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Bulgaria Economy Profile 2016

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Economy - overviewBulgaria, a former communist country that entered the EU on 1 January 2007, averaged more than 6% annual growth from 2004 to 2008, driven by significant amounts of bank lending, consumption, and foreign direct investment.

Successive governments have demonstrated a commitment to economic reforms and responsible fiscal planning, but the global downturn sharply reduced domestic demand, exports, capital inflows, and industrial production. GDP contracted by 5.5% in 2009, and has been slow to recover in the years since.

Despite a favorable investment regime, including low, flat corporate income taxes, significant challenges remain. Corruption in public administration, a weak judiciary, and the presence of organized crime continue to hamper the country's investment climate and economic prospects.
GDP (purchasing power parity)$133.9 billion (2015 est.)
$130.3 billion (2014 est.)
$128.2 billion (2013 est.)
note: data are in 2015 US dollars
GDP (official exchange rate)$47.17 billion (2015 est.)
GDP - real growth rate3% (2015 est.)
1.5% (2014 est.)
1.3% (2013 est.)
GDP - per capita (PPP)$19,100 (2015 est.)
$18,500 (2014 est.)
$18,100 (2013 est.)
note: data are in 2015 US dollars
Gross national saving23.5% of GDP (2015 est.)
22.6% of GDP (2014 est.)
23.2% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 63%
government consumption: 16.2%
investment in fixed capital: 21.1%
investment in inventories: 0.1%
exports of goods and services: 66.7%
imports of goods and services: -67.1% (2015 est.)
GDP - composition by sectoragriculture: 5.2%
industry: 27.4%
services: 67.4% (2015 est.)
Population below poverty line21.8% (2014 est.)
Labor force2.535 million
note: number of employed persons (2015 est.)
Labor force - by occupationagriculture: 7%
industry: 30.1%
services: 62.9% (2014)
Unemployment rate10% (2015 est.)
10.7% (2014 est.)
Unemployment, youth ages 15-24total: 23.8%
male: 23.8%
female: 23.7% (2014 est.)
Household income or consumption by percentage sharelowest 10%: 2%
highest 10%: 35.2% (2007)
Distribution of family income - Gini index35.4 (2013)
31.2 (2005)
Budgetrevenues: $17.81 billion
expenditures: $19.14 billion (2015 est.)
Taxes and other revenues37.8% of GDP (2015 est.)
Budget surplus (+) or deficit (-)-2.8% of GDP (2015 est.)
Public debt26.4% of GDP (2015 est.)
26.4% of GDP (2014 est.)
note:: defined by the EU's Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities: currency and deposits, securities other than shares excluding financial derivatives, and loans; general government sector comprises the subsectors: central government, state government, local government, and social security funds
Inflation rate (consumer prices)-1.1% (2015 est.)
-1.6% (2014 est.)
Central bank discount rate0.01% (31 December 2015)
0.03% (31 December 2014)
note: Bulgarian National Bank (BNB) has had no independent monetary policy since the introduction of the Currency Board regime in 1997; this is BNB's base interest rate
Commercial bank prime lending rate7.5% (31 December 2015 est.)
8.28% (31 December 2014 est.)
Stock of narrow money$20.09 billion (31 December 2015 est.)
$17.38 billion (31 December 2014 est.)
Stock of broad money$41.32 billion (31 December 2015 est.)
$37.99 billion (31 December 2014 est.)
Stock of domestic credit$29.72 billion (31 December 2015 est.)
$29.08 billion (31 December 2014 est.)
Market value of publicly traded shares$4.797 billion (31 December 2015 est.)
$5.45 billion (31 December 2014)
$6.666 billion (31 December 2012 est.)
Agriculture - productsvegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock
Industrieselectricity, gas, water; food, beverages, tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel
Industrial production growth rate3.5% (2015 est.)
Current Account Balance$1.043 billion (2015 est.)
$658 million (2014 est.)
Exports$24.33 billion (2015 est.)
$27.91 billion (2014 est.)
Exports - commoditiesclothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partnersGermany 12.5%, Italy 9.2%, Turkey 8.5%, Romania 8.2%, Greece 6.5%, France 4.2% (2015)
Imports$27.66 billion (2015 est.)
$31.6 billion (2014 est.)
Imports - commoditiesmachinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Imports - partnersGermany 12.9%, Russia 12%, Italy 7.6%, Romania 6.8%, Turkey 5.7%, Greece 4.8%, Spain 4.8% (2015)
Reserves of foreign exchange and gold$22.75 billion (31 December 2015 est.)
$20.11 billion (31 December 2014 est.)
Debt - external$37.31 billion (31 December 2015 est.)
$43 billion (31 December 2014 est.)
Stock of direct foreign investment - at home$54.98 billion (31 December 2015 est.)
$52.78 billion (31 December 2014 est.)
Stock of direct foreign investment - abroad$3.26 billion (31 December 2015 est.)
$3.01 billion (31 December 2014 est.)
Exchange ratesleva (BGN) per US dollar -
1.79 (2015 est.)
1.61 (2014 est.)
1.4742 (2013 est.)
1.52 (2012 est.)
1.4053 (2011 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on October 8, 2016

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