Observatory of Economic Complexity

Flag Bulgaria

Econ Complexity (2018): 0.49, Rank 47 of 137

Product Exports (2018): $34B, Rank 63 of 222

Exports Per Capita (2018): $4.83k, Rank 70 of 219

Product Imports (2018): $38.3B, Rank 60 of 221

Imports Per Capita (2018): $5.45k, Rank 71 of 219

Service Exports (2017): $8.33B, Rank 54 of 139

Service Imports (2017): $5.07B, Rank 63 of 139

GDP (2018): $65.1B, CURRENT US$
Rank 74 of 196

GDP growth (2008 - 2018): 19.7%, CURRENT US$
Rank 126 of 196

GDP PC (2018): $9,273, CURRENT US$
Rank 81 of 196

GDP PC GROWTH (2008 - 2018): 27.7%, CURRENT US$
Rank 88 of 196

About

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Overview: In 2018 Bulgaria was the number 74 economy in the world in terms of GDP (current US$), the number 63 in total exports, the number 60 in total imports, and the number 47 most complex economy according to the Economic Complexity Index (ECI). In 2018, Bulgaria exported $34B and imported $38.3B, resulting in a negative trade balance of -$4.31B. In 2018, Bulgaria's exports per capita were $4.83k and its imports per capita were $5.45k.

Trade: The top exports of Bulgaria are Refined Petroleum ($1.92B), Refined Copper ($1.28B), Raw Copper ($1.08B), Packaged Medicaments ($989M), and Wheat ($886M). The top imports of Bulgaria are Copper Ore ($2.82B), Crude Petroleum ($2.65B), Cars ($1.36B), Packaged Medicaments ($1.21B), and Petroleum Gas ($820M).

Destinations: Bulgaria exports mostly to Germany ($5.32B), Italy ($2.95B), Romania ($2.77B), Turkey ($2.7B), and Greece ($2.11B), and imports mostly from Germany ($4.47B), Russia ($3.21B), Italy ($2.77B), Romania ($2.54B), and Turkey ($2.48B).

Location: Bulgaria borders Greece, North Macedonia, Romania, Serbia, and Turkey by land.

Product Trade

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Product Exports

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Depth
Value

Top Export (2018): Refined Petroleum, $1.92B

Top Destination (2018): Germany, $5.32B

In 2018 Bulgaria exported a total of $34B, making it the number 63 exporter in the world. During the last five reported years the exports of Bulgaria have changed by $3.82B from $30.1B in 2013 to $34B in 2018.

The most recent exports are led by Refined Petroleum ($1.92B), Refined Copper ($1.28B), Raw Copper ($1.08B), Packaged Medicaments ($989M), and Wheat ($886M). The most common destination for the exports of Bulgaria are Germany ($5.32B), Italy ($2.95B), Romania ($2.77B), Turkey ($2.7B), and Greece ($2.11B).

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Product Imports

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Depth
Value

Top Import (2018): Copper Ore, $2.82B

Top Origin (2018): Germany, $4.47B

In 2018 Bulgaria imported $38.3B, making it the number 60 trade destination in the world. During the last five reported years the imports of Bulgaria changed by $3.15B from $35.1B in 2013 to $38.3B in 2018.

The most recent imports of Bulgaria are led by Copper Ore ($2.82B), Crude Petroleum ($2.65B), Cars ($1.36B), Packaged Medicaments ($1.21B), and Petroleum Gas ($820M). The most common import partners for Bulgaria are Germany ($4.47B), Russia ($3.21B), Italy ($2.77B), Romania ($2.54B), and Turkey ($2.48B).

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Monthly Trade

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Market Growth

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Service Trade

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Service Trade

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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).

Forecasts

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Trade Forecasts

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This section shows forecasts for total product exports and imports for Bulgaria. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs

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Tariffs by Product

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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.

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*The tariffs applied to imports for Bulgaria are:
109: Caribbean Forum (CARIFORUM) - European Union Economic Partnership Agreements (EPA)
119: Customs Union between EU and Turkey
121: Economic Partnership Agreement (EPA) between the EU and the Southern African Development Community (SADC) EPA Group
122: EU preferential tariff for sugar producing countries
123: European Union Generalized System of Preference
124: European Union GSP for Least Developed Countries
136: Most Favoured Nation duty rate treatement
160: Preferential tariff for Albania
161: Preferential tariff for Algeria
162: Preferential tariff for Andorra
172: Preferential tariff for Bosnia and Herzegovina
177: Preferential tariff for Cameroon
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
182: Preferential tariff for Chile
189: Preferential tariff for Colombia
205: Preferential tariff for Ecuador
206: Preferential tariff for Egypt
209: Preferential tariff for EPA countries
218: Preferential tariff for European Union countries
222: Preferential tariff for Faroe Islands
223: Preferential tariff for Fiji
224: Preferential tariff for for occupied Palestinian territory
226: Preferential tariff for Georgia
227: Preferential tariff for Ghana
238: Preferential tariff for Iceland
239: Preferential tariff for India
244: Preferential tariff for Israel
247: Preferential tariff for Jordan
249: Preferential tariff for Korea, Republic of
255: Preferential tariff for Lebanon
258: Preferential tariff for Liechtenstein
262: Preferential tariff for Macedonia
270: Preferential tariff for Mexico
272: Preferential tariff for Montenegro
273: Preferential tariff for Morocco
281: Preferential tariff for Norway
283: Preferential tariff for Overseas Countries and Territories
284: Preferential tariff for Pakistan
287: Preferential tariff for Papua New Guinea
289: Preferential tariff for Peru
293: Preferential tariff for San Marino
295: Preferential tariff for Selected Eastern and Southern African countries(Madagascar, Mauritius, Seychelles and Zimbabwe)
299: Preferential tariff for Singapore
302: Preferential tariff for South Africa
306: Preferential tariff for Switzerland
308: Preferential tariff for Syria
318: Preferential tariff for the republic of Moldova
321: Preferential tariff for Tunisia
325: Preferential tariff for Ukraine
341: Preferential tariffs for countries benefiting from the special incentive arrangement for sustainable development and good governance

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Bulgaria's⁩ ⁨economy has become relatively less complex, moving from the ⁩⁨45th to the 47th⁩ 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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Most Specialized Products by RCA Index

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Bulgaria has a high level of specialization in Sunflower Seeds (60.2), Raw Copper (47.3), Precious Metal Ore (39.3), Copper Plating (23.8), and Non-Retail Combed Wool Yarn (23.3). Specialization is measured using RCA, an index that takes the ratio between Bulgaria observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Bulgaria according to the product complexity index (PCI) are Lathes for removing metal (1.9), Taps, cocks, valves for pipes, tanks, boilers, etc (1.49), Equipment to measure fluid flow, level, pressure, etc (1.4), Millstones, grinding stones and grinding wheels (1.38), and Pumps for liquids (1.38). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Bulgaria according to the relatedness index, are Molasses (0.38), Gravel and Crushed Stone (0.38), Bedspreads (0.38), Equine and Bovine Hides (0.38), and Other Wood Articles (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.

Product Space

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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.

Diversification Frontier

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Depth
Filter

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.

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