Bulgaria


Bulgaria Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in Bulgaria; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Bulgarian National Bank
International Reserves US$ 17.216 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 50.786 billion (2011 estimate)
GDP (Purchasing Power Parity) 103.15 billion of International dollars (2011 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
4.1% 4.5% 5% 6.6% 6.2% 6.3% 6.2% 6.2%
2009 2010 2011 2012*
-5.5% 0.4% 1.7% 0.8%

*Estimate

GDP per capita - current prices US$ 6,903 (2010 estimate)
GDP per capita - PPP $14,021 International Dollars (2010 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.29% 0.26% 0.12% 0.13% 0.12%

**Forecast

GDP - composition by sector
  • agriculture: 5.2% 
  • industry: 30.6% 
  • services: 64.2% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
2.5%(2008) 3% 3.4% 2.1%

*Estimate

Unemployment rate
2009 2010 2011 2012*
8.2% 11.5% 12.5%(2009) 12.5%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
15.5% 15.6% 16.7% 17% 21.3%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
2.9% -0.9% -3.9% -2.1% -1.9%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
US$7.103 billion US$7.276 billion US$8.253 billion
Largest companies in Bulgaria N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ 1.1 billion (2011 estimate)(After 2008)
Current account balance by percentage of GDP 2.1% of GDP (2011 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

57.8% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.15%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.18% (2011)(2007)

(Data were released in 2012)

Total exports US$27.67 billion (2012 estimate) 
Export commodities clothing, footwear, iron and steel, machinery and equipment, fuels
Total imports US$30.32 billion (2012 estimate) 
Import commodities machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Exports - major partners Germany 12.2%, Romania 9.8%, Italy 8.5%, Turkey 8.2%, Greece 7%, Belgium 5.1%, France 4.3% (2011)
Imports - major partners Russia 18%, Germany 11%, Italy 7.3%, Romania 7%, Greece 5.7%, Turkey 4.6%, Spain 4.3%, Ukraine 4% (2011)
FDI inflows
2009 2010 2011
US$3,385 million US$1,601 million(2009) US$1,864 million(2009)
FDI outflows
2009 2010 2011
US$-95 million US$229 million US$190 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$7 million US$2 million(2009) US$19 million(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 66 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 57 out of 185 countries(2009)

Enforcing Contracts: 86 out of 185 countries

Registering Property: 68 out of 185 countries

Getting credit: 40 out of 185 countries

Protecting investors: 49 out of 185 countries

Trading across border: 93 out of 185 countries

Paying Taxes: 91 out of 185 countries

Dealing with Construction Permits: 123 out of 185 countries

Getting Electricity: 128 out of 185 countries

Resolving Insolvency: 93 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
62

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 61 Score: 64.7 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC+2
Total area 110,879 km2 (2006)
Capital Sofia (2009)
Currency leva (BGN) (2009)
Government type parliamentary democracy (2009)
Languages Bulgarian 84.5%, Turkish 9.6%, Roma 4.1%, other and unspecified 1.8% (2001 census)
Religions Bulgarian Orthodox 82.6%, Muslim 12.2%, other Christian 1.2%, other 4% (2001 census)
Total population
1980 1990 2000 2012* 2017**
8.86 million 8.72 million 8.15 million 7.29 million 7.08 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
37.1% 62.1% 68.9% 73.1%
Population median age 42 years (2010)
Population growth rate -0.8% (2011)
Life expectancy 73 years (2010)
Adult literacy 98% (2005/2010)
% of population living on less than $2 a day 7.33% (2011)
Inequality of wealth distribution (Gini index)

28.19 (2007)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:2 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

171.71% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 51% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Sofia: 169th (2011)

CO2 emissions
(Metric tons of CO2 per capita)

5.675 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST TRADE FINANCE BANKS & PROVIDERS

2013:
  • COUNTRY WINNERS UniCredit Bulbank (National, 2013)

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2012)
2011:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
  • COUNTRY WINNERS / Best Consumer Internet Banks Raiffeisenbank (Mark Carney, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (Global, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS UniCredit Bulbank (National, 2012)
2011:
  • COUNTRY WINNERS DSK bank (National, 2011)
2010:
  • COUNTRY WINNERS UniCredit Bulbank (National, 2010)
2009:
  • COUNTRY WINNERS Raiffeisenbank Bulgaria (2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

2013:
  • COUNTRY WINNERS Citi (National, 2013)
2012:
  • COUNTRY WINNERS Citi (National, 2012)
2011:
  • COUNTRY WINNERS Citi (National, 2011)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE