Hainan, China
BULGARIA
COUNTRIES A-Z
ECONOMIC DETAILS OF BULGARIA

ECONOMY OVERVIEW
Bulgaria, a former communist country that entered the EU on 1 January 2007, has experienced macroeconomic stability and strong growth since a major economic downturn in 1996 led to the fall of the then socialist government. As a result, the government became committed to economic reform and responsible fiscal planning. Minerals, including coal, copper, and zinc, play an important role in industry. In 1997, macroeconomic stability was reinforced by the imposition of a fixed exchange rate of the lev against the German D-mark - the currency is now fixed against the euro - and the negotiation of an IMF standby agreement. Low inflation and steady progress on structural reforms improved the business environment; Bulgaria has averaged 5.1% growth since 2000 and has begun to attract significant amounts of foreign direct investment. Corruption in the public administration, a weak judiciary, and the presence of organized crime remain the largest challenges for Bulgaria. 
GDP - purchasing power parity:
$78.68 billion (2006 est.) 

GDP - real growth rate:
6.3% (2006 est.) 


GDP - per capita:
$10,700 (2006 est.) 

GDP - by sector (agriculture):
agriculture: 13.6% 

GDP - by sector (industry):
industry: 32.1% 

GDP - by sector (services):
services: 54.3% (2006 est.) 


Export Partners:
Turkey 10.8%, Italy 10.1%, Germany 9.9%, Greece 8.2%, Belgium 6.4% (2006) 

Import Partners:
Russia 16.8%, Germany 12.4%, Italy 8.7%, Turkey 6.4%, China 5.4%, Greece 5.1% (2006) 

Export Commodities:
clothing, footwear, iron and steel, machinery and equipment, fuels 

Import Commodities:
machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials 
Exports Volume:
$15.5 billion f.o.b. (2006 est.) 

Imports Volume:
$23.8 billion f.o.b. (2006 est.) 


 
Labour Force:
3.51 million (30 September 2006 est.) 

Unemployment Rate:
9.6% (2006 est.) 

Population below poverty line:
14.1% (2003 est.) 

Inflation Rate:
6.5% (2006 est.) 

Investment (gross fixed):
23.8% of GDP (3rd qtr. 2006 est.) 

Public Debt:
25.6% of GDP (2006 est.) 


Agriculture Products:
vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock 

Industries:
electricity, gas, water; food, beverages, tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel 

Industrial Production Growth Rate:
11.3% (Third Quarter, 2006 est.) 


 
Electricity - production:
45.7 billion kWh (2006) 

Electricity - consumption:
37.4 billion kWh (2006) 

Electricity - exports:
7.8 billion kWh (2006) 

Electricity - imports:
0 kWh (2006) 


 
Oil - production:
3,000 bbl/day (2005 est.) 

Oil - consumption:
131,400 bbl/day (2005 est.) 

Oil - exports:
51,000 bbl/day (2005 est.) 

Oil - imports:
128,400 bbl/day (2005 est.) 


 
Natural gas - production:
407,000 cu m (2005 est.) 

Natural gas - consumption:
 

Natural gas - exports:
 

Natural gas - imports:
 


Current Account Balance:
-$5.1 billion (2006 est.) 

Currency Code:
lev (BGL) 



 
 
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