Bulgaria - Economic Indicators

Southeastern Europe, bordering the Black Sea, between Romania and Turkey

43 00 N, 25 00 E

Europe

almost identical in size to Virginia; slightly larger than Tennessee

354 km

temperate; cold, damp winters; hot, dry summers

mostly mountains with lowlands in north and southeast

highest point: Musala 2,925 m

bauxite, copper, lead, zinc, coal, timber, arable land

arable land 29.9%; permanent crops 1.5%; permanent pasture 15.5%

1,020 sq km (2012)

a fairly even distribution throughout most of the country, with urban areas attracting larger populations

earthquakes; landslides

air pollution from industrial emissions; rivers polluted from raw sewage, heavy metals, detergents; deforestation; forest damage from air pollution and resulting acid rain; soil contamination from heavy metals from metallurgical plants and industrial wastes

strategic location near Turkish Straits; controls key land routes from Europe to Middle East and Asia

7,101,510 (July 2017 est.)

Bulgarian 76.9%, Turkish 8%, Romani 4.4%, other 0.7% (including Russian, Armenian, and Vlach), other (unknown) 10% (2011 est.)

Bulgarian (official) 76.8%, Turkish 8.2%, Romani 3.8%, other 0.7%, unspecified 10.5% (2011 est.)

Eastern Orthodox 59.4%, Muslim 7.8%, other (including Catholic, Protestant, Armenian Apostolic Orthodox, and Jewish) 1.7%, none 3.7%, unspecified 27.4% (2011 est.)

-0.61% (2017 est.)

8.7 births/1,000 population (2017 est.)

14.5 deaths/1,000 population (2017 est.)

-0.3 migrant(s)/1,000 population (2017 est.)

a fairly even distribution throughout most of the country, with urban areas attracting larger populations

SOFIA (capital) 1.226 million (2015)

26.7 years (2014 est.)

11 deaths/100,000 live births (2015 est.)

1.46 children born/woman (2017 est.)

69.2%

8.4% of GDP (2014)

4 physicians/1,000 population (2014)

6.8 beds/1,000 population (2013)

urban: 99.6% of population

rural: 99% of population

total: 99.4% of population

urban: 0.4% of population

rural: 1% of population

total: 0.6% of population (2015 est.)

urban: 86.8% of population

rural: 83.7% of population

total: 86% of population

urban: 13.2% of population

rural: 16.3% of population

total: 14% of population (2015 est.)

<.1% (2016 est.)

3,500 (2016 est.)

<200 (2016 est.)

25% (2016)

4.1% of GDP (2013)

parliamentary republic

28 provinces (oblasti, singular - oblast); Blagoevgrad, Burgas, Dobrich, Gabrovo, Haskovo, Kardzhali, Kyustendil, Lovech, Montana, Pazardzhik, Pernik, Pleven, Plovdiv, Razgrad, Ruse, Shumen, Silistra, Sliven, Smolyan, Sofia, Sofia-Grad (Sofia City), Stara Zagora, Targovishte, Varna, Veliko Tarnovo, Vidin, Vratsa, Yambol

3 March 1878 (as an autonomous principality within the Ottoman Empire); 22 September 1908 (complete independence from the Ottoman Empire)

Liberation Day, 3 March (1878)

civil law

accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

18 years of age; universal

Alternative for Bulgarian Revival or ABV [Konstantin PRODANOV]

Attack (Ataka) [Volen Nikolov SIDEROV]

Bulgarian Agrarian People’s Union [Nikolay NENCHEV]

Bulgarian Socialist Party or BSP [Korneliya NINOVA]

Bulgaria of the Citizens or DBG [Meglena KUNEVA]

Citizens for the European Development of Bulgaria or GERB [Boyko BORISSOV]

Democrats for a Strong Bulgaria or DSB [Atanas ATANOSOV]

Democrats for Responsibility, Solidarity, and Tolerance or DOST [Lyutvi MESTAN]

IMRO - Bulgarian National Movement or IMRO-BNM [Krasimir KARAKACHANOV]

Movement for Rights and Freedoms or DPS [Mustafa KARADAYA]

National Front for the Salvation of Bulgaria or NFSB [Valeri SIMEONOV]

