Russia (RUS) and Bulgaria (BGR) Trade

2022

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Exports $5.55BRnk 23 / 138

2022

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About

Russia-Bulgaria Trade: In 2022, Russia exported $5.55B to Bulgaria. The main products that Russia exported to Bulgaria were Crude Petroleum ($3.03B), Petroleum Gas ($1.13B), and Refined Petroleum ($614M). Over the past 5 years the exports of Russia to Bulgaria have increased at an annualized rate of 11.2%, from $3.26B in 2017 to $5.55B in 2022.

In 2020, Russia exported services to Bulgaria worth $122M, with Transportation ($52.1M), Other business services ($26.5M), and Computer and information services ($16.3M) being the largest in terms of value.

Bulgaria-Russia Trade: In 2022, Bulgaria exported $512M to Russia. The main products that Bulgaria exported to Russia were Packaged Medicaments ($223M), Chocolate ($19.7M), and Animal Food ($19.7M). Over the past 5 years the exports of Bulgaria to Russia have decreased at an annualized rate of 11.3%, from $931M in 2017 to $512M in 2022.

In 2020, Bulgaria exported services to Russia worth $239M, with Transportation ($182M), Travel ($33.8M), and Other business services ($12.6M) being the largest in terms of value.

Comparison: In 2022, Russia ranked 47 in the Economic Complexity Index (ECI 0.43), and 12 in total exports ($486B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.68), and 60 in total exports ($51.9B).

Latest Trends

January, 2022

About

Overview In January 2022, Russia exported $450M and imported $35.2M from Bulgaria, resulting in a positive trade balance of $415M. Between January 2021 and January 2022 the exports of Russia have increased by $343M (321%) from $107M to $450M, while imports increased by $4.58M (15%) from $30.6M to $35.2M.

Trade In January 2022, the top exports of Russia to Bulgaria were Commodities not elsewhere specified ($45.5M), Crude Petroleum ($27.2M), Refined Petroleum ($10.8M), Raw Aluminium ($5.56M), and Nitrogenous Fertilizers ($3.93M). In January 2022 the top imports of Russia from Bulgaria were Packaged Medicaments ($7.55M), Centrifuges ($2.27M), Gas Turbines ($1.42M), Pulley Systems ($1.14M), and Electric Batteries ($950k).

Origins In January 2022 the exports of Russia were mainly from MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($388M), REPUBLIC OF TATARSTAN ($34.1M), TULA REGION ($7.42M), NOVOSIBIRSK REGION ($2.18M), and TYUMEN REGION ($1.99M), while imports destinations were mainly MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION ($19.6M), MOSCOW REGION ($3.79M), ST. PETERSBURG ($2.08M), VLADIMIR REGION ($1.51M), and TULA REGION ($1.4M).

Growth In January 2022, the increase in Russia's year-by-year exports to Bulgaria was explained primarily by an increase in product exports in Commodities not elsewhere specified ($45.1M or 11.8k%), Coal Briquettes ($2.19M or 145%), and Coke ($1.38M or 425%). In January 2022, the increase in Russia's year-by-year imports from Bulgaria was explained primarily by an increase in product imports in Packaged Medicaments ($4.31M or 133%), Centrifuges ($1.96M or 614%), and Electric Soldering Equipment ($546k or 1.73M%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (January 2021 - January 2022)$343M(321%)

IMPORT GROWTH (January 2021 - January 2022)$4.58M(15%)

MAIN EXPORTER (January 2022)MOSCOW, THE CAPITAL OF RUSSIAN FEDERATION$388M

This section shows exports and imports data at subnational level for Russia. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of Russia over time.

To check Bulgaria and Russia trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Russia exported $5.55B to Bulgaria. The main products exported from Russia to Bulgaria were Crude Petroleum ($3.03B), Petroleum Gas ($1.13B), and Refined Petroleum ($614M). During the last 5 years the exports of Russia to Bulgaria have increased at an annualized rate of 11.2%, from $3.26B in 2017 to $5.55B in 2022.

In 2017, Bulgaria exported $512M to Russia. The main products exported from Bulgaria to Russia were Packaged Medicaments ($223M), Chocolate ($19.7M), and Animal Food ($19.7M). During the last 5 years the exports of Bulgaria to Russia have decreased at an annualized rate of 11.3%, from $931M in 2022 to $512M in 2017.

Exports from Russia () to Bulgaria () (2022)

Exports from Bulgaria () to Russia () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Russia
Top DestinationChina$101B

Bulgaria
Top DestinationGermany$6.91B

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

In 2022, countries that imported more from Russia than Bulgaria included China ($101B), India ($40.4B), and Turkey ($25.3B).

In 2022, countries that imported more from Bulgaria than Russia included Romania ($6.55B), Austria ($989M), and Gibraltar ($552M).

Difference in imports from Bulgaria () and Russia () (2022)

Comparative Advantage Russia - Bulgaria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Russia had a large net trade with Bulgaria in the exports of Mineral Products ($5.01B), Metals ($257M), and Chemical Products ($166M).

During 2017, Bulgaria had a large net trade with Russia in the exports of Chemical Products ($279M), Machines ($96.1M), and Foodstuffs ($61.5M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Russia Bulgaria+$428MPetroleum Gas

Top Product Potential Bulgaria Russia+$24MPackaged Medicaments

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

Rus Year

In 2020, Bulgaria exported services to Russia worth $239M, with Transportation ($182M), Travel ($33.8M), and Other business services ($12.6M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

Product Space of Russia () and Bulgaria () (2022)

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