Bulgaria2021 Economic Complexity Trade : 0.63, Rank 40 of 131
2021 Economic Complexity Technology : 0.34, Rank 44 of 96
2021 Economic Complexity Research : -0.36, Rank 85 of 140
2021 Product Exports | Imports: $43.3B | $45.8B, 59 of 226 | 59 of 226
2021 Per Capita Product Exports | Imports: $6.27k | $6.64k, 70 of 219 | 77 of 219
Overview In 2021, Bulgaria was the number 66 economy in the world in terms of GDP (current US$), the number 59 in total exports, the number 59 in total imports, the number 62 economy in terms of GDP per capita (current US$) and the number 40 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Bulgaria are Refined Copper ($1.8B), Wheat ($1.49B), Electricity ($1.19B), Refined Petroleum ($1.13B), and Packaged Medicaments ($1.06B), exporting mostly to Germany ($6.2B), Romania ($4.36B), Greece ($3.55B), Italy ($3.42B), and Turkey ($2.57B).
In 2021, Bulgaria was the world's biggest exporter of Iron Pyrites ($41M)
Imports The top imports of Bulgaria are Copper Ore ($1.96B), Petroleum Gas ($1.62B), Crude Petroleum ($1.55B), Cars ($1.45B), and Packaged Medicaments ($1.43B), importing mostly from Germany ($5.27B), Turkey ($3.89B), Greece ($3.48B), Romania ($3.45B), and Italy ($2.98B).
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.
Top Export (2021): Refined Copper, $1.8B
Top Destination (2021): Germany, $6.2B
In 2021, Bulgaria exported a total of $43.3B, making it the number 59 exporter in the world. During the last five reported years the exports of Bulgaria have changed by $15.5B from $27.8B in 2016 to $43.3B in 2021.
The most recent exports are led by Refined Copper ($1.8B), Wheat ($1.49B), Electricity ($1.19B), Refined Petroleum ($1.13B), and Packaged Medicaments ($1.06B). The most common destination for the exports of Bulgaria are Germany ($6.2B), Romania ($4.36B), Greece ($3.55B), Italy ($3.42B), and Turkey ($2.57B).
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 (71), Precious Metal Ore (32.9), Raw Copper (30.2), Non-Retail Combed Wool Yarn (26), and Copper Plating (24.1). 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 Machining centres, unit construction machines (single station) and multi-station transfer machines for working metal (2.18), Lathes for removing metal (1.66), Copper foil (whether or not printed or backed with paper, paperboard, plastics or similar backing materials) of a thickness (excluding any backing) not exceeding 0.15mm (1.35), Taps, cocks, valves and similar appliances for pipes, boiler shells, tanks, vats or the like, including pressure-reducing valves and thermostatically controlled valves (1.34), and Organo-sulphur compounds (1.28). 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, were Locust beans, seaweed, sugar beet, cane, for food (0.38), Fruit Juice (0.38), Other Footwear (0.38), Pasta (0.37), and Molasses (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 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 40th 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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