Rivets market in Bulgaria

Earlier Report Observations

The market for iron and steel rivets in Bulgaria grew to 426 t in 2019, as the entry of new players and regulatory adjustments easing market access boosted import volumes. This expansion was interrupted in 2020 when the COVID-19 pandemic caused supply chain disruptions, reducing total market volume to 395 t.

A strong recovery followed in 2021, with the market reaching 478 t as post-pandemic investments in modernization and the launch of new large production facilities came online. The market then contracted to 411 t in 2022, pressured by rising global raw material prices which affected costs and demand.

In 2023, the market volume surged significantly to 538 t, driven by a more than threefold increase in domestic production, marking a new phase in the market's supply structure.

Production rivets in Bulgaria

In value, 2017-2020, K $ US

In 2020, Bulgaria's rivet output was valued at 133.2 thousand US dollars, marking a year-over-year decline of 19.5%.

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

In kind, 2017-2020, kg

Bulgaria's rivet production volume declined for the second consecutive year. In 2020, the country produced 59,589 kilograms of rivets, representing a significant year-over-year loss of 22.2%. Between 2019 and 2020, production decreased by 38.4%, which translates to an annualized rate of 14.9%.

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

Exports rivets from Bulgaria

Exports in kind, t

The market showed an unstable trend during this period. Export volumes reached their lowest point in 2018 at 3.5 tonnes and peaked in 2017, with a fourfold difference between these years. In 2020, Bulgaria exported 13.6 tonnes of rivets, a 166.2% increase compared to the previous year. The largest decline occurred in 2018, at 75.3%.

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

From 2017 to 2020, the export partner landscape for rivets in kind was diverse. Germany accounted for 18.8% of exports in kind, Hungary for 14.9%, and Switzerland for 12.5%, together making up 46.2% of total flows. The remaining 53.8% was distributed among many other countries.

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

In 2020, Bulgaria exported 72 thousand US dollars worth of rivets, a 65.0% increase compared to the previous year. Over the period from 2017 to 2020, exports grew by 143.9%, with a compound annual growth rate of 34.6%. The largest decline was recorded in 2019, at 5.5%.

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

From 2017 to 2020, the three largest markets for rivet exports in value terms were Switzerland, Romania, and Germany, which together accounted for 55.5% of total 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 rivets to Bulgaria

Imports in kind, t

After two years of growth, Bulgaria's rivet import volume declined. In 2020, imports stood at 349.1 tonnes, reflecting a slight drop of 1.6% compared to the previous year. Between 2017 and 2020, imports increased by 43.5%, equating to an annualized rate of 12.8%. The maximum value was recorded in 2019 at 354.8 tonnes, while the largest increase occurred in 2018, at 22.1%.

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

From 2017 to 2020, Germany, China, and Italy were the leading sources for rivet imports in kind to Bulgaria. Germany accounted for 61.5% of imports in kind, China for 9.8%, and Italy for 9.2%, with a combined share of 80.4% of total flows.

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

After two years of increase, Bulgaria's imported rivet volumes declined. In 2020, the country imported 2,224 thousand US dollars worth of rivets, which is 3.4% less than in 2019. Over the period from 2017 to 2020, imports rose by 37.9%, with a compound annual growth rate of 11.3%. The maximum value was recorded in 2019 at 2,301 thousand US dollars, and the largest increase occurred in 2018, at 28.3%.

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

From 2017 to 2020, Germany, Spain, and Italy played the leading roles in rivet imports to Bulgaria in value terms. Germany accounted for 67.3% of imports in value terms, Spain for 8.2%, and Italy for 6.6%, jointly taking 82.1% of total flows.

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

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