Bulgaria (BGR) and North Macedonia (MKD) Trade | The Observatory of Economic Complexity

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Bulgaria-North Macedonia Trade: In 2023, Bulgaria exported $581M to North Macedonia. The main products that Bulgaria exported to North Macedonia were Electricity ($90.3M), Refined Petroleum ($67.1M), and Scrap Iron ($58.5M). Over the past 5 years the exports of Bulgaria to North Macedonia have increased at an annualized rate of 6.91%, from $416M in 2018 to $581M in 2023.

In 2023, Bulgaria did not export any services to North Macedonia.

North Macedonia-Bulgaria Trade: In 2023, North Macedonia exported $566M to Bulgaria. The main products that North Macedonia exported to Bulgaria were Electricity ($162M), Copper Ore ($73.6M), and Lead Ore ($49.9M). Over the past 5 years the exports of North Macedonia to Bulgaria have increased at an annualized rate of 8.5%, from $376M in 2018 to $566M in 2023.

In 2023, North Macedonia 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, North Macedonia ranked 104 in total exports ($10.1B), and does not have data regarding Economic Complexity Index.

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Bulgaria exported $581M to North Macedonia. The main products exported from Bulgaria to North Macedonia were Electricity ($90.3M), Refined Petroleum ($67.1M), and Scrap Iron ($58.5M). During the last 5 years the exports of Bulgaria to North Macedonia have increased at an annualized rate of 6.91%, from $416M in 2018 to $581M in 2023.

In 2018, North Macedonia exported $566M to Bulgaria. The main products exported from North Macedonia to Bulgaria were Electricity ($162M), Copper Ore ($73.6M), and Lead Ore ($49.9M). During the last 5 years the exports of North Macedonia to Bulgaria have increased at an annualized rate of 8.5%, from $376M in 2023 to $566M in 2018.

Exports from Bulgaria () to North Macedonia () (2023)

Exports from North Macedonia () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and North Macedonia ()

Bulgaria Exports

Date

North Macedonia Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bulgaria
Top DestinationGermany$6.84B

North Macedonia
Top DestinationGermany$4B

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

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

In 2023, countries that imported more from North Macedonia than Bulgaria included Bosnia and Herzegovina ($124M), Montenegro ($46.7M), and Albania ($150M).

Difference in imports from North Macedonia () and Bulgaria () (2023)

Comparative Advantage Bulgaria - North Macedonia

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Bulgaria had a large net trade with North Macedonia in the exports of Mineral Products ($213M), Metals ($113M), and Machines ($48.3M).

During 2018, North Macedonia had a large net trade with Bulgaria in the exports of Mineral Products ($318M), Metals ($70.9M), and Plastics and Rubbers ($33.4M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bulgaria North Macedonia+$11.1MRefined Petroleum

Top Product Potential North Macedonia Bulgaria+$8.72MInsulated Wire

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 North Macedonia. This means that a dot/product with the flag of Bulgaria indicates it has a comparative advantage over North Macedonia. Similarly, a dot/product with the flag of North Macedonia indicates it has a comparative advantage over Bulgaria.

About

Historical Data

Bilateral Trade by Products

Exports from Bulgaria () to North Macedonia () (2023)

Exports from North Macedonia () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and North Macedonia ()

Bulgaria Exports

North Macedonia Exports

Market Competitiveness

Difference in imports from North Macedonia () and Bulgaria () (2023)

Comparative Advantage Bulgaria - North Macedonia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Bulgaria () and North Macedonia () (2023)

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