Umbrellas market in Bulgaria

Earlier Report Observations

Between 2018 and 2021, the physical volume of the umbrella market in Bulgaria first expanded from 1.7 million pieces to a peak of 2.0 million pieces in 2020, before contracting to 1.3 million pieces in 2021. In value terms, the market remained around $12-13 million annually through 2020 but jumped to nearly $16 million in 2021, indicating a notable increase in average prices.

After 2021, full market size figures are not available, but trade data shows distinct trends. Import volumes declined from 1.7 million pieces in 2022 to 1.3 million pieces in 2024, while their value rose from $7.2 million to $7.4 million, pointing to significant per-unit cost inflation. Exports grew more robustly, from 121,000 pieces worth $3.5 million in 2022 to 334,000 pieces valued at $6.7 million in 2024.

The market in 2023 and 2024 was influenced by factors specific to the beach segment. In summer 2023, prices for beach umbrellas and sunbeds remained at pre-pandemic levels or were double those of prior seasons in some areas, driven by inflation and conditions tied to beach concession contracts. For the 2024 season, an increase in concession fees for seaside beaches led to expected further price rises. The Tourism Ministry indexed payable fees to prior-year inflation and introduced contract clauses that incentivize lower prices for beach equipment, where umbrella and sunbed prices carry a 40% weight in selecting beach operators.

Production umbrellas in Bulgaria

In value, 2017-2020, K $ US

Bulgaria's umbrella production value declined for the second consecutive year. In 2020, output was valued at 8 153 K $ US, down 11.0% from the previous year. Production decreased by 15.5% between 2017 and 2020, equivalent to an annualized rate of 5.4%. The highest value was recorded in 2018 at 11 054 K $ US. The largest decline occurred in 2019, falling 17.1%, while the largest increase was in 2018, rising 14.6%.

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

In kind, 2017-2020, K unit

After two years of growth, Bulgaria's umbrella production volume declined. In 2020, 177.3 K units were produced, marking a significant decrease of 15.0% compared to 2019. Over the 2017-2020 period, production increased by 13.8%, with a compound annual growth rate of 4.4%. The peak was in 2019 at 208.6 K units, which also saw the largest increase of 27.3%.

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

Exports umbrellas from Bulgaria

Exports in kind, K unit

Bulgaria's umbrella exports declined for the third consecutive year. In 2020, exports were recorded at 79 K units, a 36.3% decrease from 2019. Between 2017 and 2020, exports fell by 65%, with a compound annual growth rate of -29.5%.

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

From 2017 to 2020, Romania, Germany, and Greece were the largest buyers of Bulgarian umbrellas in volume terms, accounting for 25.8%, 18.2%, and 18.0% of exports, respectively. Together, they formed 61.9% of total exports.

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

After two years of decline, Bulgaria's umbrella export value increased. In 2020, exports totaled 1 620 K $ US, a substantial gain of 20.0% compared to 2019. However, between 2017 and 2020, exports decreased by 41.9%, equivalent to an annualized rate of 16.5%. The lowest value was in 2019 at 1 351 K $ US, which also saw the largest decline of 41.2%.

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

From 2017 to 2020, Greece, Italy, and Albania were the key partners for Bulgarian umbrella exports in value terms, accounting for 43.9%, 10.6%, and 7.6% of exports, respectively. Together, they made up 62.1% 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 umbrellas to Bulgaria

Imports in kind, K unit

Bulgaria's umbrella import volume increased for the third consecutive year. In 2020, imports amounted to 1 909 K units, a measured gain of 8.7% compared to 2019. Over the 2017-2020 period, imports rose by 42.7%, with a compound annual growth rate of 12.6%.

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

From 2017 to 2020, China and Greece were the main sources for Bulgaria's umbrella imports in volume terms, jointly accounting for 84.7% of total imports, with other partners making up the remainder.

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 umbrella import value increased for the third consecutive year. In 2020, imports stood at 5 452 K $ US, up 27.8% from 2019. Between 2017 and 2020, imports grew by 92.4%, equivalent to an annualized rate of 24.4%.

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

From 2017 to 2020, China, Austria, and Ukraine were the principal sources for Bulgaria's umbrella imports in value terms, accounting for 42.1%, 10.5%, and 10.5% of imports, respectively. Together, they represented 63.0% of total import value.

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

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