Bulgaria: Tobacco Market 2022

Tobacco Market Size in Bulgaria

In 2021, the Bulgarian tobacco market increased by 21% to $X, rising for the fourth consecutive year after two years of decline. Overall, consumption faced a deep slump. Tobacco consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Tobacco Production in Bulgaria

In value terms, tobacco production dropped modestly to $X in 2021 estimated in export price. In general, production showed a sharp shrinkage. The most prominent rate of growth was recorded in 2013 when the production volume increased by 15%. As a result, production reached the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Tobacco Exports

Exports from Bulgaria

Tobacco exports from Bulgaria shrank sharply to X tons in 2021, dropping by -25.6% compared with the year before. Over the period under review, exports, however, posted strong growth. The pace of growth appeared the most rapid in 2013 when exports increased by 1,210% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, tobacco exports dropped significantly to $X in 2021. In general, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 944% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ukraine (X tons) was the main destination for tobacco exports from Bulgaria, accounting for a 78% share of total exports. Moreover, tobacco exports to Ukraine exceeded the volume sent to the second major destination, Hungary (X tons), ninefold. Greece (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Ukraine totaled -16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (+118.9% per year) and Greece (-4.0% per year).

In value terms, Ukraine ($X), Greece ($X) and Russia ($X) appeared to be the largest markets for tobacco exported from Bulgaria worldwide, together comprising 80% of total exports. Hungary, Iraq and Latvia lagged somewhat behind, together comprising a further 8.2%.

In terms of the main countries of destination, Hungary, with a CAGR of +117.0%, 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 tobacco export price stood at $X per ton in 2021, waning by -32.9% against the previous year. In general, the export price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2020 when the average export price increased by 29%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Greece ($X per ton), while the average price for exports to Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Greece (+31.4%), while the prices for the other major destinations experienced mixed trend patterns.

Tobacco Imports

Imports into Bulgaria

Tobacco imports into Bulgaria contracted sharply to X tons in 2021, with a decrease of -20.3% on the previous year's figure. In general, imports saw a slight setback. The most prominent rate of growth was recorded in 2018 with an increase of 95% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, tobacco imports surged to $X in 2021. Overall, imports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 340% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Greece (X tons) constituted the largest tobacco supplier to Bulgaria, with a 67% share of total imports. Moreover, tobacco imports from Greece exceeded the figures recorded by the second-largest supplier, Poland (X tons), fourfold. Romania (X tons) ranked third in terms of total imports with a 5.4% share.

From 2012 to 2021, the average annual growth rate of volume from Greece amounted to +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+44.8% per year) and Romania (+81.8% per year).

In value terms, Greece ($X) constituted the largest supplier of tobacco to Bulgaria, comprising 78% of total imports. The second position in the ranking was taken by Poland ($X), with an 8.8% share of total imports. It was followed by Romania, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from Greece totaled +66.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+51.4% per year) and Romania (+60.6% per year).

Import Prices by Country

The average tobacco import price stood at $X per ton in 2021, increasing by 47% against the previous year. Over the period under review, the import price showed a significant increase. The pace of growth was the most pronounced in 2018 when the average import price increased by 126%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Romania ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+13.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Kaynak: IndexBox Platformu