New Republic (alliance of DSB and other center-right parties) [Radan KANEV]

Reformist Bloc or RB (a four-party alliance including DBG and SDS)

United Patriots (alliance of IMRO-BNM, NFSB, and Attack)

Union of Democratic Forces or SDS [Bozhidar LUKARSKI]

Yes! Bulgaria [Hristo IVANOV]

Volya [Veselin MARESHKI]

Confederation of Independent Trade Unions of Bulgaria or CITUB [Plamen DIMITROV]

Podkrepa Labor Confederation [Dimitar MANOLOV]

Australia Group, BIS, BSEC, CD, CE, CEI, CERN, EAPC, EBRD, ECB, EIB, EU, FAO, G- 9, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IFC, IFRCS, IHO (pending member), ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITU, ITUC (NGOs), MIGA, NATO, NSG, OAS (observer), OIF, OPCW, OSCE, PCA, SELEC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNMIL, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC

three equal horizontal bands of white (top), green, and red; the pan-Slavic white-blue-red colors were modified by substituting a green band (representing freedom) for the blue

lion; national colors: white, green, red

Bulgaria, a former communist country that entered the EU in 2007, has an open economy that historically has demonstrated strong growth, but its per-capita income remains the lowest among EU members and its reliance on energy imports and foreign demand for its exports makes its growth sensitive to external market conditions.

The government undertook significant structural economic reforms in the 1990s to move the economy from a centralized, planned economy to a more liberal, market-driven economy. These reforms included privatization of state-owned enterprises, liberalization of trade, and strengthening of the tax system - changes that initially caused some economic hardships but later helped to attract investment, spur growth, and make gradual improvements to living conditions. From 2000 through 2008, Bulgaria maintained robust, average annual real GDP growth in excess of 6%, which was followed by a deep recession in 2009 as the financial crisis caused domestic demand, exports, capital inflows and industrial production to contract, prompting the government to rein in spending. Real GDP growth remained slow - less than 2% annually - until 2015, when demand from EU countries for Bulgarian exports, plus an inflow of EU development funds, boosted growth to more than 3%. In recent years, strong domestic demand combined with low international energy prices have contributed to Bulgaria’s economic growth approaching 4% and have also helped to ease inflation which turned positive in 2017. Bulgaria’s prudent public financial management contributed to a balanced budget in 2016 and a near-balanced budget for 2017.

Bulgaria is heavily reliant on energy imports from Russia, a potential vulnerability, and is a participant in EU-backed efforts to diversify regional natural gas supplies. In late 2016, the Bulgarian Government provided funding to Bulgaria’s National Electric Company to cover the $695 million compensation owed to Russian nuclear equipment manufacturer Atomstroyexport for the cancellation of the Belene Nuclear Power Plant project, which the Bulgarian Government terminated in 2012. The natural gas market, however, continues to be dominated by state-owned Bulgargaz, which is almost entirely supplied by Russia. Infrastructure projects such as the Inter-Connector Greece-Bulgaria and Inter-Connector Bulgaria-Serbia, which would enable Bulgaria to have access to non-Russian gas, have either stalled or made limited progress. In 2016, the Bulgarian Government established the State eGovernment Agency. This new agency is responsible for the implementation of projects related to electronic governance as well as coordination of national policies in this area with the EU requirements and practices, as well as to strengthen cybersecurity.

Despite a favorable investment regime, including low, flat corporate income taxes, significant challenges remain. Corruption in public administration, a weak judiciary, low productivity, and the presence of organized crime continue to hamper the country's investment climate and economic prospects.

$152.4 billion (2017 est.)

$147.1 billion (2016 est.)

$142.2 billion (2015 est.)

$55.95 billion (2017 est.)

3.6% (2017 est.)

3.4% (2016 est.)

3.6% (2015 est.)

$21,600 (2017 est.)

$20,700 (2016 est.)

$19,900 (2015 est.)

22.5% of GDP (2017 est.)

24.5% of GDP (2016 est.)

21.1% of GDP (2015 est.)

vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock

electricity, gas, water; food, beverages, tobacco; machinery and equipment, automotive parts, base metals, chemical products, coke, refined petroleum, nuclear fuel; outsourcing centers

4.2% (2017 est.)

