Bulgaria - Economy
How is the economy of Bulgaria? Based on the information we have, Bulgaria has a upper-middle-income EU economy; currency pegged to the euro with accession pending; joined Schengen area as of March 2024; global events and internal political turmoil triggered export slump and stalled reforms; EU structural funds contributing to investment recovery; skilled labor shortage driven by emigration and aging population. Key agricultural products in this country include: wheat, maize, sunflower seeds, milk, barley, rapeseed, potatoes, grapes, tomatoes, chicken (2022).
More about the economy of Bulgaria
| Labor force | 3.103 million (2023 est.) |
|---|---|
| Industrial production growth rate | 0.91% (2023 est.) |
| Industries | electricity, gas, water; food, beverages, tobacco; machinery and equipment, automotive parts, base metals, chemical products, coke, refined petroleum, nuclear fuel; outsourcing centers |
| Population below poverty line | 20.6% (2022 est.) |
| Taxes and other revenues | 21.8% (of GDP) (2022 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | leva (BGN) per US dollar - |
| Exchange rates 2023 | 1.809 (2023 est.) |
| Exchange rates 2022 | 1.86 (2022 est.) |
| Exchange rates 2021 | 1.654 (2021 est.) |
| Exchange rates 2020 | 1.716 (2020 est.) |
| Exchange rates 2019 | 1.747 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $14.277 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $46.334 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $40.989 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $39.188 billion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | -$248.13 million (2023 est.) |
| Current account balance 2022 | -$591.65 million (2022 est.) |
| Current account balance 2021 | -$1.516 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 30.3% of GDP (2022 est.) |
| Budget | |
| Revenues | $33.1 billion (2022 est.) |
| Expenditures | $35.619 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 2.44% of GDP (2023 est.) |
| Remittances 2022 | 2.25% of GDP (2022 est.) |
| Remittances 2021 | 2.35% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2% (2021 est.) |
| Highest 10% | 29.9% (2021 est.) |
| Average household expenditures | |
| On food | 19.1% of household expenditures (2022 est.) |
| On alcohol and tobacco | 5.3% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $58.79 billion (2023 est.) |
| Imports 2022 | $60.252 billion (2022 est.) |
| Imports 2021 | $50.048 billion (2021 est.) |
| Imports (partners) | Germany 10%, Russia 10%, Turkey 9%, Romania 7%, Greece 6% (2022) |
| Comodities Imports force | crude petroleum, natural gas, copper ore, cars, packaged medicine (2022) |
| Exports | |
| Imports 2023 | $58.79 billion (2023 est.) |
| Imports 2022 | $60.252 billion (2022 est.) |
| Imports 2021 | $50.048 billion (2021 est.) |
| Exports (partners) | Germany 13%, Romania 13%, Italy 7%, Turkey 6%, Greece 6% (2022) |
| Comodities Exports force | refined petroleum, natural gas, garments, wheat, refined copper (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $214.061 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $210.181 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $202.24 billion (2021 est.) |
| GDP (official exchange rate) | $101.584 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $33,300 (2023 est.) |
| Real GDP per capita 2022 | $32,500 (2022 est.) |
| Real GDP per capita 2021 | $29,400 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 3% (2023 est.) |
| Industry | 25.4% (2023 est.) |
| Services | 59.3% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 59.8% (2023 est.) |
| Government consumption | 18.2% (2023 est.) |
| Investment in fixed capital | 17.3% (2023 est.) |
| Investment in inventories | 1.5% (2023 est.) |
| Exports of goods and services | 60.9% (2023 est.) |
| Imports of goods and services | -57.7% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 4.3% (2023 est.) |
| Unemployment rate 2022 | 4.27% (2022 est.) |
| Unemployment rate 2021 | 5.27% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 12% (2023 est.) |
| Male | 11.8% (2023 est.) |
| Female | 12.2% (2023 est.) |
All Important Facts about Bulgaria
Want to know more about Bulgaria? Check all different factbooks for Bulgaria below.
