Bulgaria (BGR) and Georgia (GEO) Trade | The Observatory of Economic Complexity

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Bulgaria-Georgia Trade: In 2023, Bulgaria exported $229M to Georgia. The main products that Bulgaria exported to Georgia were Refined Petroleum ($96.9M), Packaged Medicaments ($10.4M), and Video and Card Games ($9.04M). Over the past 5 years the exports of Bulgaria to Georgia have increased at an annualized rate of 4%, from $188M in 2018 to $229M in 2023.

In 2023, Bulgaria did not export any services to Georgia.

Georgia-Bulgaria Trade: In 2023, Georgia exported $325M to Bulgaria. The main products that Georgia exported to Bulgaria were Copper Ore ($281M), Nitrogenous Fertilizers ($27.5M), and Petroleum Gas ($2.75M). Over the past 5 years the exports of Georgia to Bulgaria have decreased at an annualized rate of 3.16%, from $382M in 2018 to $325M in 2023.

In 2023, Georgia did not export any services to Bulgaria.

Comparison: In 2023, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B). That same year, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Bulgaria exported $229M to Georgia. The main products exported from Bulgaria to Georgia were Refined Petroleum ($96.9M), Packaged Medicaments ($10.4M), and Video and Card Games ($9.04M). During the last 5 years the exports of Bulgaria to Georgia have increased at an annualized rate of 4%, from $188M in 2018 to $229M in 2023.

In 2018, Georgia exported $325M to Bulgaria. The main products exported from Georgia to Bulgaria were Copper Ore ($281M), Nitrogenous Fertilizers ($27.5M), and Petroleum Gas ($2.75M). During the last 5 years the exports of Georgia to Bulgaria have decreased at an annualized rate of 3.16%, from $382M in 2023 to $325M in 2018.

Exports from Bulgaria () to Georgia () (2023)

Exports from Georgia () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Georgia ()

Bulgaria Exports

Date

Georgia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bulgaria
Top DestinationGermany$6.84B

Georgia
Top DestinationAzerbaijan$828M

This map shows whether countries import more from Bulgaria or Georgia. Each country is colored based on the difference in imports they receive from Bulgaria and Georgia or the difference in the growth in imports.

In 2023, countries that imported more from Bulgaria than Georgia included Germany ($6.84B), Romania ($5.63B), and Italy ($4.06B).

In 2023, countries that imported more from Georgia than Bulgaria included Azerbaijan ($828M), Armenia ($712M), and Kyrgyzstan ($519M).

Difference in imports from Georgia () and Bulgaria () (2023)

Comparative Advantage Bulgaria - Georgia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Bulgaria and Georgia by product, considering products traded by both, Bulgaria and Georgia.

During 2023, Bulgaria had a large net trade with Georgia in the exports of Mineral Products ($101M), Machines ($35.2M), and Chemical Products ($26.1M).

During 2018, Georgia had a large net trade with Bulgaria in the exports of Mineral Products ($284M), Chemical Products ($29.6M), and Textiles ($5.14M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bulgaria Georgia+$2.47MCars

Top Product Potential Georgia Bulgaria+$713kFerroalloys

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Bulgaria and Georgia. This means that a dot/product with the flag of Bulgaria indicates it has a comparative advantage over Georgia. Similarly, a dot/product with the flag of Georgia indicates it has a comparative advantage over Bulgaria.

About

Historical Data

Bilateral Trade by Products

Exports from Bulgaria () to Georgia () (2023)

Exports from Georgia () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Georgia ()

Bulgaria Exports

Georgia Exports

Market Competitiveness

Difference in imports from Georgia () and Bulgaria () (2023)

Comparative Advantage Bulgaria - Georgia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Bulgaria () and Georgia () (2023)

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