Key Market Indicators
The Bulgarian jewelry export industry is on track to reach approximately €42 million by 2028, up from around €33 million in 2023. This growth represents a compound annual growth rate (CAGR) of 3.7%. Since 2010, the country's jewelry supply has surged by 11.2% annually. In 2023, Bulgaria ranked 17th globally, with Greece leading at the same figure of €33 million. Italy, the United Kingdom, and France held the second, third, and fourth positions, respectively. However, the domestic sales scene paints a different picture. Bulgarian jewelry sales are projected to decline to €12 million by 2028 from €12.9 million in 2023, marking a year-on-year decrease of 1%. Since 2013, the market has contracted by an average of 2.8% annually. In contrast, Bulgarian jewelry imports are experiencing robust growth. Imports are expected to soar to roughly €93 million by 2028, up from €53 million in 2023, reflecting an average annual growth rate of 8.7%. Since 2010, demand in Bulgaria has increased by 26.9% each year. In 2023, Bulgaria was ranked 18th in jewelry imports, with Greece ahead at €53 million. The United Kingdom, France, and Italy occupied the second, third, and fourth spots, respectively. Overall, while the export and import sectors show strong growth, the domestic sales market for jewelry in Bulgaria is facing a steady decline.
