Hydraulic market in Bulgaria

Earlier Report Observations

The hydraulic market in Bulgaria experienced significant shifts between 2018 and 2024. Market volume in physical terms contracted from 112.6 thousand tonnes in 2018 to a low of 78.6 thousand tonnes in 2022, before partially recovering to 87.9 thousand tonnes by 2024. In contrast, the market's value in US dollars demonstrated consistent growth, rising from $9.2 million in 2018 to $12.8 million in 2024, indicating substantial price increases throughout the period.

The global COVID-19 pandemic impacted production costs and supply chains from 2020 onward, contributing to rising market value even as physical volumes fluctuated. This trend intensified in 2022 when the war in Ukraine and associated logistical shocks further elevated costs, leading to a sharp drop in volume that year while pushing the market's monetary value above $10.8 million.

Following the 2022 low point, the market's physical volume began a recovery, increasing to 83.6 thousand tonnes in 2023 and 87.9 thousand tonnes in 2024. The market value continued its upward trajectory during these years, reaching $12.8 million in 2024, as the broader economic environment stabilized from earlier disruptions.

Production hydraulic in Bulgaria

In value, 2017-2020, K $ US

In Bulgaria, the output value of hydraulic products remained virtually unchanged in 2020, reaching 8 404 K $ US. Over the period from 2017 to 2020, production increased by 8.7%, with an average annual growth rate of 2.8%. The highest value was recorded in 2018 at 9 730 K $ US, which represented a significant increase of 25.9% compared to the previous year. However, in 2019, production experienced its largest decline, dropping by 13.7%.

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

In kind, 2017-2020, K t

Hydraulic production in Bulgaria declined for the second consecutive year. In 2020, output remained flat year-over-year at 104.4 K t. From 2017 to 2020, production increased by 3.1%, with a compound annual growth rate of 1.0%. The peak was in 2018 at 119.5 K t, marking an 18.1% increase. The largest decline occurred in 2019, with a drop of 12.5%.

Annual dynamics of production in Bulgaria in kind, 2017-2020, K t

Exports hydraulic from Bulgaria

Exports in kind, t

The market showed significant volatility during this period. Exports reached their lowest point in 2017 and peaked in 2018, with a 4.6-fold difference between these years. In 2020, Bulgaria exported 6 050 t of hydraulic, a reduction of 27.4% compared to the previous year. The maximum value was recorded in 2018 at 9 859 t, which represented a substantial increase of 355.2%.

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

From 2017 to 2020, Greece dominated Bulgaria's hydraulic exports in kind, accounting for 76.2% of total flows. The remaining share was distributed among various smaller destinations.

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

The data reveals irregular changes, indicating a volatile market environment. Export values dropped to their lowest point in 2017 and peaked in 2018, with a top-to-bottom ratio of 4.8 times. In 2020, Bulgaria exported hydraulic products worth 543.9 K $ US, a decrease of 22.2% compared to 2019. The maximum value was recorded in 2018 at 846.8 K $ US, which saw a dramatic increase of 376.1%.

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

From 2017 to 2020, Greece absorbed 76.1% of the total value of hydraulic exports from Bulgaria, with the balance spread across a wide range of smaller destinations.

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

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

Imports hydraulic to Bulgaria

Imports in kind, t

The market exhibited volatility over the observed period. Import volumes reached their minimum in 2019 and peaked in 2018, showing a 6.2-fold shift between these years. In 2020, Bulgaria imported 662 t of hydraulic, marking a steep uptick of 39.0% compared to 2019. The minimum value was recorded in 2019 at 476 t, while the maximum was in 2018 at 2 973 t. The largest decline occurred in 2019, with an 84.0% drop.

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

From 2017 to 2020, hydraulic imports to Bulgaria were almost exclusively supplied by Romania, which accounted for 97.9% 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

The data reveals irregular changes, indicating a volatile market environment. Import values reached their minimum in 2019 and peaked in 2018, with a 5.2-fold variation between these years. In 2020, Bulgaria imported hydraulic products worth 543.9 K $ US, amounting to a robust gain of 21.2% from the previous year. The minimum value was recorded in 2019 at 54.9 K $ US, while the maximum was in 2018 at 288.2 K $ US. The largest decline occurred in 2019, with an 80.9% drop, and the largest increase was in 2018, at 49.7%.

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

Over the period from 2017 to 2020, hydraulic imports to Bulgaria were largely oriented towards Romania, whose share in total imports in value terms reached 96.5%.

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

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