Overview of the Market for Saw Logs And Veneer Logs (Non-Coniferous) in Bulgaria
Market Overview
For the third consecutive year, the Bulgarian market for saw logs and veneer logs (non-coniferous) recorded growth in sales value, which increased by 
% to $ in 2019. Overall, consumption, however, showed a perceptible curtailment. The growth pace was the most rapid in 2017 when the market value increased by % year-to-year. Over the period under review, the market hit record highs at $ in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.
In value terms, production of saw logs and veneer logs (non-coniferous) expanded sharply to $ in 2019 estimated in export prices. Over the period under review, production, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Production peaked at $ in 2008; however, from 2009 to 2019, production remained at a lower figure.
% to $ in 2019. Overall, consumption, however, showed a perceptible curtailment. The growth pace was the most rapid in 2017 when the market value increased by % year-to-year. Over the period under review, the market hit record highs at $ in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.In value terms, production of saw logs and veneer logs (non-coniferous) expanded sharply to $
in 2019 estimated in export prices. Over the period under review, production, however, continues to indicate a slight descent. The most prominent rate of growth was recorded in 2017 with an increase of % year-to-year. Production peaked at $ in 2008; however, from 2009 to 2019, production remained at a lower figure.Consumption
Consumption of saw logs and veneer logs (non-coniferous) in Bulgaria expanded slightly to cubic meters in 2019, growing by % against 2018. Over the period under review, consumption, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2010 when the consumption volume increased by % year-to-year. Consumption peaked at cubic meters in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.
The revenue of the market for saw logs and veneer logs (non-coniferous) in Bulgaria was estimated at $ in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a perceptible descent. The growth pace was the most rapid in 2017 with an increase of % against the previous year. Over the period under review, the market attained the maximum level at $ in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.
cubic meters in 2019, growing by % against 2018. Over the period under review, consumption, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2010 when the consumption volume increased by % year-to-year. Consumption peaked at cubic meters in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.The revenue of the market for saw logs and veneer logs (non-coniferous) in Bulgaria was estimated at $
in 2019, growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a perceptible descent. The growth pace was the most rapid in 2017 with an increase of % against the previous year. Over the period under review, the market attained the maximum level at $ in 2008; however, from 2009 to 2019, consumption stood at a somewhat lower figure.Market Forecast
Depressed by shrinking demand for saw logs and veneer logs (non-coniferous) in Bulgaria, the market is expected to continue its downward consumption trend over the next decade. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from 2019 to , which is projected to depress the market volume to cubic meters by the end of .
% for the period from 2019 to , which is projected to depress the market volume to cubic meters by the end of .Market Structure
Over the period under review, imports of saw logs and veneer logs (non-coniferous) in Bulgaria were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for saw logs and veneer logs (non-coniferous).
Trade Balance
Bulgaria remains a net importer of saw logs and veneer logs (non-coniferous); in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of cubic meters, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
cubic meters, which was equal to $-. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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