Bulgària: Visió econòmica i política
Since joining the European Union, Bulgaria has experienced considerable growth in trade, despite a large trade imbalance and recurring deficits. The country is very open to foreign trade, which represents 121% of its GDP (World Bank, latest data available). Bulgaria mainly exports mineral fuel, lubricants and related materials (21.7%), manufactured goods classified chiefly by material (16%), machinery and transport equipment (15.6%), and food and live animals (13,8%); while imports are led by mineral fuel, lubricants and related materials (28.9%), manufactured goods classified chiefly by material (17.4%), machinery and transport equipment (17.3%), and crude materials except for fuel (15.5% - data NSI 2022).
According to preliminary figures by the National Statistical Institute, Bulgaria’s main export destinations in 2022 (Jan-Nov) were Germany (14.2%), Romania (10.1%), Italy (7.5%), Greece (6.4%), and Turkey (5.8%); whereas imports came chiefly from Russia (11.7%), Germany (10.7%), Turkey (8.4%), Romania (6.9%), Greece (6%), Italy and Russia (5.8% each).
According to the latest figures from WTO, in 2021 exports of goods rose by 28.5%, at USD 41 billion, with imports increasing at a faster pace (+31.8%), totalling USD 46.1 billion. The country has a structural trade deficit; however, it is a net service exporter: it exported USD 10.9 billion worth of services, importing only USD 5.6 billion in 2021. The World Bank estimates that in the same year, Bulgaria’s trade balance was positive by 1.7% of GDP. Preliminary data by the National Statistical Institute show that in the first eleven months of 2022, the total value of exported goods amounted to BGN 87.4 billion, which is 40.2% more than the same period of the previous year, while the total value of imported goods added up to BGN 99.9 billion and grew by 44.1%.
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 34,184 | 37,856 | 37,663 | 35,038 | 46,195 |
Exports of Goods (million USD) | 31,438 | 33,617 | 33,340 | 31,907 | 41,018 |
Imports of Services (million USD) | 5,688 | 5,968 | 5,947 | 4,735 | 5,656 |
Exports of Services (million USD) | 8,802 | 10,838 | 11,402 | 8,116 | 10,971 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 129.7 | 128.9 | 124.6 | 110.3 | 121.0 |
Trade Balance (million USD) | -867 | -3,201 | -3,256 | -2,256 | -3,379 |
Trade Balance (Including Service) (million USD) | 2,609 | 1,612 | 2,199 | 1,344 | 1,446 |
Imports of Goods and Services (Annual % Change) | 7.4 | 5.8 | 5.2 | -4.3 | 10.9 |
Exports of Goods and Services (Annual % Change) | 5.8 | 1.7 | 4.0 | -10.4 | 11.0 |
Imports of Goods and Services (in % of GDP) | 62.7 | 63.2 | 60.7 | 54.2 | 59.6 |
Exports of Goods and Services (in % of GDP) | 67.0 | 65.7 | 63.9 | 56.1 | 61.3 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 6.9 | 2.6 | 3.4 | 3.6 | 3.5 |
Volume of imports of goods and services (Annual % change) | 9.4 | 3.4 | 4.6 | 6.0 | 1.7 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
For further information, please consult the website of the Ministry of Economy of Bulgaria.
Main Customers (% of Exports) |
2022 |
Germany | 14.0% |
Romania | 10.1% |
Italy | 7.5% |
Greece | 6.5% |
Türkiye | 5.9% |
See More Countries | 56.1% |
Main Suppliers (% of Imports) |
2022 |
Russia | 10.8% |
Germany | 10.8% |
Türkiye | 8.4% |
Romania | 6.9% |
Italy | 6.0% |
See More Countries | 57.2% |
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: September 2023