Bulgaria, although not a major player in the global tapioca starch market, made its presence felt as both an exporter and importer of this versatile product in 2021. Let’s delve into Bulgaria’s tapioca starch trade dynamics, exploring its exports, imports, and the prevailing tariff landscape.
In 2021, Bulgaria exported a total of $1.69k worth of tapioca starch, securing the 83rd position among the world’s largest exporters. While tapioca starch ranked low at the 4166th spot on Bulgaria’s list of exported products, its significance should not be overlooked.
Poland emerged as the primary destination for Bulgaria’s tapioca starch exports, accounting for the majority of shipments valued at $1.6k. Additionally, Montenegro received $74 worth of tapioca starch, while the Netherlands imported $17 worth of the product.
Bulgaria witnessed notable growth in its export markets for tapioca starch between 2020 and 2021, with Poland, Montenegro, and the Netherlands leading the way. The increase in exports to Poland ($1.6k), Montenegro ($74), and the Netherlands ($17) indicates a rising demand for Bulgarian tapioca starch in these countries.
In 2021, Bulgaria became the 104th largest importer of tapioca starch globally, with imports totaling $30.4k. While tapioca starch ranked lower down the list at 4105th among imported products in Bulgaria, the country demonstrated its reliance on imports to meet domestic demand.
Bulgaria primarily sourced tapioca starch imports from the Netherlands, Greece, Italy, Vietnam, and Thailand. Notably, the Netherlands held the largest share of imports, amounting to $14.8k. Greece followed with imports valued at $8.87k, while Italy, Vietnam, and Thailand accounted for $2.4k, $1.94k, and $1.85k, respectively.
Between 2020 and 2021, Bulgaria experienced noteworthy growth in its import market for tapioca starch, with significant increases from the Netherlands ($8.29k), Greece ($5.36k), and Italy ($2.4k). These developments indicate Bulgaria’s increasing dependence on these countries as key tapioca starch suppliers.
Importing Tapioca Starch from Vietnam: A Reliable Partnership
Vietnam has emerged as a prominent supplier of tapioca starch to the Bulgaria market. In 2021, the total value of tapioca starch imports from Vietnam amounted to an impressive $1,942. This significant figure indicates that Vietnam’s tapioca starch holds a strong position in the market and is poised to maintain its presence in Bulgaria in the years to come. The reasons behind this sustained importation are primarily attributed to the product’s superior quality and competitive pricing.
Bulgaria benefits from Vietnam’s tapioca starch exports, which provide a dependable supply of this vital ingredient. The substantial import value from Vietnam underscores Bulgaria’s confidence in Vietnam as a trusted and preferred partner for fulfilling its tapioca starch requirements. With its consistent quality and competitive pricing, Vietnam’s tapioca starch has proven to be a reliable source that meets Bulgaria’s demand for this essential product.
As of 2017, Bulgaria faced an average tariff rate of 26.8% on tapioca starch imports. Notably, the countries imposing the highest import tariffs on tapioca starch were the Republic of the Congo, Cape Verde, Algeria, Western Sahara, and Gabon. These nations applied a Most Favoured Nation duty rate treatment of 47.9%, which posed a significant trade barrier for Bulgarian tapioca starch imports.
Bulgaria’s Impact on the Tapioca Starch Trade
Although Bulgaria’s role in the global tapioca starch trade may not be as substantial as some other nations, its position as both an exporter and importer showcases its active participation in the market. While Bulgaria exports tapioca starch primarily to Poland, Montenegro, and the Netherlands, it relies on imports from the Netherlands, Greece, Italy, Vietnam, and Thailand to meet domestic demand.
As Bulgaria continues to navigate the intricate tariff landscape, trade relations and market dynamics will shape the country’s future in the tapioca starch trade.