Bulgaria: Salt Market 2024

Salt Market Size in Bulgaria

In 2022, the Bulgarian salt market increased by X% to $X, rising for the second consecutive year after three years of decline. Over the period under review, consumption saw a relatively flat trend pattern. Salt consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Salt Production in Bulgaria

In value terms, salt production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a slight slump. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

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Salt Exports

Exports from Bulgaria

In 2022, salt exports from Bulgaria surged to X tons, increasing by X% against 2021 figures. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, salt exports soared to $X in 2022. Overall, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Ukraine (X tons) was the main destination for salt exports from Bulgaria, with a X% share of total exports. Moreover, salt exports to Ukraine exceeded the volume sent to the second major destination, Romania (X tons), fourfold. The third position in this ranking was held by Greece (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ukraine amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Greece (X% per year).

In value terms, Ukraine ($X) emerged as the key foreign market for salt and pure sodium chloride exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by Romania ($X), with an X% share of total exports. It was followed by Greece, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Ukraine amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Greece (X% per year).

Export Prices by Country

The average salt export price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced a decline.

Salt Imports

Imports into Bulgaria

Salt imports into Bulgaria fell slightly to X tons in 2022, leveling off at 2021. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, salt imports totaled $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Egypt (X tons) constituted the largest salt supplier to Bulgaria, accounting for a X% share of total imports. Moreover, salt imports from Egypt exceeded the figures recorded by the second-largest supplier, Turkey (X tons), sevenfold. The third position in this ranking was held by Tunisia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Egypt was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Tunisia (X% per year).

In value terms, the largest salt suppliers to Bulgaria were Egypt ($X), Turkey ($X) and Greece ($X), together comprising X% of total imports. Tunisia and Bosnia and Herzegovina lagged somewhat behind, together comprising a further X%.

Bosnia and Herzegovina, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average salt import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bosnia and Herzegovina ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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