Iron or steel stranded wire and ropes market in Bulgaria

Earlier Report Observations

The market for iron or steel stranded wire and ropes in Bulgaria experienced notable fluctuations in volume between 2018 and 2024. Starting at 3 760 t in 2018, consumption declined to 3 287 t the following year. A recovery began thereafter, with the market reaching 3 930 t in 2021 and peaking at 4 614 t in 2023, before moderating to 4 293 t in 2024.

Measured in value, the market displayed a strong upward trajectory from 2021 to 2023, jumping from 8.6 million USD to 12.2 million USD, largely due to increased import values. The market value then contracted to 9.1 million USD in 2024. During this period, the Bulgarian market was supported by the activity of established domestic producers, such as YOTA Ltd., an active manufacturer and trader of steel ropes and related accessories, contributing to the available supply and product range.

Production iron or steel stranded wire and ropes in Bulgaria

In value, 2017-2020, K $ US

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

In kind, 2017-2020, t

In 2019, Bulgaria produced 591.8 tonnes of iron or steel stranded wire and ropes, marking a 7.7% decrease from 2018. Production peaked in 2018 at 641.5 tonnes, which represented a 5.6% increase from the previous year. Over the 2017-2019 period, overall production declined by 2.6%, with a compound annual growth rate of 0.9%.

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

Exports iron or steel stranded wire and ropes from Bulgaria

Exports in kind, t

Exports of iron or steel stranded wire and ropes from Bulgaria have grown for two consecutive years. In 2020, exports reached 375 tonnes, a sharp 33.6% increase from 2019. The lowest export volume was recorded in 2018 at 183 tonnes, which was a 12.0% decline from 2017. In 2019, exports saw the largest increase of 53.1%. Over the 2017-2020 period, exports rose by 79.9%, with a compound annual growth rate of 21.6%.

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

From 2017 to 2020, North Macedonia, Ukraine, and Serbia were the top contributors to Bulgaria's exports in kind. North Macedonia accounted for 29.1% of exports, Ukraine for 19.3%, and Serbia for 17.1%. Together, these three countries represented 65.5% of total export flows.

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

Export values showed significant fluctuations during this period. The minimum value was recorded in 2018 at 648 000 US dollars, while the maximum was in 2019 at 1 298 000 US dollars, representing a 2-fold difference. In 2019, exports saw the largest increase of 100.1%. In 2020, export values totalled 1 010 000 US dollars, a 22.2% decrease from 2019.

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

The export market in value terms was widely distributed from 2017 to 2020. North Macedonia led with 16.8% of exports, followed by Serbia at 13.4% and Turkey at 8.0%. These three countries together accounted for 38.2% of total flows, while the remaining 61.8% was shared among numerous other countries.

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

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

Imports iron or steel stranded wire and ropes to Bulgaria

Imports in kind, t

After two years of decline, imports of iron or steel stranded wire and ropes into Bulgaria increased in 2020. Imports reached 4 270 tonnes, a 43.4% uptick from 2019. The lowest import volume was in 2019 at 2 977 tonnes, following a 10.5% decline in 2018. Over the 2017-2020 period, imports grew by 15.8%, with a compound annual growth rate of 5.0%.

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

The geographical structure of imports in kind was highly diversified from 2017 to 2020. Russia accounted for 17.2% of imports, Hungary for 15.1%, and Italy for 14.1%. Together, these three countries represented 46.4% of total import flows, with the remaining 53.6% distributed among numerous smaller partner countries.

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's imports of iron or steel stranded wire and ropes amounted to 6 190 000 US dollars, a 9.8% advance from 2019. The largest decline occurred in 2019 at 4.7%, while the largest increase was in 2018 at 11.3%. Over the 2017-2020 period, imports increased by 16.3%, with a compound annual growth rate of 5.2%.

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

From 2017 to 2020, imports in value terms were characterised by a broad spread across markets. Russia accounted for 16.6% of imports, Germany for 11.9%, and Turkey for 11.1%. Together, these three countries represented 39.6% of total import flows.

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

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