Countries
Bulgaria
Key Economic Indicators
$270.34 billion
$41,969
3.39%
2.45%
3.54%
$112.212 billion (2024 est.)
<b>note:</b> central government debt as a % of GDP
$-1,741,000,000
Economic Overview
<p>upper-middle-income EU economy; currency pegged to the euro, with eurozone accession pending; declining energy prices helping lower inflation rate; EU structural funds contributing to investment recovery; skilled labor shortage driven by emigration and aging population</p>
All Economic Data
Agricultural products
wheat, maize, sunflower seeds, barley, milk, rapeseed, grapes, potatoes, triticale, tomatoes (2023)
note:
<b>note:</b> top ten agricultural products based on tonnage
Average household expenditures
On alcohol and tobacco:
4.8% of household expenditures (2023 est.)
On food:
20.7% of household expenditures (2023 est.)
Budget
Expenditures:
$37.546 billion (2023 est.)
Note:
<b>note:</b> central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated
Revenues:
$35.615 billion (2023 est.)
Currency
code:
BGN
name:
Bulgarian lev (BGN) [лв]
Current account balance
$-1,741,000,000
Current account balance 2022:
-$2.43 billion (2022 est.)
Current account balance 2023:
-$894.86 million (2023 est.)
Current account balance 2024:
-$2.014 billion (2024 est.)
Note:
<b>note:</b> balance of payments - net trade and primary/secondary income in current dollars
Debt - external
$47.21 billion
Debt - external 2022:
$14.277 billion (2022 est.)
Note:
<b>note:</b> present value of external debt in current US dollars
Exchange rates
Currency:
leva (BGN) per US dollar -
Exchange rates 2020:
1.716 (2020 est.)
Exchange rates 2021:
1.654 (2021 est.)
Exchange rates 2022:
1.86 (2022 est.)
Exchange rates 2023:
1.809 (2023 est.)
Exchange rates 2024:
1.808 (2024 est.)
Exports
$63.89 billion
Exports 2022:
$63.246 billion (2022 est.)
Exports 2023:
$63.415 billion (2023 est.)
Exports 2024:
$62.661 billion (2024 est.)
Note:
<b>note:</b> balance of payments - exports of goods and services in current dollars
Exports - commodities
refined petroleum, garments, refined copper, wheat, natural gas (2023)
note:
<b>note:</b> top five export commodities based on value in dollars
Exports - partners
Germany 14%, Romania 11%, Italy 8%, Greece 6%, Turkey 5% (2023)
note:
<b>note:</b> top five export partners based on percentage share of exports
Foreign direct investment
net inflows:
$3.55 billion
GDP - composition, by end use
Exports of goods and services:
55.8% (2024 est.)
Government consumption:
19.7% (2024 est.)
Household consumption:
57.6% (2024 est.)
Imports of goods and services:
-53.5% (2024 est.)
Investment in fixed capital:
17.9% (2024 est.)
Investment in inventories:
2.5% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to rounding or gaps in data collection
GDP - composition, by sector of origin
Agriculture:
2.1% (2024 est.)
Industry:
22.5% (2024 est.)
Note:
<b>note:</b> figures may not total 100% due to non-allocated consumption not captured in sector-reported data
Services:
62.6% (2024 est.)
GDP (official exchange rate)
$112.212 billion (2024 est.)
note:
<b>note:</b> data in current dollars at official exchange rate
GDP per capita (nominal)
$17,596
Gini Index coefficient - distribution of family income
41.3 (2018)
Gini Index coefficient - distribution of family income 2022:
38.2 (2022 est.)
Note:
<b>note:</b> index (0-100) of income distribution; higher values represent greater inequality
GNI (gross national income)
$107.61 billion
GNI per capita
$15,370
Gross domestic investment
20 % of GDP
Household income or consumption by percentage share
Highest 10%:
30.1% (2022 est.)
Lowest 10%:
2.1% (2022 est.)
Note:
<b>note:</b> % share of income accruing to lowest and highest 10% of population
Imports
$61.04 billion
Imports 2022:
$62.261 billion (2022 est.)
Imports 2023:
$59.158 billion (2023 est.)
Imports 2024:
$60.029 billion (2024 est.)
