Bulgaria2019 Economic Complexity : 0.56, Rank 46 of 146
2019 Product Exports | Imports: $34.5B | $37.9B, 60 of 225 | 61 of 225
2019 Per Capita Product Exports | Imports: $4.95k | $5.43k, 69 of 219 | 80 of 219
2017 Service Exports | Imports : $8.33B | $5.07B, 54 of 139 | 63 of 139
Overview: In 2019 Bulgaria was the number 72 economy in the world in terms of GDP (current US$), the number 60 in total exports, the number 61 in total imports, the number 74 economy in terms of GDP per capita (current US$) and the number 46 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Bulgaria are Refined Petroleum ($2.27B), Packaged Medicaments ($1.04B), Refined Copper ($1.02B), Wheat ($946M), and Raw Copper ($801M), exporting mostly to Germany ($5.41B), Romania ($2.87B), Italy ($2.56B), Turkey ($2.45B), and Greece ($2.13B).
In 2019, Bulgaria was the world's biggest exporter of Iron Pyrites ($28.6M)
Imports: The top imports of Bulgaria are Crude Petroleum ($2.98B), Copper Ore ($1.97B), Cars ($1.31B), Packaged Medicaments ($1.21B), and Refined Petroleum ($830M), importing mostly from Germany ($4.21B), Russia ($3.26B), Italy ($2.78B), Romania ($2.63B), and Turkey ($2.6B).
Location: Bulgaria borders Greece, North Macedonia, Romania, Serbia, and Turkey by land.
Top Export (2019): Refined Petroleum, $2.27B
Top Destination (2019): Germany, $5.41B
In 2019, Bulgaria exported a total of $34.5B, making it the number 60 exporter in the world. During the last five reported years the exports of Bulgaria have changed by $4.07B from $30.5B in 2014 to $34.5B in 2019.
The most recent exports are led by Refined Petroleum ($2.27B), Packaged Medicaments ($1.04B), Refined Copper ($1.02B), Wheat ($946M), and Raw Copper ($801M). The most common destination for the exports of Bulgaria are Germany ($5.41B), Romania ($2.87B), Italy ($2.56B), Turkey ($2.45B), and Greece ($2.13B).
Top Import (2019): Crude Petroleum, $2.98B
Top Origin (2019): Germany, $4.21B
In 2019 Bulgaria imported $37.9B, making it the number 61 trade destination in the world. During the last five reported years the imports of Bulgaria changed by $4.17B from $33.7B in 2014 to $37.9B in 2019.
The most recent imports of Bulgaria are led by Crude Petroleum ($2.98B), Copper Ore ($1.97B), Cars ($1.31B), Packaged Medicaments ($1.21B), and Refined Petroleum ($830M). The most common import partners for Bulgaria are Germany ($4.21B), Russia ($3.26B), Italy ($2.78B), Romania ($2.63B), and Turkey ($2.6B).
Bulgaria Exports Services (2017): $8.33B
Bulgaria Imports Services (2017): $5.07B
In 2017, Bulgaria exported $8.33B worth of services. The top services exported by Bulgaria in 2017 were Travel ($4.05B), Transportation ($2.06B), Computer and information services ($1.12B), Miscellaneous business, professional, and technical services ($861M), and Personal, cultural, and recreational services ($75.4M).
The top services imported by Bulgaria in 2017 were Transportation ($2.02B), Travel ($1.69B), Miscellaneous business, professional, and technical services ($666M), Computer and information services ($415M), and Royalties and license fees ($176M).
The top product import tariffs by their MFN Ad Valorem value for Bulgaria are Sugar beet (178%) and Whey (173%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Bulgaria are:
Bulgaria has a high level of specialization in Sunflower Seeds (50.5), Precious Metal Ore (44.4), Raw Copper (36.6), Copper Plating (24.4), and Non-Retail Combed Wool Yarn (23.9). Specialization is measured using RCA, an index that takes the ratio between Bulgaria observed and expected exports in each product.
The highest complexity exports of Bulgaria according to the product complexity index (PCI) are Tools for working in the hand, non-electric motor (1.64), Lathes for removing metal (1.64), Taps, cocks, valves for pipes, tanks, boilers, etc (1.54), Equipment to measure fluid flow, level, pressure, etc (1.51), and Pumps for liquids (1.41). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Bulgaria according to the relatedness index, are Cement (0.39), Molasses (0.39), Melons (0.38), Knit Men's Shirts (0.37), and Sawn Wood (0.37). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Bulgaria is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
During the last 20 years Bulgaria's economy has become relatively less complex, moving from the 45th to the 46th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
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