Home Technology The hardware market in our country is growing slower than GDP

The hardware market in our country is growing slower than GDP

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The hardware market in our country is growing slower than GDP

Hardware supplies for the domestic market in Bulgaria amounted to 243.8 million euros in the first quarter of 2023 (photo: CC0 Public Domain)

For the second consecutive year pthe azar of hardware in Bulgaria is below GDP growth, according to the data of CBN Pannoff, Stoytcheff & Co. for the first quarter of 2023. The analysis examines koi products increase the revolutions and which sink.

“Absolutely ignored by the governing and central media, a golden industry for the state budget and the future of high school students with the magical acronym IT continues at a slow pace the slowdown in hardware shipments in the first quarter of 2023,” commented the CBN in a blog post.

Influenced by world trends and left behind in the agenda, hardware supplies for the domestic market in Bulgaria reached 243.8 million euros in the first quarter. The growth (EUR, nominal) of 8% for the second year in a row is below the increase in the country’s GDP, and in percentage terms it is the lowest value for the last three years.

“For a country where over 70% of the population cannot operate word processing or spreadsheet software, and over 50% cannot copy or move files, this is not good news,” notes the CBN.

Who made it?

Shipments of seven hardware products continued their upward performance in value despite the difficult situation. Growth for the first 90 days of the year was marked by smartphones, disk storage, multifunction devices, printers, server and PC assembly platforms, telecom hardware and UPS.

The growth in the value of smartphone shipments against the background of a minus 12% drop in units is particularly impressive. It’s no surprise that the average shipping price of a smartphone has hit an all-time high of $322.

Which ones sank?

In six of the hardware product lines monitored by the CBN, shipments for the first quarter of 2023 were down from the same period last year. Sales of notebook computers, monitors, motherboards, keyboards, flash drives, parts and accessories are down in value.

Most dramatically and critically for the market, the notebook computer business is sinking. In addition to a sharp decline in numbers, this hardware segment saw a historic decline in value.

Distributors and retailers

Against the background of these results, the turnover index of ICT distribution companies in the country is decreasing. Retail sales maintained good results for the quarter, but there is no doubt that the decline is going to this segment as well, CBN concluded.

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