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

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Bulgaria-North Macedonia Trade: In 2022, Bulgaria exported $440M to North Macedonia. The main products that Bulgaria exported to North Macedonia were Electricity ($214M), Refined Petroleum ($97.3M), and Scrap Iron ($45.5M). Over the past 5 years the exports of Bulgaria to North Macedonia have increased at an annualized rate of 12.7%, from $242M in 2017 to $440M in 2022.

In 2022, Bulgaria did not export any services to North Macedonia.

North Macedonia-Bulgaria Trade: In 2022, North Macedonia exported $315M to Bulgaria. The main products that North Macedonia exported to Bulgaria were Lead Ore ($71.8M), Copper Ore ($68.2M), and Zinc Ore ($55.2M). Over the past 5 years the exports of North Macedonia to Bulgaria have increased at an annualized rate of 4.21%, from $256M in 2017 to $315M in 2022.

In 2022, North Macedonia did not export any services to Bulgaria.

Comparison: In 2022, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.68), and 60 in total exports ($51.9B). That same year, North Macedonia ranked 52 in the Economic Complexity Index (ECI 0.25), and 105 in total exports ($9.52B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Bulgaria exported $440M to North Macedonia. The main products exported from Bulgaria to North Macedonia were Electricity ($214M), Refined Petroleum ($97.3M), and Scrap Iron ($45.5M). During the last 5 years the exports of Bulgaria to North Macedonia have increased at an annualized rate of 12.7%, from $242M in 2017 to $440M in 2022.

In 2017, North Macedonia exported $315M to Bulgaria. The main products exported from North Macedonia to Bulgaria were Lead Ore ($71.8M), Copper Ore ($68.2M), and Zinc Ore ($55.2M). During the last 22 years the exports of North Macedonia to Bulgaria have increased at an annualized rate of 4.21%, from $256M in 1995 to $315M in 2017.

Exports from Bulgaria () to North Macedonia () (2022)

Exports from North Macedonia () to Bulgaria () (2022)

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$6.91B

North Macedonia
Top DestinationGermany$3.96B

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 2022, countries that imported more from Bulgaria than North Macedonia included Romania ($6.55B), Italy ($3.85B), and Germany ($6.91B).

In 2022, countries that imported more from North Macedonia than Bulgaria included Montenegro ($40.3M) and Bosnia and Herzegovina ($106M).

Difference in imports from North Macedonia () and Bulgaria () (2022)

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 2022, Bulgaria had a large net trade with North Macedonia in the exports of Mineral Products ($348M), Metals ($127M), and Machines ($53M).

During 2017, North Macedonia had a large net trade with Bulgaria in the exports of Mineral Products ($201M), Metals ($73.4M), and Plastics and Rubbers ($39.9M).

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 () (2022)

Exports from North Macedonia () to Bulgaria () (2022)

Latest Data

Trade between Bulgaria () and North Macedonia ()

Bulgaria Exports

North Macedonia Exports

Market Competitiveness

Difference in imports from North Macedonia () and Bulgaria () (2022)

Comparative Advantage Bulgaria - North Macedonia

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Bulgaria () and North Macedonia () (2022)

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