Bulgaria (BGR) and Greece (GRC) Trade | The Observatory of Economic Complexity

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Bulgaria-Greece Trade: In 2023, Bulgaria exported $3.04B to Greece. The main products that Bulgaria exported to Greece were Electricity ($572M), Petroleum Gas ($170M), and Wheat ($105M). Over the past 5 years the exports of Bulgaria to Greece have increased at an annualized rate of 7.73%, from $2.09B in 2018 to $3.04B in 2023.

In 2020, Bulgaria exported services to Greece worth $257M, with Travel ($122M), Transportation ($99.3M), and Other business services ($25.6M) being the largest in terms of value.

Greece-Bulgaria Trade: In 2023, Greece exported $2.38B to Bulgaria. The main products that Greece exported to Bulgaria were Electricity ($221M), Refined Petroleum ($125M), and Scrap Copper ($120M). Over the past 5 years the exports of Greece to Bulgaria have increased at an annualized rate of 8.72%, from $1.57B in 2018 to $2.38B in 2023.

In 2020, Greece exported services to Bulgaria worth $234M, with Travel ($89.4M), Other business services ($49.2M), and Transportation ($47.9M) being the largest in terms of value.

Comparison: In 2023, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B). That same year, Greece ranked 46 in the Economic Complexity Index (ECI 0.4), and 56 in total exports ($53.3B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Bulgaria exported $3.04B to Greece. The main products exported from Bulgaria to Greece were Electricity ($572M), Petroleum Gas ($170M), and Wheat ($105M). During the last 5 years the exports of Bulgaria to Greece have increased at an annualized rate of 7.73%, from $2.09B in 2018 to $3.04B in 2023.

In 2018, Greece exported $2.38B to Bulgaria. The main products exported from Greece to Bulgaria were Electricity ($221M), Refined Petroleum ($125M), and Scrap Copper ($120M). During the last 5 years the exports of Greece to Bulgaria have increased at an annualized rate of 8.72%, from $1.57B in 2023 to $2.38B in 2018.

Exports from Bulgaria () to Greece () (2023)

Exports from Greece () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Greece ()

Bulgaria Exports

Date

Greece Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bulgaria
Top DestinationGermany$6.84B

Greece
Top DestinationItaly$6.21B

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

In 2023, countries that imported more from Bulgaria than Greece included Germany ($6.84B), Romania ($5.63B), and Belgium ($1.57B).

In 2023, countries that imported more from Greece than Bulgaria included Cyprus ($3.03B), Italy ($6.21B), and Lebanon ($1.78B).

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

Comparative Advantage Bulgaria - Greece

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Bulgaria had a large net trade with Greece in the exports of Mineral Products ($776M), Metals ($278M), and Machines ($263M).

During 2018, Greece had a large net trade with Bulgaria in the exports of Mineral Products ($509M), Metals ($370M), and Machines ($280M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bulgaria Greece+$72.6MPetroleum Gas

Top Product Potential Greece Bulgaria+$67.5MRefined Petroleum

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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Bilateral Service Trade

Grc Year

Bgr Year

In 2020, Bulgaria exported services to Greece worth $257M, with Travel ($122M), Transportation ($99.3M), and Other business services ($25.6M) being the largest in terms of value.

In 2020, Greece exported services to Bulgaria worth $234M, with Travel ($89.4M), Other business services ($49.2M), and Transportation ($47.9M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Bulgaria () to Greece () (2020)

Services Exports from Greece () to Bulgaria () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Bulgaria () to Greece () (2023)

Exports from Greece () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Greece ()

Bulgaria Exports

Greece Exports

Market Competitiveness

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

Comparative Advantage Bulgaria - Greece

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Bulgaria () to Greece () (2020)

Services Exports from Greece () to Bulgaria () (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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