Hong Kong (HKG) and Bulgaria (BGR) Trade | The Observatory of Economic Complexity

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Hong Kong-Bulgaria Trade: In 2023, Hong Kong exported $218M to Bulgaria. The main products that Hong Kong exported to Bulgaria were Broadcasting Equipment ($50.9M), Computers ($36.7M), and Printed Circuit Boards ($15.1M). Over the past 5 years the exports of Hong Kong to Bulgaria have increased at an annualized rate of 12%, from $124M in 2018 to $218M in 2023.

In 2023, Hong Kong did not export any services to Bulgaria.

Bulgaria-Hong Kong Trade: In 2023, Bulgaria exported $110M to Hong Kong. The main products that Bulgaria exported to Hong Kong were Integrated Circuits ($69.9M), Medical Instruments ($7.73M), and Chocolate ($6.55M). Over the past 5 years the exports of Bulgaria to Hong Kong have increased at an annualized rate of 7.51%, from $76.7M in 2018 to $110M in 2023.

In 2020, Bulgaria exported services to Hong Kong worth $20.7M, with Computer and information services ($9.48M), Other business services ($4.11M), and Royalties and license fees ($3.77M) being the largest in terms of value.

Comparison: In 2023, Hong Kong ranked 23 in the Economic Complexity Index (ECI 1.12), and 38 in total exports ($117B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Hong Kong exported $218M to Bulgaria. The main products exported from Hong Kong to Bulgaria were Broadcasting Equipment ($50.9M), Computers ($36.7M), and Printed Circuit Boards ($15.1M). During the last 5 years the exports of Hong Kong to Bulgaria have increased at an annualized rate of 12%, from $124M in 2018 to $218M in 2023.

In 2018, Bulgaria exported $110M to Hong Kong. The main products exported from Bulgaria to Hong Kong were Integrated Circuits ($69.9M), Medical Instruments ($7.73M), and Chocolate ($6.55M). During the last 5 years the exports of Bulgaria to Hong Kong have increased at an annualized rate of 7.51%, from $76.7M in 2023 to $110M in 2018.

Exports from Hong Kong () to Bulgaria () (2023)

Exports from Bulgaria () to Hong Kong () (2023)

Latest Data

Trade between Hong Kong () and Bulgaria ()

Hong Kong Exports

Date

Bulgaria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Hong Kong
Top DestinationChina$25.3B

Bulgaria
Top DestinationGermany$6.84B

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

In 2023, countries that imported more from Hong Kong than Bulgaria included China ($25.3B), Vietnam ($14.4B), and South Korea ($9.5B).

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

Difference in imports from Bulgaria () and Hong Kong () (2023)

Comparative Advantage Hong Kong - Bulgaria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Hong Kong had a large net trade with Bulgaria in the exports of Machines ($176M), Instruments ($12.7M), and Miscellaneous ($6.23M).

During 2018, Bulgaria had a large net trade with Hong Kong in the exports of Machines ($78M), Instruments ($10.4M), and Foodstuffs ($9.76M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Hong Kong Bulgaria+$12.9MTelephones

Top Product Potential Bulgaria Hong Kong+$36.8MIntegrated Circuits

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

Bgr Year

In 2020, Bulgaria exported services to Hong Kong worth $20.7M, with Computer and information services ($9.48M), Other business services ($4.11M), and Royalties and license fees ($3.77M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Bulgaria () to Hong Kong () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Hong Kong () to Bulgaria () (2023)

Exports from Bulgaria () to Hong Kong () (2023)

Latest Data

Trade between Hong Kong () and Bulgaria ()

Hong Kong Exports

Bulgaria Exports

Market Competitiveness

Difference in imports from Bulgaria () and Hong Kong () (2023)

Comparative Advantage Hong Kong - Bulgaria

Potential Exports

Potential Exports

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Bilateral Service Trade

Services Exports from Bulgaria () to Hong Kong () (2020)

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Hong Kong () and Bulgaria () (2023)

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