An Overview of the Economy
Bulgaria, a communist country which entered the EU on 1 January
2007, has stabilised and seen strong growth since the economic fall
in 1996. Since then, the government has prioritized economic
reform.
Low inflation and improved structural reforms have had a
significantly recuperative effect on the Bulgarian business
environment. The country has seen an average of 5.1% growth since
2000 which has attracted many foreign investments.
Bulgaria is expected to join the Euro zone between 2010 and
2012.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
86.3 |
| GDP (PPP) (CIA) (US$Billions) |
86.3 |
| GDP Growth (IMF) (%) |
6.2% |
| GDP Growth (CIA) (%) |
6.2% |
| GDP Per Capita (PPP) (IMF) (US$) |
11,302 |
| GDP Per Capita (PPP) (CIA) (US$) |
11,300 |
| GDP by Sector (%) |
Agriculture: 6.5%
Services: 61.4%
Industry: 32.3% |
| Inflation (%) |
7.6% |
| Population Below the Poverty Line (%) |
14.1% |
| Labour Force (Millions) |
2.59 |
| Labour Force by Occupation (%) |
Agriculture: 8.5%
Services: 57.9%
Industry: 33.6% |
| Unemployment (%) |
7.7% |
| Main Industries |
Electricity, gas, water, food, beverages, tobacco,
chemical products, machinery and equipment,
base metals, chemical products, coke, refined
petroleum, nuclear fuel. |
Source: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
20.0 |
24.7 |
27.3 |
31.7 |
39.6 |
| GDP Growth (%) |
5.0% |
6.6% |
6.3% |
6.3% |
6.2% |
| GDP Per Capita (US$) |
2,552 |
3,166 |
3,519 |
4,120 |
5,186 |
| GDP Per Capita (PPP) (US$) |
7,684 |
8,463 |
9,322 |
10,294 |
11,302 |
| Inflation (%) |
2% |
6% |
6% |
7.4% |
7.6% |
| Unemployment (%) |
18.0% |
14.3% |
12.7% |
11.5% |
7.7% |
| Mobile Phone Users |
1.054.000 |
2,597,500 |
2,597,500 |
6,245,000 |
8,253,000 |
| Internet Users |
585,000 |
630,000 |
630,000 |
1,591,700 |
1,870,000 |
Source: IMF, CIA World Factbook
Major Exports & Imports
Bulgaria's economy is undergoing sustained recovery, of which an
important aspect is trade with other countries. Successful
relations are integral to the accomplishment of a full reform.
Major Exports 2007
Clothing, footwear, iron and steel, machinery and equipment,
fuels.
Major Imports 2007
Machinery and equipment, metals and ores, chemicals and
plastics, fuels, minerals, raw materials.
| Export Partners 2007 |
% of total |
| Turkey |
11.6% |
| Italy |
10.1% |
| Germany |
9.6% |
| Greece |
8% |
| Belgium |
6.5% |
| France |
4.2% |
| import partners 2007 |
% of total |
| Germany |
14.8% |
| Italy |
10.5% |
| Turkey |
7.1% |
| Greece |
6.2% |
| China |
5% |
| France |
4.9% |
| Romania |
4.5% |
Source: CIA World Factbook
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