Bulgarian Economy
Economy - overview: 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 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): $128.6 billion (2014 est.)
GDP (official exchange rate): $55.84 billion (2014 est.)
GDP - real growth rate: 1.7% (2014 est.)
GDP - per capita (PPP): $17,900 (2014 est.)
GDP - composition by sector: agriculture: 4.9%
industry: 31.2%
services: 63.9% (2014 est.)
Labor force: 2.981 million (2014 est.)
Labor force - by occupation: agriculture: 6.7%
industry: 30.2%
services: 63.1% (2013)
Unemployment rate: 11.5% (2014 est.)
Household income or consumption by percentage share: lowest 10%: 2%
highest 10%: 35.2% (2007)
Investment (gross fixed): 28.6% of GDP (2009 est.)
Budget: revenues: $19.62 billion
expenditures: $21.25 billion (2014 est.)
Public debt: 25.3% of GDP (2014 est.)
Inflation rate (consumer prices): -1.4% (2014 est.)
Central bank discount rate: 0.03% (31 December 2014)
Commercial bank prime lending rate: 7.56% (31 December 2014 est.)
Agriculture - products: vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock
Industries: electricity, gas, water; food, beverages, tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel
Industrial production growth rate: 3.5% (2014 est.)
Electricity - production: 47.21 billion kWh (2014 est.)
Electricity - consumption: 28.5 billion kWh (2013 est.)
Electricity - exports: 6.2 billion kWh (2013 est.)
Electricity - imports: 3.351 billion kWh (2013 est.)
Oil - production: 1,400 bbl/day (2013 est.)
Oil - consumption: 124,000 bbl/day (2008 est.)
Oil - exports: 0 bbl/day (2012 est.)
Oil - imports: 124,700 bbl/day (2010 est.)
Oil - proved reserves: 15 million bbl (1 January 2014 est.)
Natural gas - production: 283 million cu m (2013 est.)
Natural gas - consumption: 2.813 billion cu m (2013 est.)
Natural gas - exports: 0 cu m (2013 est.)
Natural gas - imports: 2.569 billion cu m (2013 est.)
Natural gas - proved reserves: 5.663 billion cu m (1 January 2014 est.)
Current account balance: $25 million (2014 est.)
Exports: $29.25 billion (2014 est.)
Exports - commodities: clothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partners: Germany 12.3%, Italy 9.1%, Turkey 8.9%, Romania 8.1%, Greece 6.8%, France 4.4%, Belgium 4.2% (2014)
Imports: $33.56 billion (2014 est.)
Imports - commodities: machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Imports - partners: Russia 14.5%, Germany 12.4%, Italy 7.2%, Romania 6.9%, Turkey 5.6%, Greece 5.2%, Spain 5% (2014)
Reserves of foreign exchange and gold: $20.27 billion (31 December 2014 est.)
Debt - external: $54.04 billion (31 December 2014 est.)
Stock of direct foreign investment - at home: $52.75 billion (31 December 2014 est.)
Stock of direct foreign investment - abroad: $2.599 billion (31 December 2014 est.)
Exchange rates: leva (BGN) per US dollar - 1.465 (2014 est.), 1.4736 (2013 est.), 1.52 (2012 est.), 1.4053 (2011 est.), 1.4774 (2010 est.)
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Update: This page was last updated on 10 November 2015
Sources: 1. CIA, The World Factbook, https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html
2. DIBNC Experts Team