Bulgaria: Striking A Balance
Investors looking to build in Bulgaria will find government incentives and low-cost labor, but also a skills shortage.
Bulgaria GDP and Economic Data
Country Report 2017 - Includes Bulgaria real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Bulgaria economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of Bulgaria best banks and safest banks are also available.
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International Reserves
USD 23.8 billion (2016)
International Monetary Fund (IMF), data retrieved January 2017
Gross Domestic Product - GDP
USD 52.7 billion (2017, estimate)
GDP (Purchasing Power Parity)
Intl$ 150.3 billion (2017, estimate)
Real GDP growth
| 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 |
| 6.8% | 7.7% | 5.7% | -4.2% | 0.1% | 1.6% | 0.2% |
| 2013 | 2014 | 2015 | 2016* | 2017* | ||
| 1.3% | 1.6% | 3% | 3% | 2.8% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2017* |
| 0.31% | 0.28% | 0.12% | 0.13% | 0.1% |
*Estimate
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GDP - composition by sector
- agriculture: 5.1%
- industry: 27.5%
- services: 67.5%
(2016 estimate)
Inflation
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 0.4% | -1.6% | -1.1% | -1.6% | 0.6% |
*Estimate
Unemployment rate
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 13.0% | 11.5% | 9.2% | 8.2% | 7.1% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| 17.2% | 26.4% | 26.3% | 29.7% | 26.3% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2013 | 2014 | 2015 | 2016* | 2017* |
| -1.8% | -3.6% | -2.9% | -0.8% | -1.2% |
*Estimate
Government bond ratings
Standard & Poor's: BB+
Moody's: Baa2
Standard & Poor's / Moody's (Updated January 2017)
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Market value of publicly traded shares
| 2013 | 2014 | 2015 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
0.03% (2017 estimate)
Exports as percent of GDP (Exports of goods and services)
64.1% (2015)
Shares in world total merchandising export
0.2% (2015)
Shares in world total commercial services export
0.2% (2015)
Export commodities
Clothing, footwear, iron and steel, machinery and equipment, fuels
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Import commodities
Machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Exports - major partners
Germany 12.5%, Italy 9.2%, Turkey 8.5%, Romania 8.2%, Greece 6.5%, France 4.2% (2015)
Imports - major partners
Germany 12.9%, Russia 12%, Italy 7.6%, Romania 6.8%, Turkey 5.7%, Greece 4.8%, Spain 4.8% (2015)
FDI inflows
| 2013 | 2014 | 2015 |
| USD 1,837 million | USD 1,777 million | USD 1,774 million |
FDI outflows
| 2013 | 2014 | 2015 |
| USD 187 million | USD 613 million | USD 86 million |
Value of cross-border M&A, by country of purchaser
| 2012 | 2013 | 2014 | 2015 |
| N/A | USD -0.1 million | USD 10.5 million | N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking: 39 out of 190 countries (2016)
Subcategories:
Starting a business: 82 out of 190 countries
Enforcing Contracts: 49 out of 190 countries
Registering Property: 60 out of 190 countries
Getting credit: 32 out of 190 countries
Protecting investors: 13 out of 190 countries
Trading across border: 21 out of 190 countries
Paying Taxes: 83 out of 190 countries
Dealing with Construction Permits: 48 out of 190 countries
Getting Electricity: 104 out of 190 countries
Resolving Insolvency: 48 out of 190 countries
Source
Global competitiveness ranking
50 out of 138 countries
(2016-2017)
Index of Economic Freedom
Ranking: 60 / Score: 65.86 (Moderately free) (2017) (100=totally free 0=totally repressed)
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Languages
Bulgarian (official) 76.8%, Turkish 8.2%, Roma 3.8%, other 0.7%, unspecified 10.5% (2011 est.)
Religions
Eastern Orthodox 59.4%, Muslim 7.8%, other (including Catholic, Protestant, Armenian Apostolic Orthodox, and Jewish) 1.7%, none 3.7%, unspecified 27.4% (2011 est.)
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 8.718 million | 8.15 million | 7.505 million | 7.114 million | 6.917 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 37% | 62% | 69% | 74% |
Literacy
Total population: 98.4%
Male: 98.7%
Female: 98.1% (2015 est.)
(age 15 and over can read and write)
% of population living on less than $3.10 a day
1.7% (2012)
Inequality of wealth distribution (Gini index)
36.0 (2012)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Political Rights: 2
Civil Liberties: 2 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 23.27% Mobile 129.27% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)