Bulgaria

Economy - overview:
Bulgaria, a former Communist country that entered the EU on 1 January 2007, has experienced strong growth since a major economic downturn in 1996. Successive governments have demonstrated commitment to economic reforms and responsible fiscal planning, but have failed so far to rein in rising inflation and large current account deficits. Bulgaria has averaged more than 6% growth since 2004, attracting significant amounts of foreign direct investment, but corruption in the public administration, a weak judiciary, and the presence of organized crime remain significant challenges.
GDP (purchasing power parity):
$93.78 billion (2008 est.)
$88.48 billion (2007)
$83.31 billion (2006)
GDP (official exchange rate):
$49.43 billion (2008)
GDP - real growth rate:
6% (2008)
6.2% (2007 est.)
6.3% (2006 est.)
GDP - per capita (PPP):
$12,900 (2008 est.)
$12,100 (2007 est.)
$11,300 (2006 est.)
GDP - composition by sector:
agriculture: 4.6%
industry: 28.7%
services: 66.7% (2008 est.)
Labor force:
2.44 million (2008)
Labor force - by occupation:
agriculture: 7.5%
industry: 35.5%
services: 57% (2007 est.)
Unemployment rate:
6.3% (2008)
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):
38.3% of GDP (2008)
Budget:
revenues: $20.43 billion
expenditures: $18.93 billion (2008)
Public debt:
16.7% of GDP (2008)
Inflation rate (consumer prices):
7.8% (2008)
Central bank discount rate:
5.77% (31 December 2008)
Commercial bank prime lending rate:
10% (31 December 2007)
Stock of money:
$14.86 billion (31 December 2008)
Stock of quasi money:
$34.17 billion (31 December 2008)
Stock of domestic credit:
$33.3 billion (31 December 2008)
Market value of publicly traded shares:
$21.79 billion (31 December 2007)
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:
3.9% (2008)
Electricity - production:
42.43 billion kWh (2007)
Electricity - consumption:
28.8 billion kWh (2007 est.)
Electricity - exports:
7.992 billion kWh (2007 est.)
Electricity - imports:
3.243 billion kWh (2007 est.)
Oil - production:
3,520 bbl/day (2007)
Oil - consumption:
142,400 bbl/day (2007)
Oil - exports:
2,480 bbl/day (2007)
Oil - imports:
145,200 bbl/day (2007)
Oil - proved reserves:
15 million bbl (1 January 2008 est.)
Natural gas - production:
0 cu m (2007 est.)
Natural gas - consumption:
3.5 billion cu m (2007 est.)
Natural gas - exports:
0 cu m (2007)
Natural gas - imports:
3.229 billion cu m (2007)
Natural gas - proved reserves:
5.663 billion cu m (1 January 2008 est.)
Current account balance:
-$12.11 billion (2008)
Exports:
$22.3 billion f.o.b. (2008)
Exports - commodities:
clothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partners:
Turkey 11.5%, Germany 10.3%, Italy 10.2%, Greece 9.1%, Belgium 6.2%, Romania 4.9% (2007)
Imports:
$35.3 billion f.o.b. (2008)
Imports - commodities:
machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Imports - partners:
Russia 12.3%, Germany 12.3%, Italy 8.7%, Ukraine 7.2%, Turkey 6.9%, Greece 6.2%, Romania 4.5%, Austria 4.3% (2007)
Reserves of foreign exchange and gold:
$18.59 billion (31 December 2008)
Debt - external:
$54.01 billion (30 November 2008)
Stock of direct foreign investment - at home:
$45.13 billion (2008)
Stock of direct foreign investment - abroad:
$1.402 billion (2008)
Exchange rates:
leva (BGN) per US dollar - 1.3171 (2008 est.), 1.4366 (2007), 1.5576 (2006), 1.5741 (2005), 1.5751 (2004)