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EconomyEconomy - 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, and grew approximately 2.2% in 2011. 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) World Ranking: 70
$102.3 billion (2011 est.)
$100.7 billion (2010 est.) $100.3 billion (2009 est.) Note Data are in 2011 US dollars Gdp (official exchange rate)
$53.51 billion (2011 est.)
Gdp - real growth rate World Ranking: 164
1.7% (2011 est.)
0.4% (2010 est.) -5.5% (2009 est.) Gdp - per capita (ppp) World Ranking: 92
$13,800 (2011 est.)
$13,400 (2010 est.) $13,300 (2009 est.) Note Data are in 2011 US dollars Gdp - composition by sector
Agriculture 5.2%
Industry 30.6% Services 64.2% (2011 est.) Labor force World Ranking: 112
2.465 million (2011 est.)
Labor force - by occupation
Agriculture 7.1%
Industry 35.2% Services 57.7% (2009) Unemployment rate World Ranking: 107
9.6% (2011 est.)
9.5% (2010 est.) Population below poverty line
21.8% (2008)
Household income or consumption by percentage share
Lowest 10% 2%
Highest 10% 35.2% (2007) Distribution of family income - gini index World Ranking: 40
45.3 (2007)
26 (2001) Investment (gross fixed) World Ranking: 83
20.9% of GDP (2011 est.)
Budget
Revenues $18.06 billion
Expenditures $19.19 billion (2011 est.) Taxes and other revenues World Ranking: 71
33.8% of GDP (2011 est.)
Budget surplus (+) or deficit (-) World Ranking: 77
-2.1% of GDP (2011 est.)
Public debt World Ranking: 123
17.5% of GDP (2011 est.)
16.3% of GDP (2010 est.) Inflation rate (consumer prices) World Ranking: 106
4.2% (2011 est.)
2.4% (2010 est.) Central bank discount rate World Ranking: 135
0.18% (31 December 2010 est.)
0.55% (31 December 2009 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 Commercial bank prime lending rate World Ranking: 75
10.63% (31 December 2011 est.)
11.144% (31 December 2010 est.) Stock of narrow money World Ranking: 68
$13.91 billion (31 December 2011 est.) $12.48 billion (31 December 2010 est.) Stock of broad money World Ranking: 72
$37.68 billion (31 December 2011 est.) $35.37 billion (31 December 2010 est.) Stock of domestic credit World Ranking: 67
$37.81 billion (31 December 2011 est.) $33.95 billion (31 December 2010 est.) Market value of publicly traded shares World Ranking: 75
$8.253 billion (31 December 2011) $7.276 billion (31 December 2010) $7.103 billion (31 December 2009) 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 World Ranking: 55
5.9% (2011 est.)
Electricity - production World Ranking: 61
34.31 billion kWh (2009)
Electricity - consumption World Ranking: 63
28.3 billion kWh (2009)
Electricity - exports
7.735 billion kWh (2009 est.)
Electricity - imports
5.073 billion kWh (2009 est.)
Oil - production World Ranking: 102
2,925 bbl/day (2010 est.)
Oil - consumption World Ranking: 80
91,000 bbl/day (2010 est.)
Oil - exports World Ranking: 69
75,840 bbl/day (2009 est.)
Oil - imports World Ranking: 48
201,400 bbl/day (2009 est.)
Oil - proved reserves World Ranking: 87
15 million bbl (1 January 2011 est.) Natural gas - production World Ranking: 82
54 million cu m (2010)
Natural gas - consumption World Ranking: 78
2.62 billion cu m (2010)
Natural gas - exports World Ranking: 69
0 cu m (2010)
Natural gas - imports World Ranking: 43
2.48 billion cu m (2010)
Natural gas - proved reserves World Ranking: 92
5.663 billion cu m (1 January 2011 est.) Current account balance World Ranking: 46
$502.2 million (2011 est.)
-$737.3 million (2010 est.) Exports World Ranking: 67
$28.12 billion (2011 est.)
$20.6 billion (2010 est.) Exports - commodities
Clothing, footwear, iron and steel, machinery and equipment, fuels Exports - partners
Germany 12.2%, Romania 9.8%, Italy 8.5%, Turkey 8.2%, Greece 7%, Belgium 5.1%, France 4.3% (2011) Imports World Ranking: 64
$30.86 billion (2011 est.)
$24.29 billion (2010 est.) Imports - commodities
Machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials Imports - partners
Russia 18%, Germany 11%, Italy 7.3%, Romania 7%, Greece 5.7%, Turkey 4.6%, Spain 4.3%, Ukraine 4% (2011) Reserves of foreign exchange and gold World Ranking: 62
$17.27 billion (31 December 2011 est.) $17.23 billion (31 December 2010 est.) Debt - external World Ranking: 59
$46.84 billion (31 December 2011 est.) $48.08 billion (31 December 2010 est.) Stock of direct foreign investment - at home World Ranking: 53
$53 billion (31 December 2011 est.) $51.64 billion (31 December 2010 est.) Stock of direct foreign investment - abroad World Ranking: 75
$1.1 billion (31 December 2011 est.) $939.6 million (31 December 2010 est.) Exchange rates
Leva (BGN) per US dollar -
1.4065 (2011 est.) 1.4774 (2010 est.) 1.404 (2009) 1.3171 (2008) 1.4366 (2007) Fiscal year
Calendar year
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Bulgaria (Sofia):
GPS points from Bulgaria (Sofia)
Klisura Oblast Blagoevgrad
Pyesuchevo Oblast Stara Zagora
Bojan-botewo Oblast Khaskovo
Topolowiza Oblast Vidin
Makhala Krivolyak Oblast Kyustendil
Sachan Dere Oblast Smolyan
Khadzhi Khyusin Makhle Oblast Khaskovo
Ak-kadunlar Oblast Silistra |