2.581 million

6.6% (2017 est.)

7.7% (2016 est.)

22% (2015 est.)

37 (2015 est.)

35.4 (2014 est.)

34.9% of GDP (2017 est.)

-1.4% of GDP (2017 est.)

28.6% of GDP (2017 est.)

29.5% of GDP (2016 est.)

calendar year

1.1% (2017 est.)

-1.3% (2016 est.)

0% (31 December 2017 est.)

0.01% (31 December 2015 est.)

5.8% (31 December 2017 est.)

6.41% (31 December 2016 est.)

$26.71 billion (31 December 2017 est.)

$22 billion (31 December 2016 est.)

$50.98 billion (31 December 2017 est.)

$42.84 billion (31 December 2016 est.)

$31.6 billion (31 December 2017 est.)

$27.56 billion (31 December 2016 est.)

$5.205 billion (31 December 2017 est.)

$4.797 billion (31 December 2016 est.)

$5.45 billion (31 December 2015 est.)

$1.371 billion (2017 est.)

$2.201 billion (2016 est.)

$28.05 billion (2017 est.)

$24.96 billion (2016 est.)

clothing, footwear, iron and steel, machinery and equipment, fuels, agriculture, tobacco, IT components

Germany 13.7%, Italy 9.3%, Romania 8.8%, Turkey 7.9%, Greece 7%, France 4.5% (2016)

$30.78 billion (2017 est.)

$27 billion (2016 est.)

machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials

Germany 13.1%, Russia 8.9%, Italy 7.9%, Romania 7%, Turkey 6.2%, Greece 4.8%, Poland 4.1% (2016)

$27.52 billion (31 December 2017 est.)

$25.19 billion (31 December 2016 est.)

$39.51 billion (31 December 2017 est.)

$37.99 billion (31 December 2016 est.)

$47.16 billion (31 December 2017 est.)

$45.26 billion (31 December 2016 est.)

$5.338 billion (31 December 2017 est.)

$4.988 billion (31 December 2016 est.)

leva (BGN) per US dollar -

1.73 (2017 est.)

1.77 (2016 est.)

1.77 (2015 est.)

1.76 (2014 est.)

1.47 (2013 est.)

46.15 billion kWh (2015 est.)

31.79 billion kWh (2015 est.)

14.83 billion kWh (2015 est.)

4.25 billion kWh (2015 est.)

10.91 million kW (2015 est.)

36.3% of total installed capacity (2016 est.)

17.3% of total installed capacity (2016 est.)

30% of total installed capacity (2016 est.)

16.4% of total installed capacity (2016 est.)

1,000 bbl/day (2016 est.)

0 bbl/day (2014 est.)

122,800 bbl/day (2014 est.)

15 million bbl (1 January 2017 est.)

132,000 bbl/day (2014 est.)

89,000 bbl/day (2015 est.)

83,450 bbl/day (2014 est.)

44,600 bbl/day (2014 est.)

94 million cu m (2016 est.)

3.209 billion cu m (2015 est.)

0 cu m (2016 est.)

3.093 billion cu m (2016 est.)

5.663 billion cu m (1 January 2017 est.)

49.92 million Mt (2016 est.)

4 national terrestrial TV stations with 1 state-owned and 3 privately owned; a vast array of TV stations are available from cable and satellite TV providers; state-owned national radio broadcasts over 3 networks; large number of private radio stations broadcasting, especially in urban areas (2010)

.bg

LZ (2016)

68 (2013)

1 (2013)

gas 2,765 km; oil 346 km; refined products 378 km (2017)

470 km (2009)

1.44% of GDP (2016)

1.32% of GDP (2015)

1.47% of GDP (2014)

1.61% of GDP (2013)

1.5% of GDP (2012)

Bulgarian Armed Forces: Land Forces (aka Army), Naval Forces, Bulgarian Air Forces (Voennovazdyshni Sily, VVS) (2017)

18-27 years of age for voluntary military service; conscription ended in January 2008; service obligation 6-9 months (2012)

none

major European transshipment point for Southwest Asian heroin and, to a lesser degree, South American cocaine for the European market; limited producer of precursor chemicals; vulnerable to money laundering because of corruption, organized crime; some money laundering of drug-related proceeds through financial institutions