GFmag Online Readers Survey 2012
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 bankBulgarian National Bank
International ReservesUS$ 17.623 billion (Source: IMF; Data updated: November 2011)
Gross Domestic Product - GDPUS$ 52.996 billion (2010 estimate)
GDP (Purchasing Power Parity)100.773 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
5.4%4.1%4.5%5%6.6%6.2%6.3%6.2%
2008200920102011*
6%-5.5%0.2%3%

*Estimate

GDP per capita - current pricesUS$ 7,073 (2010 estimate)
GDP per capita - PPP$13,449 International Dollars (2010 estimate)
GDP (PPP) - share of world total
19801990200020102015**
0.29%0.26%0.12%0.12%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 November 2010)

Inflation
2008200920102011*
12%(2008)2.5%3%4.8%

*Estimate

Unemployment rate
2008200920102011*
5.7%6.9%10.3%(2009)8%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
19.8%16.1%15.6%18%19.7%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
3.5%3%-0.9%-4.9%-4.2%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: BBB/Stable/A-3

Moody's rating: Baa3

Moody's outlook: POS

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
US$21.793 billionUS$8.858 billionUS$7.103 billion
Largest companies in BulgariaN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -0.8 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-1.5% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

50% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.14%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.19%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$19.33 billion f.o.b. (2010 estimate)
Export commoditiesclothing, footwear, iron and steel, machinery and equipment, fuels
Total importsUS$35.3 billion f.o.b. (2008)
Import commoditiesmachinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Exports - major partnersTurkey 11.5%, Germany 10.3%, Italy 10.2%, Greece 9.1%, Belgium 6.2%, Romania 4.9% (2007)
Imports - major partnersRussia 12.3%, Germany 12.3%, Italy 8.7%, Ukraine 7.2%, Turkey 6.9%, Greece 6.2%, Romania 4.5%, Austria 4.3% (2007)
FDI inflows
200820092010
US$9,855 millionUS$3,351 million(2009)US$2,170 million(2009)
FDI outflows
200820092010
US$755 millionUS$-119 millionUS$238 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$7 millionUS$2 million(2009)US$9 million(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(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 2010

(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 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 51 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 43 out of 183 countries(2009)

Registering property: 62 out of 183 countries

Paying Taxes: 85 out of 183 countries

Getting credit: 6 out of 183 countries

Protecting investors: 44 out of 183 countries

Trading across border: 108 out of 183 countries

Enforcing Contracts: 87 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		74

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 60 Score: 64.9 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC+2
Total area 110,879 km2 (2006)
CapitalSofia (2009)
Currencyleva (BGN) (2009)
Government typeparliamentary democracy (2009)
LanguagesBulgarian 84.5%, Turkish 9.6%, Roma 4.1%, other and unspecified 1.8% (2001 census)
ReligionsBulgarian Orthodox 82.6%, Muslim 12.2%, other Christian 1.2%, other 4% (2001 census)
Total population
1980199020002010*2015**
8.86 million8.72 million8.15 million7.53 million7.34 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
37.1%62.1%68.9%71.4%
Population median age41.0 years (2006)
Population growth rate-0.5% (2009)
Life expectancy73 years (2007)
Adult literacy98% (2000/2007)
% of population living on less than $2 a day7.33% (2011)
Inequality of wealth distribution (Gini index)

45.3 (2007)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:2 (2010)

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

Total telephone subscribers as % of population

170.59% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population46.23% (Data were released in 2011 and refer to 2010)
Cost of living 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)

6.6564 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

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 (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (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 (National, 2009)

WORLD'S BEST FOREIGN EXCHANGE PROVIDERS

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