Note:
<b>note:</b> balance of payments - imports of goods and services in current dollars
Imports - commodities
crude petroleum, copper ore, cars, packaged medicine, electricity (2023)
note:
<b>note:</b> top five import commodities based on value in dollars
Imports - partners
Germany 12%, Turkey 8%, Romania 8%, Russia 7%, Italy 6% (2023)
note:
<b>note:</b> top five import partners based on percentage share of imports
Industrial production growth rate
1.9% (2024 est.)
note:
<b>note:</b> annual % change in industrial value added based on constant local currency
Industries
electricity, gas, water; food, beverages, tobacco; machinery and equipment, automotive parts, base metals, chemical products, coke, refined petroleum, nuclear fuel; outsourcing centers
Inflation rate (consumer prices)
2.45%
Inflation rate (consumer prices) 2022:
15.3% (2022 est.)
Inflation rate (consumer prices) 2023:
9.4% (2023 est.)
Inflation rate (consumer prices) 2024:
2.4% (2024 est.)
Note:
<b>note:</b> annual % change based on consumer prices
Labor force
3.124 million (2024 est.)
note:
<b>note:</b> number of people ages 15 or older who are employed or seeking work
total:
3.07 million persons
Labor force - by occupation
agriculture:
4.69%
industry:
27.88%
services:
67.43%
Population below poverty line
20.6% (2022 est.)
note:
<b>note:</b> % of population with income below national poverty line
Public debt
Note:
<b>note:</b> central government debt as a % of GDP
Public debt 2023:
30.1% of GDP (2023 est.)
Real GDP (purchasing power parity)
$270.34 billion
Note:
<b>note:</b> data in 2021 dollars
Real GDP (purchasing power parity) 2022:
$209.683 billion (2022 est.)
Real GDP (purchasing power parity) 2023:
$213.64 billion (2023 est.)
Real GDP (purchasing power parity) 2024:
$219.645 billion (2024 est.)
Real GDP growth rate
3.39%
Note:
<b>note:</b> annual GDP % growth based on constant local currency
Real GDP growth rate 2022:
4% (2022 est.)
Real GDP growth rate 2023:
1.9% (2023 est.)
Real GDP growth rate 2024:
2.8% (2024 est.)
Real GDP per capita
$41,969
Note:
<b>note:</b> data in 2021 dollars
Real GDP per capita 2022:
$32,400 (2022 est.)
Real GDP per capita 2023:
$33,100 (2023 est.)
Real GDP per capita 2024:
$34,100 (2024 est.)
Remittances
$2.64 billion
Note:
<b>note:</b> personal transfers and compensation between resident and non-resident individuals/households/entities
Remittances 2022:
2.3% of GDP (2022 est.)
Remittances 2023:
2.2% of GDP (2023 est.)
Remittances 2024:
2.4% of GDP (2024 est.)
Reserves of foreign exchange and gold
$43.7 billion
Note:
<b>note:</b> holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars
Reserves of foreign exchange and gold 2022:
$40.989 billion (2022 est.)
Reserves of foreign exchange and gold 2023:
$46.334 billion (2023 est.)
Reserves of foreign exchange and gold 2024:
$43.698 billion (2024 est.)
Revenue (excl grants)
35 % of GDP
Tax revenue
21 % of GDP
Taxes and other revenues
20.5% (of GDP) (2023 est.)
note:
<b>note:</b> central government tax revenue as a % of GDP
Unemployment rate
3.54%
Note:
<b>note:</b> % of labor force seeking employment
Unemployment rate 2022:
4.3% (2022 est.)
Unemployment rate 2023:
4.4% (2023 est.)
Unemployment rate 2024:
4.2% (2024 est.)
Youth unemployment rate (ages 15-24)
Female:
11.8% (2024 est.)
Male:
12.4% (2024 est.)
Note:
<b>note:</b> % of labor force ages 15-24 seeking employment
Total:
12.1% (2024 est.)
Economic Rankings
External Debt
#30
Inflation Rate
#37
Reserves
#44
GDP per Capita
#52
Gini Index
#58
Exports
#60
Imports
#61
GDP (Nominal)
#68
GDP (PPP)
#69
Unemployment Rate
#119
GDP Growth Rate
#134
Quick Facts
Industries
electricity, gas, water; food, beverages, tobacco; machinery and equipment, automotive parts, base metals, chemical products, coke, refined petroleum, nuclear fuel; outsourcing centers
Agricultural products
wheat, maize, sunflower seeds, barley, milk, rapeseed, grapes, potatoes, triticale, tomatoes (2023)
Labor force
3.124 million (2024 est.)
Exports - partners
Germany 14%, Romania 11%, Italy 8%, Greece 6%, Turkey 5% (2023)
Imports - partners
Germany 12%, Turkey 8%, Romania 8%, Russia 7%, Italy 6% (2023)
Exchange rates
leva (BGN) per US dollar -
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