About Bulgaria and Key Financial Statistics
About Bulgaria and Key Financial Statistics
Overview of Economy:
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, and has been slow to recover in the years since. 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.
Gross Domestic Product (In USD):
$129.1 billion (2014 est.)
$126.9 billion (2013 est.)
$125.6 billion (2012 est.)
Composition of Gross Domestic Product:
% Agricuture: 5.3
% Industry: 27.2
% Services: 67.6
Composition of Labor Force by Occupation:
% Agriculture: 6.7
% Industry: 30.2
% Services: 63.1
Per Capita Income:
$17,900 (2014 est.)
$17,600 (2013 est.)
$17,400 (2012 est.)
Exports:
$27.91 billion (2014 est.)
$28.2 billion (2013 est.)
Key Export Commodities:
clothing, footwear, iron and steel, machinery and equipment, fuels
Export Partners:
Germany 12.3%, Italy 9.1%, Turkey 8.9%, Romania 8.1%, Greece 6.8%, France 4.4%, Belgium 4.2% (2014)
Imports:
$31.6 billion (2014 est.)
$32.03 billion (2013 est.)
Key Import Commodities:
machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Import Partners:
Russia 14.5%, Germany 12.4%, Italy 7.2%, Romania 6.9%, Turkey 5.6%, Greece 5.2%, Spain 5% (2014)
Inflation Rate (Consumer Price Index):
-1.6% (2014 est.)
0.4% (2013 est.)
Exchange Rate to USD:
leva (BGN) per US dollar -
1.4742 (2014 est.)
1.4742 (2013 est.)
1.52 (2012 est.)
1.4053 (2011 est.)
1.4774 (2010 est.)
Unemployment Rate:
11.2% (2014 est.)
11.3% (2013 est.)
S&P Rating:
Standard & Poor's Ratings:
AAA: The best quality borrowers, reliable and stable
AA: Quality borrowers, a bit higher risk than AAA
A: Economic situation can affect finance
BBB: Medium class borrowers, which are satisfactory at the moment
BB: More prone to changes in the economy
B: Financial situation varies noticeably
CCC: An obligor rated currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments.
Ref 2012-2014: CIA World Factbook, Wikipedia, PWC, EY, Standard & Poors ratings