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 110.6% of GDP (World Bank, latest data available). Bulgaria mainly exports refined and unrefined copper, petroleum oils, medicaments and wheat; while imports are led by copper ores, petroleum oils, medicaments, motor cars and telephones.
The country’s main trading partners in 2020 were Germany (16%), Romania (9.1%), Italy (6.9%), Greece (6.6%), and Turkey (6.4%); whereas imports came chiefly from Germany (12.1%), Romania (7.3%), Turkey (7.1%) Italy (7.1%), and Russia (6.1%).
According to the latest figures from WTO, in 2020 exports of goods declined by 4.3%, at USD 31.9 billion, with imports decreasing at a faster pace (-6.9%), totalling USD 35 billion. The country has a structural trade deficit; however, it is a net service exporter: the country exported USD 8.1 billion worth of services, importing only USD 4.7 billion in 2020. The World Bank estimates that in the same year Bulgaria’s trade balance was positive by 1.47% of GDP. Preliminary data by the National Statistical Institute show that in the first eleven months of 2021 the total value of exported goods amounted to BGN 61,992.4 million, which is 23.3% more than the same period of the previous year, while the total value of imported goods added up to BGN 69,356.5 million and grew by 26.3%.
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) | 3.4 | 3.3 | 4.0 | 4.1 | 3.8 |
Volume of imports of goods and services (Annual % change) | 4.5 | 4.6 | 4.4 | 5.6 | 1.2 |
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) |
2020 |
Germany | 16.0% |
Romania | 9.1% |
Italy | 6.9% |
Greece | 6.6% |
Türkiye | 6.4% |
France | 3.8% |
Belgium | 3.5% |
China | 3.3% |
Netherlands | 2.6% |
Poland | 2.5% |
Spain | 2.4% |
United Kingdom | 2.4% |
Czech Republic | 2.3% |
Serbia | 2.1% |
United States | 2.0% |
Austria | 1.9% |
Hungary | 1.7% |
North Macedonia | 1.6% |
Russia | 1.5% |
Slovakia | 1.0% |
See More Countries | 54.9% |
Main Suppliers (% of Imports) |
2020 |
Germany | 12.1% |
Romania | 7.3% |
Türkiye | 7.1% |
Italy | 7.1% |
Russia | 6.1% |
China | 5.1% |
Greece | 4.9% |
Netherlands | 4.0% |
Hungary | 3.9% |
Poland | 3.7% |
France | 2.9% |
Austria | 2.7% |
Czech Republic | 2.7% |
Serbia | 2.0% |
Spain | 1.9% |
Belgium | 1.9% |
Ukraine | 1.9% |
Georgia | 1.5% |
Slovakia | 1.4% |
United States | 1.3% |
See More Countries | 60.3% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. 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: January 2023
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