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 eurozone accession pending; declining energy prices helping lower inflation rate; 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, barley, milk, rapeseed, grapes, potatoes, triticale, tomatoes (2023).More about the economy of Bulgaria
| Labor force | 3.124 million (2024 est.) |
|---|---|
| Industrial production growth rate | 1.9% (2024 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 | 20.5% (of GDP) (2023 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | leva (BGN) per US dollar - |
| Exchange rates 2024 | 1.808 (2024 est.) |
| 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.) |
| Debt - external | |
| Debt - external 2022 | $14.277 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $43.698 billion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $46.334 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $40.989 billion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$2.014 billion (2024 est.) |
| Current account balance 2023 | -$894.86 million (2023 est.) |
| Current account balance 2022 | -$2.43 billion (2022 est.) |
| Public debt | |
| Public debt 2023 | 30.1% of GDP (2023 est.) |
| Budget | |
| Revenues | $33.1 billion (2022 est.) |
| Expenditures | $35.619 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 2.4% of GDP (2024 est.) |
| Remittances 2023 | 2.2% of GDP (2023 est.) |
| Remittances 2022 | 2.3% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 2.1% (2022 est.) |
| Highest 10% | 30.1% (2022 est.) |
| Average household expenditures | |
| On food | 20.7% of household expenditures (2023 est.) |
| On alcohol and tobacco | 4.8% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $60.029 billion (2024 est.) |
| Imports 2023 | $59.158 billion (2023 est.) |
| Imports 2022 | $62.261 billion (2022 est.) |
| Imports (partners) | Germany 12%, Turkey 8%, Romania 8%, Russia 7%, Italy 6% (2023) |
| Comodities Imports force | crude petroleum, copper ore, cars, packaged medicine, electricity (2023) |
| Exports | |
| Imports 2024 | $60.029 billion (2024 est.) |
| Imports 2023 | $59.158 billion (2023 est.) |
| Imports 2022 | $62.261 billion (2022 est.) |
| Exports (partners) | Germany 14%, Romania 11%, Italy 8%, Greece 6%, Turkey 5% (2023) |
| Comodities Exports force | refined petroleum, garments, refined copper, wheat, natural gas (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $219.645 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $213.64 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $209.683 billion (2022 est.) |
| GDP (official exchange rate) | $112.212 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $34,100 (2024 est.) |
| Real GDP per capita 2023 | $33,100 (2023 est.) |
| Real GDP per capita 2022 | $32,400 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 2.1% (2024 est.) |
| Industry | 22.5% (2024 est.) |
| Services | 62.6% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 57.6% (2024 est.) |
| Government consumption | 19.7% (2024 est.) |
| Investment in fixed capital | 17.9% (2024 est.) |
| Investment in inventories | 2.5% (2024 est.) |
| Exports of goods and services | 55.8% (2024 est.) |
| Imports of goods and services | -53.5% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 4.2% (2024 est.) |
| Unemployment rate 2023 | 4.4% (2023 est.) |
| Unemployment rate 2022 | 4.3% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 12.1% (2024 est.) |
| Male | 12.4% (2024 est.) |
| Female | 11.8% (2024 est.) |
All Important Facts about Bulgaria
Want to know more about Bulgaria? Check all different factbooks for Bulgaria below.
