Page last updated on February 14, 2013
Economy - overview:
Bulgaria, a former Communist country that entered the EU on 1 January 2007, averaged more than 6% annual growth from 2004 to 2008, driven by significant amounts of bank lending, consumption, and foreign direct investment. Successive governments have demonstrated a commitment to economic reforms and responsible fiscal planning, but the global downturn sharply reduced domestic demand, exports, capital inflows, and industrial production. GDP contracted by 5.5% in 2009, stagnated in 2010, despite a significant recovery in exports, grew 1.7% in 2011, and approximately 1% in 2012. Despite having a favorable investment regime, including low, flat corporate income taxes, significant challenges remain. Corruption in public administration, a weak judiciary, and the presence of organized crime continue to hamper the country's investment climate and economic prospects.
GDP (purchasing power parity):
$103.7 billion (2012 est.)
country comparison to the world: 72
$102.7 billion (2011 est.)
$101 billion (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$50.81 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
1% (2012 est.)
country comparison to the world: 161
1.7% (2011 est.)
0.4% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$14,200 (2012 est.)
country comparison to the world: 91
$14,000 (2011 est.)
$13,500 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 5.6%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
31.2%
services:
63.2% (2012 est.)
Labor force:
2.451 million (2012 est.)
country comparison to the world: 112
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 7.1%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
35.2%
services:
57.7% (2009)
Unemployment rate:
9.9% (2012 est.)
country comparison to the world: 107
9.6% (2011 est.)
[see also:
Unemployment rate country ranks ]
Population below poverty line:
21.8% (2008)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: 2%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
35.2% (2007)
Distribution of family income - Gini index:
45.3 (2007)
country comparison to the world: 40
26 (2001)
[see also:
Distribution of family income - Gini index country ranks ]
Investment (gross fixed):
20.4% of GDP (2012 est.)
country comparison to the world: 92
[see also: Investment (gross fixed) country ranks ]
Budget:
revenues: $17.19 billion
[see also: Budget revenues country ranks ]
expenditures:
$17.93 billion (2012 est.)
Taxes and other revenues:
33.8% of GDP (2012 est.)
country comparison to the world: 77
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-1.4% of GDP (2012 est.)
country comparison to the world: 63
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
17.9% of GDP (2012 est.)
country comparison to the world: 132
16.3% of GDP (2011 est.)
defined by the EU's Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year in the following categories of government liabilities: currency and deposits, securities other than shares excluding financial derivatives, and loans; general government sector comprises the subsectors: central government, state government, local government, and social security funds
[see also:
Public debt country ranks ]
Inflation rate (consumer prices):
2.4% (2012 est.)
country comparison to the world: 45
4.2% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Central bank discount rate:
0.03% (31 December 2012 est.)
country comparison to the world: 143
0.22% (31 December 2011 est.)
note:
Bulgarian National Bank (BNB) has had no independent monetary policy since the introduction of the Currency Board regime in 1997; this is BNB's base interest rate
[see also:
Central bank discount rate country ranks ]
Commercial bank prime lending rate:
9.4% (31 December 2012 est.)
country comparison to the world: 82
10.63% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$13.91 billion (31 December 2011 est.)
country comparison to the world: 70
$12.49 billion (31 December 2010 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$37.68 billion (31 December 2011 est.)
country comparison to the world: 74
$34.46 billion (31 December 2010 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$37.11 billion (31 December 2012 est.)
country comparison to the world: 68
$35.56 billion (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$8.253 billion (31 December 2011)
country comparison to the world: 75
$7.276 billion (31 December 2010)
$7.103 billion (31 December 2009)
[see also:
Market value of publicly traded shares country ranks ]
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:
5.9% (2011 est.)
country comparison to the world: 55
[see also: Industrial production growth rate country ranks ]
Current account balance:
$542.8 million (2012 est.)
country comparison to the world: 45
$502.2 million (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$27.67 billion (2012 est.)
country comparison to the world: 68
$28.12 billion (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
clothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partners:
Germany 12.2%, Romania 9.7%, Italy 8.7%, Turkey 8.1%, Greece 7.2%, Belgium 5.2%, France 4.3% (2011)
Imports:
$30.32 billion (2012 est.)
country comparison to the world: 65
