Roundwood coniferous market in Bulgaria

Earlier Report Observations

In 2018, the market volume for coniferous roundwood in Bulgaria reached 3.4 million m³, driven by recovering demand from domestic processing plants and exports to neighboring countries. Over the next two years, however, the market contracted to 2.8 million m³ by 2020. This decline was linked to a massive bark beetle infestation that left around 400 thousand m³ of infected wood, as well as the closure of major production facilities such as the paper mill in Stamboliyski due to falling global demand for wood chips and panels.

The market showed moderate recovery in 2021-2022, rising to 2.9 million m³ in 2022. This growth was primarily supported by a government ban on exports of fire-damaged coniferous and broadleaf wood with a diameter over 4 cm, which sharply reduced outbound shipments. Concurrently, negative factors persisted: political and regulatory failures that fueled timber speculation, along with the impact of the war in Ukraine, which disrupted trade flows and dampened worldwide demand.

In 2023, market volume dropped to 2.3 million m³. The main drivers were an ongoing shortage of wood and pellets, caused by factory idling and high raw material prices, as well as a shift in consumer preferences toward alternative heating methods, which reduced demand for firewood.

Production coniferous roundwood in Bulgaria

In kind, 2017-2020, K m³

Top producers of coniferous roundwood, 2017-2020

World map of production of coniferous roundwood, 2017-2020

Bulgaria's roundwood coniferous production declined for the second year in a row. In 2020, the country produced 2,836 thousand cubic meters, marking a modest 7.9% decrease from the previous year. Looking at the 2017-2020 period, production fell by 11.5%, with an average annual decline of 4.0%. The highest production level was in 2018 at 3,474 thousand cubic meters, which saw an 8.4% increase. The sharpest drop occurred in 2019, with an 11.3% decrease.

Annual dynamics of production in Bulgaria in kind, 2017-2020, K m³

In value, 2017-2020, M $ US

Bulgaria's roundwood coniferous production value also declined for the second consecutive year. In 2020, output was valued at 221.6 million US dollars, representing a 6.7% year-over-year decrease. Over the 2017-2020 period, production value decreased by 2.1%, with an average annual decline of 0.7%. The peak value was recorded in 2018 at 253.0 million US dollars, which saw an 11.8% increase.

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

Exports coniferous roundwood from Bulgaria

Exports in kind, K m³

Bulgaria's roundwood coniferous exports declined for the third consecutive year. In 2020, exports totaled 58.9 thousand cubic meters, showing a moderate 4.5% year-over-year drop. Between 2017 and 2020, exports decreased by 54.8%, equating to an average annual decline of 23.2%.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, K m³

From 2017 to 2020, Greece, Romania, and Turkey were the key export destinations for roundwood coniferous in volume terms. Greece accounted for 68.2% of exports, Romania for 11.7%, and Turkey for 10.0%. Together, these three countries represented 89.9% of Bulgaria's 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

Bulgaria's roundwood coniferous export value declined for the second consecutive year. In 2020, exports were recorded at 4,606 thousand US dollars, marking a 3.2% decrease from the previous year. Between 2017 and 2020, export value decreased by 49.9%, with an average annual decline of 20.6%. The highest value was in 2018 at 9,286 thousand US dollars, which saw a 1.0% increase. The sharpest drop occurred in 2019, with a 48.8% decrease.

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

From 2017 to 2020, Greece, Romania, and Turkey were the main destinations for Bulgaria's roundwood coniferous exports in value terms. Greece accounted for 60.6% of export value, Romania for 15.0%, and Turkey for 13.3%. Together, these three countries represented 88.9% of total export value.

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

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

Imports coniferous roundwood to Bulgaria

Imports in kind, K m³

Bulgaria's roundwood coniferous imports saw a sharp decline in 2020, totaling 4.1 thousand cubic meters, which represents a 30.0% drop compared to 2019. Over the 2017-2020 period, imports decreased by 29.6%, with an average annual decline of 11.0%. The highest import volume was in 2019 at 5.8 thousand cubic meters, which saw a 1.4% increase.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, K m³

Throughout 2017-2020, Greece dominated Bulgaria's roundwood coniferous imports in volume terms, accounting for 83.6% of total flows. Other markets played a less significant role.

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

Bulgaria's roundwood coniferous import value declined for the third consecutive year. In 2020, imports totaled 2.8 thousand US dollars, representing a sharp 39.7% reduction compared to 2019. Over the 2017-2020 period, import value decreased by 61.3%, with an average annual decline of 27.1%.

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

From 2017 to 2020, Greece and Romania were the key partners for Bulgaria's roundwood coniferous imports in value terms, together accounting for 86.9% of total flows. Other partners made up the remainder.

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

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