% against the previous year. In general, the import price saw a measured expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 51% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+27.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2021 2007-2021 2022-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for watches in the world?
+
The countries with the highest volumes of consumption in 2021 were Saudi Arabia, China and the United States, together comprising 46% of global consumption.
What are the largest producers of watches in the world?
+
The country with the largest volume of watch production was China, accounting for 67% of total volume. Moreover, watch production in China exceeded the figures recorded by the second-largest producer, Japan, fivefold. The third position in this ranking was held by Hong Kong SAR, with a 6.2% share.
What are the leading suppliers of watches to Bulgaria?
+
In value terms, Greece, France and Germany constituted the largest watch suppliers to Bulgaria, with a combined 63% share of total imports.
What are the leading importers of watches from Bulgaria?
+
In value terms, the largest markets for watch exported from Bulgaria were Greece, Italy and Hong Kong SAR, with a combined 60% share of total exports. Cyprus, Romania, Ireland, Sweden, the UK and Kosovo lagged somewhat behind, together accounting for a further 22%.
What is the average export price for watches in Bulgaria?
+
The average watch export price stood at $57 per unit in 2021, dropping by -14.3% against the previous year.
What is the average import price for watches in Bulgaria?
+
In 2021, the average watch import price amounted to $67 per unit, with an increase of 14% against the previous year.

This report provides an in-depth analysis of the watch market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• Prodcom 26521100 - Wrist-watches, pocket-watches, with case of precious metal or of metal clad with precious metal
• Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
• Bulgaria

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Bulgaria
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS  This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

This Chapter is Available Only for the Professional Edition PRO
4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

This Chapter is Available Only for the Professional Edition PRO
5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

This Chapter is Available Only for the Professional Edition PRO
6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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