Economy - overview:
Bulgaria, a former Communist country that entered the EU on 1 January 2007, experienced more than 6% growth from 1996 to 2008, driven by significant amounts of foreign direct investment. Successive governments have demonstrated a commitment to economic reforms and responsible fiscal planning, but the global downturn is reducing exports, capital inflows, and industrial production. GDP in 2009 contracted by approximately 5%, having averaged more than 6% growth in the preceding years, driven by significant amounts of foreign direct investment. Corruption in the public administration, a weak judiciary, and the presence of organized crime remain significant challenges.
GDP (purchasing power parity):
$90.54 billion (2009 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$44.78 billion (2009 est.)
GDP - real growth rate:
-4.8% (2009 est.)
GDP - per capita (PPP):
$12,600 (2009 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 7.5%
industry:
27.6%
services:
64.9% (2009 est.)
Labor force:
2.63 million (2009 est.)
Labor force - by occupation:
agriculture: 7.5%
industry:
35.5%
services:
57% (2007 est.)
Unemployment rate:
9.1% (2009 est.)
Population below poverty line:
14.1% (2003 est.)
Household income or consumption by percentage share:
lowest 10%: 3%
highest 10%:
25.5% (2007)
Distribution of family income - Gini index:
30.7 (2007)
Investment (gross fixed):
28.6% of GDP (2009 est.)
Budget:
revenues: $17.3 billion
expenditures:
$17.89 billion (2009 est.)
Public debt:
21.4% of GDP (2009 est.)
Inflation rate (consumer prices):
2.7% (2009 est.)
Central bank discount rate:
5.77% (31 December 2008)
Commercial bank prime lending rate:
10.86% (31 December 2008)
Stock of money:
$14.29 billion (31 December 2008)
Stock of quasi money:
$19.67 billion (31 December 2008)
Stock of domestic credit:
$32.04 billion (31 December 2008)
Market value of publicly traded shares:
$8.858 billion (31 December 2008)
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:
-14% (2009 est.)
Electricity - production:
40.25 billion kWh (2007 est.)
Electricity - consumption:
31.08 billion kWh (2007 est.)
Electricity - exports:
8.441 billion kWh (2008 est.)
Electricity - imports:
3.097 billion kWh (2008 est.)
Oil - production:
3,357 bbl/day (2008 est.)
Oil - consumption:
124,000 bbl/day (2008 est.)
Oil - exports:
76,570 bbl/day (2007 est.)
Oil - imports:
189,000 bbl/day (2007 est.)
Oil - proved reserves:
15 million bbl (1 January 2009 est.)
Natural gas - production:
300 million cu m (2008 est.)
Natural gas - consumption:
3.4 billion cu m (2008 est.)
Natural gas - exports:
0 cu m (2008 est.)
Natural gas - imports:
3.1 billion cu m (2008 est.)
Natural gas - proved reserves:
5.663 billion cu m (1 January 2009 est.)
Current account balance:
$-5.812 billion (2009 est.)
Exports:
$16.23 billion (2009 est.)
Exports - commodities:
clothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partners:
Greece 9.9%, Germany 9.2%, Turkey 8.9%, Italy 8.5%, Romania 7.2%, Belgium 5.9%, France 4.1% (2008)
Imports:
$23.27 billion (2009 est.)
Imports - commodities:
machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Imports - partners:
Russia 14.6%, Germany 11.8%, Italy 7.9%, Ukraine 7.3%, Romania 5.6%, Turkey 5.5%, Greece 5.4%, Austria 4.1% (2008)
Reserves of foreign exchange and gold:
$16.49 billion (31 December 2009 est.)
Debt - external:
$49.28 billion (31 December 2009 est.)
Stock of direct foreign investment - at home:
$47.31 billion (31 December 2009 est.)
Stock of direct foreign investment - abroad:
$1.392 billion (31 December 2009 est.)
Exchange rates:
leva (BGN) per US dollar - 1.4352 (2009), 1.3171 (2008), 1.4366 (2007), 1.5576 (2006), 1.5741 (2005)
NOTE: The information regarding Bulgaria on this page is re-published from the 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bulgaria Economy 2010 information contained here. All suggestions for corrections of any errors about Bulgaria Economy 2010 should be addressed to the CIA.
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This page was last modified 09-Feb-10