unbekannter Gast

Bulgaria: Economy#

Bulgaria, 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.

Economic Facts#

GDP (purchasing power parity)$143.1 billion (2016 est.)
$138.9 billion (2015 est.)
$134.9 billion (2014 est.)
note: data are in 2016 dollars
GDP (official exchange rate)$50.45 billion (2015 est.)
GDP - real growth rate3% (2016 est.)
3% (2015 est.)
1.5% (2014 est.)
GDP - per capita (PPP)$20,100 (2016 est.)
$19,400 (2015 est.)
$18,700 (2014 est.)
note: data are in 2016 dollars
Gross national saving22.8% of GDP (2016 est.)
22.7% of GDP (2015 est.)
22.3% of GDP (2014 est.)
GDP - composition, by end usehousehold consumption: 60.8%
government consumption: 15.9%
investment in fixed capital: 20.4%
investment in inventories: 0.1%
exports of goods and services: 69.1%
imports of goods and services: -66.3% (2016 est.)
GDP - composition, by sector of originagriculture: 5.1%
industry: 27.5%
services: 67.5% (2016 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 rate2.8% (2016 est.)
Labor force2.525 million
note: number of employed persons (2016 est.)
Labor force - by occupationagriculture: 7%
industry: 30.1%
services: 62.9% (2014)
Unemployment rate8.9% (2016 est.)
10.1% (2015 est.)
Population below poverty line21.8% (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: $18.44 billion
expenditures: $19.18 billion (2016 est.)
Taxes and other revenues36.6% of GDP (2016 est.)
Budget surplus (+) or deficit (-)-1.5% of GDP (2016 est.)
Public debt26.7% of GDP (2016 est.)
26.7% of GDP (2015 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 f
Fiscal yearcalendar year
Inflation rate (consumer prices)-0.7% (2016 est.)
-0.1% (2015 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 rate6.6% (31 December 2016 est.)
7.48% (31 December 2015 est.)
Stock of narrow money$20.38 billion (31 December 2016 est.)
$20.09 billion (31 December 2015 est.)
Stock of broad money$41.19 billion (31 December 2016 est.)
$41.28 billion (31 December 2015 est.)
Stock of domestic credit$28.96 billion (31 December 2016 est.)
$29.83 billion (31 December 2015 est.)
Market value of publicly traded shares$4.797 billion (31 December 2015 est.)
$5.45 billion (31 December 2014 est.)
$6.666 billion (31 December 2012 est.)
Current account balance$400 million (2016 est.)
$676 million (2015 est.)
Exports$26.1 billion (2016 est.)
$24.62 billion (2015 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$28.47 billion (2016 est.)
$26.74 billion (2015 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$25.12 billion (31 December 2016 est.)
$22.09 billion (31 December 2015 est.)
Debt - external$42.42 billion (31 December 2016 est.)
$42.5 billion (31 December 2015 est.)
Stock of direct foreign investment - at home$46.39 billion (31 December 2016 est.)
$44.29 billion (31 December 2015 est.)
Stock of direct foreign investment - abroad$4.79 billion (31 December 2016 est.)
$4.49 billion (31 December 2015 est.)
Exchange ratesleva (BGN) per US dollar -
1.802 (2016 est.)
1.7644 (2015 est.)
1.7644 (2014 est.)
1.4742 (2013 est.)
1.52 (2012 est.)