Bulgaria: Optical Radiation Instruments Market 2024

Optical Radiation Instruments Market Size in Bulgaria

The Bulgarian optical radiation instruments market dropped notably to $X in 2023, which is down by X% against the previous year. Overall, consumption showed a abrupt shrinkage. Optical radiation instruments consumption peaked at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Optical Radiation Instruments Production in Bulgaria

In value terms, optical radiation instruments production dropped dramatically to $X in 2023 estimated in export price. In general, production continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. Optical radiation instruments production peaked at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Optical Radiation Instruments Exports

Exports from Bulgaria

In 2023, shipments abroad of instruments using optical radiations increased by X% to X units, rising for the sixth consecutive year after two years of decline. In general, exports showed a significant expansion. The growth pace was the most rapid in 2018 with an increase of X%. The exports peaked in 2023 and are likely to see gradual growth in the near future.

In value terms, optical radiation instruments exports amounted to $X in 2023. Over the period under review, exports showed a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by X%. The exports peaked in 2023 and are likely to see steady growth in the near future.

Exports by Country

Iraq (X units), Turkey (X units) and Romania (X units) were the main destinations of optical radiation instruments exports from Bulgaria, together accounting for X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for optical radiation instruments exported from Bulgaria were Denmark ($X), Romania ($X) and Serbia ($X), together accounting for X% of total exports.

Among the main countries of destination, Denmark, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average optical radiation instruments export price stood at $X per unit in 2023, shrinking by X% against the previous year. In general, the export price showed a noticeable shrinkage. The pace of growth was the most pronounced in 2022 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit, and then contracted markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Denmark ($X per unit), while the average price for exports to Iraq ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (X%), while the prices for the other major destinations experienced more modest paces of growth.

Optical Radiation Instruments Imports

Imports into Bulgaria

In 2023, approx. X units of instruments using optical radiations were imported into Bulgaria; reducing by X% against 2022. In general, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports reached the peak of X units, and then contracted significantly in the following year.

In value terms, optical radiation instruments imports rose to $X in 2023. Overall, imports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are likely to continue growth in the immediate term.

Imports by Country

Germany (X units), Hong Kong SAR (X units) and France (X units) were the main suppliers of optical radiation instruments imports to Bulgaria, together comprising X% of total imports. The Netherlands, Austria, Costa Rica, Belgium, China, Italy, the UK, Spain, Finland and Greece lagged somewhat behind, together comprising a further X%.

From 2020 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest optical radiation instruments suppliers to Bulgaria were the Netherlands ($X), Germany ($X) and Austria ($X), with a combined X% share of total imports. Belgium, France, Hong Kong SAR, the UK, China, Greece, Italy, Finland, Costa Rica and Spain lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average optical radiation instruments import price stood at $X per unit in 2023, rising by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced curtailment. The import price peaked at $X per unit in 2020; however, from 2021 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the Netherlands ($X per unit), while the price for Costa Rica ($X per unit) was amongst the lowest.

From 2020 to 2023, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform