Bulgaria2020 Economic Complexity : 0.52, Rank 41 of 127
2020 Product Exports | Imports: $33.2B | $34.8B, 59 of 226 | 58 of 226
2020 Per Capita Product Exports | Imports: $4.78k | $5.02k, 64 of 219 | 76 of 219
2020 Service Exports | Imports : $6.19B | $3.87B, 34 of 65 | 40 of 65
Overview In 2020, Bulgaria was the number 73 economy in the world in terms of GDP (current US$), the number 59 in total exports, the number 58 in total imports, the number 79 economy in terms of GDP per capita (current US$) and the number 41 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Bulgaria are Refined Copper ($1.2B), Packaged Medicaments ($1.08B), Refined Petroleum ($1.02B), Raw Copper ($1.01B), and Precious Metal Ore ($761M), exporting mostly to Germany ($5.31B), Romania ($2.94B), Italy ($2.51B), Turkey ($2.1B), and Greece ($2.01B).
In 2020, Bulgaria was the world's biggest exporter of Iron Pyrites ($36.8M)
Imports The top imports of Bulgaria are Copper Ore ($1.62B), Crude Petroleum ($1.42B), Packaged Medicaments ($1.3B), Cars ($1.19B), and Broadcasting Equipment ($675M), importing mostly from Germany ($3.99B), Turkey ($2.63B), Romania ($2.59B), Italy ($2.29B), and Russia ($2.15B).
Location Bulgaria borders Greece, North Macedonia, Romania, Serbia, and Turkey by land.
The following section uses the most recent trade data from partners of Bulgaria.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Refined Copper, $1.2B
Top Destination (2020): Germany, $3.99B
In 2020, Bulgaria exported a total of $33.2B, making it the number 59 exporter in the world. During the last five reported years the exports of Bulgaria have changed by $6.12B from $27B in 2015 to $33.2B in 2020.
The most recent exports are led by Refined Copper ($1.2B), Packaged Medicaments ($1.08B), Refined Petroleum ($1.02B), Raw Copper ($1.01B), and Precious Metal Ore ($761M). The most common destination for the exports of Bulgaria are Germany ($5.31B), Romania ($2.94B), Italy ($2.51B), Turkey ($2.1B), and Greece ($2.01B).
Bulgaria Exports Services (2020): $6.19B
Bulgaria Imports Services (2020): $3.87B
In 2020, Bulgaria exported $6.19B worth of services. The top services exported by Bulgaria in 2020 were Miscellaneous business, professional, and technical services ($1.28B), Other transport ($1.25B), Personal travel ($1.11B), Reinsurance ($598M), and Business travel ($519M).
The top services imported by Bulgaria in 2020 were Miscellaneous business, professional, and technical services ($837M), Personal travel ($535M), Business travel ($506M), Sea transport ($457M), and Other transport ($435M).
Bulgaria has a high level of specialization in Sunflower Seeds (56.2), Precious Metal Ore (38.1), Raw Copper (35.4), Non-Retail Combed Wool Yarn (32.8), and Copper Plating (27.3). 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 Metalworking Transfer Machines (2.55), Metal Lathes (1.68), Valves (1.41), Motor-working Tools (1.37), and Gas and Liquid Flow Measuring Instruments (1.3). 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 Knit Men's Shirts (0.39), Molasses (0.39), Fish: dried, salted, smoked or in brine (0.39), Pasta (0.38), and Iron Cloth (0.38). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Bulgaria's economy has become relatively more complex, moving from the 43rd to the 41st 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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