For retail sale medicaments with vitamins market in Bulgaria

Earlier Report Observations

The market for retail-packed vitamin medicaments in Bulgaria experienced significant shifts between 2018 and 2021. After declining to 17.3 million dollars in 2019, the market value rebounded strongly, reaching 22.1 million dollars in 2020 and further growing to 24.2 million dollars in 2021.

This recovery was underpinned by a substantial and steady increase in import value, which rose from 17.2 million dollars in 2018 to 28.4 million dollars in 2021. The surge in imports more than compensated for a drop in domestic production value after 2020, while export value, after a sharp rise in 2019, moderated in the subsequent years.

Import growth continued beyond 2021, reaching 35.4 million dollars by 2024, signaling sustained demand for these products in the Bulgarian retail sector throughout the full period.

Production for retail sale medicaments with vitamins in Bulgaria

In value, 2017-2020, K $ US

In Bulgaria, the output value of retail sale medicaments with vitamins reached 6 162 K $ US in 2020, marking a 12.7% increase from the previous year. Production grew by 8.9% between 2018 and 2020, averaging an annualized rate of 2.9%. The lowest value was recorded in 2019 at 5 469 K $ US, which saw the largest decline of 3.4%.

Annual dynamics of production in Bulgaria in value, 2017-2020, K $ US

Exports for retail sale medicaments with vitamins from Bulgaria

Exports in kind, t

Market performance showed noticeable fluctuations during this period. Export volumes reached their minimum in 2018 at 36.5 t, with the largest decline of 41.1% that year. In 2019, volumes surged by 1,120.4%, climbing to a peak of 516.1 t in 2020, up 15.8% from 2019. Overall, volumes shifted 14.1-fold from the low in 2018 to the high in 2020.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, t

From 2017 to 2020, Italy and Germany were the primary buyers of retail sale medicaments with vitamins from Bulgaria, together accounting for 81.2% of total exports in kind, with other countries making up the remainder.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Bulgaria in kind, 2017-2020

Exports in value, K $ US

Market performance exhibited significant fluctuations during this period. Export values hit their lowest point in 2018 at 2 000 K $ US, with the largest decline of 85.8% that year. In 2019, values peaked at 14 977 K $ US, reflecting the largest increase of 648.9%. By 2020, values dropped to 10 568 K $ US, a sharp decrease of 29.4% from the previous year. Overall, values varied 7.5 times from the low in 2018 to the high in 2019.

Annual dynamics of product's exports from Bulgaria in value, 2017-2020, K $ US

Between 2017 and 2020, Italy, the United Kingdom, and Romania were the main markets for Bulgaria's exports of retail sale medicaments with vitamins in value terms. Italy accounted for 49.7% of exports, the United Kingdom for 18.6%, and Romania for 6.2%, together representing 74.5% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Bulgaria in value, 2017-2020

Imports for retail sale medicaments with vitamins to Bulgaria

Imports in kind, t

Market behavior was volatile during these years. Import volumes were at their lowest in 2018 at 345.3 t, with the largest decline of 5.3% that year. In 2019, volumes peaked at 665.4 t, showing the largest increase of 92.7%. By 2020, imports stood at 652.7 t, a slight decline of 1.9% from 2019. Overall, volumes showed a 1.9-fold gap from the low in 2018 to the high in 2019.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, t

From 2017 to 2020, Italy, Germany, and France were the largest suppliers of retail sale medicaments with vitamins to Bulgaria in kind. Italy contributed 37.6% of imports, Germany 27.2%, and France 12.5%, together forming 77.2% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Bulgaria in kind, 2017-2020

Imports in value, K $ US

In 2020, Bulgaria imported retail sale medicaments with vitamins valued at 17 158 K $ US, indicating a 0.9% decline from 2019. Between 2017 and 2020, imports decreased by 2.4%, averaging an annualized rate of 0.8%. The lowest value was recorded in 2018 at 17 158 K $ US, which saw the largest decline of 36.9%. In 2019, imports showed the largest increase of 56.0%.

Annual dynamics of product's imports to Bulgaria in value, 2017-2020, K $ US

Over the period from 2017 to 2020, Germany, Italy, and the United Kingdom were the primary suppliers of retail sale medicaments with vitamins to Bulgaria in value terms. Germany accounted for 49.7% of imports, Italy for 19.9%, and the United Kingdom for 12.5%, jointly making up 82.1% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Bulgaria in value, 2017-2020