Flag of Bulgaria

Bulgaria Economy Profile 2014

Home > Factbook > Countries > Bulgaria

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 having 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)$104.6 billion (2013 est.)
$104.1 billion (2012 est.)
$103.3 billion (2011 est.)
note: data are in 2013 US dollars
GDP (official exchange rate)$53.7 billion (2013 est.)
GDP - real growth rate0.5% (2013 est.)
0.8% (2012 est.)
1.8% (2011 est.)
GDP - per capita (PPP)$14,400 (2013 est.)
$14,300 (2012 est.)
$14,100 (2011 est.)
note: data are in 2013 US dollars
Gross national saving23.5% of GDP (2013 est.)
22.5% of GDP (2012 est.)
22% of GDP (2011 est.)
GDP - composition, by end usehousehold consumption: 70.4%
government consumption: 7.9%
investment in fixed capital: 21.3%
investment in inventories: 2.5%
exports of goods and services: 69.7%
imports of goods and services: -71.8%
(2013 est.)
GDP - composition by sectoragriculture: 6.7%
industry: 30.3%
services: 63% (2013 est.)
Population below poverty line21.8% (2008)
Labor force2.551 million (2013 est.)
Labor force - by occupationagriculture: 7.1%
industry: 35.2%
services: 57.7% (2009)
Unemployment rate11.6% (2013 est.)
11.1% (2012 est.)
Unemployment, youth ages 15-24total: 28.1%
male: 29.5%
female: 26% (2012)
Household income or consumption by percentage sharelowest 10%: 2%
highest 10%: 35.2% (2007)
Distribution of family income - Gini index45.3 (2007)
26 (2001)
Budgetrevenues: $18.81 billion
expenditures: $20.12 billion (2013 est.)
Taxes and other revenues35% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-2.4% of GDP (2013 est.)
Public debt18.4% of GDP (2013 est.)
16.3% of GDP (2012 est.)
defined by the EU's Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities: currency and deposits, securities other than shares excluding financial derivatives, and loans; general government sector comprises the subsectors: central government, state government, local government, and social security funds
Inflation rate (consumer prices)1.5% (2013 est.)
3% (2012 est.)
Central bank discount rate$NA (31 December 2012 est.)
0.22% (31 December 2011 est.)
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 rate9.1% (31 December 2013 est.)
9.72% (31 December 2012 est.)
Stock of narrow money$17.55 billion (31 December 2013 est.)
$15.51 billion (31 December 2012 est.)
Stock of broad money$45.84 billion (31 December 2013 est.)
$41.53 billion (31 December 2012 est.)
Stock of domestic credit$37.6 billion (31 December 2013 est.)
$37.12 billion (31 December 2012 est.)
Market value of publicly traded shares$6.666 billion (31 December 2012 est.)
$8.253 billion (31 December 2011)
$7.276 billion (31 December 2010 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 rate1% (2013 est.)
Current Account Balance-$182.3 million (2013 est.)
-$669.5 million (2012 est.)
Exports$27.9 billion (2013 est.)
$26.7 billion (2012 est.)
Exports - commoditiesclothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partnersGermany 10.4%, Turkey 9.1%, Italy 8.7%, Romania 8.2%, Greece 7.3%, France 4% (2012)
Imports$32.88 billion (2013 est.)
$31.15 billion (2012 est.)
Imports - commoditiesmachinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Imports - partnersRussia 20.9%, Germany 11.3%, Italy 6.7%, Romania 6.6%, Greece 6.1%, Turkey 4.6%, Spain 4.5% (2012)
Reserves of foreign exchange and gold$20.69 billion (31 December 2013 est.)
$20.5 billion (31 December 2012 est.)
Debt - external$37.85 billion (31 December 2013 est.)
$36.52 billion (31 December 2012 est.)
Stock of direct foreign investment - at home$54.21 billion (31 December 2013 est.)
$52.21 billion (31 December 2012 est.)
Stock of direct foreign investment - abroad$1.939 billion (31 December 2013 est.)
$1.82 billion (31 December 2012 est.)
Exchange ratesleva (BGN) per US dollar -
1.478 (2013 est.)
1.5221 (2012 est.)
1.4774 (2010 est.)
1.404 (2009)
1.3171 (2008)
Fiscal yearcalendar year

Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of August 23, 2014