Bulgaria (BGR) and Italy (ITA) Trade | The Observatory of Economic Complexity

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Bulgaria-Italy Trade: In 2023, Bulgaria exported $4.06B to Italy. The main products that Bulgaria exported to Italy were Refined Copper ($969M), Industrial Fatty Acids, Oils and Alcohols ($232M), and Glass Bottles ($150M). Over the past 5 years the exports of Bulgaria to Italy have increased at an annualized rate of 6.98%, from $2.9B in 2018 to $4.06B in 2023.

In 2020, Bulgaria exported services to Italy worth $189M, with Transportation ($99.4M), Travel ($41.7M), and Other business services ($28.6M) being the largest in terms of value.

Italy-Bulgaria Trade: In 2023, Italy exported $3.15B to Bulgaria. The main products that Italy exported to Bulgaria were Silver ($155M), Cars ($87.2M), and Packaged Medicaments ($83.4M). Over the past 5 years the exports of Italy to Bulgaria have increased at an annualized rate of 4.17%, from $2.57B in 2018 to $3.15B in 2023.

In 2020, Italy exported services to Bulgaria worth $221M, with Transportation ($67.3M), Travel ($53.1M), and Other business services ($47.1M) being the largest in terms of value.

Comparison: In 2023, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Bulgaria exported $4.06B to Italy. The main products exported from Bulgaria to Italy were Refined Copper ($969M), Industrial Fatty Acids, Oils and Alcohols ($232M), and Glass Bottles ($150M). During the last 5 years the exports of Bulgaria to Italy have increased at an annualized rate of 6.98%, from $2.9B in 2018 to $4.06B in 2023.

In 2018, Italy exported $3.15B to Bulgaria. The main products exported from Italy to Bulgaria were Silver ($155M), Cars ($87.2M), and Packaged Medicaments ($83.4M). During the last 5 years the exports of Italy to Bulgaria have increased at an annualized rate of 4.17%, from $2.57B in 2023 to $3.15B in 2018.

Exports from Bulgaria () to Italy () (2023)

Exports from Italy () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Italy ()

Bulgaria Exports

Date

Italy Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Bulgaria
Top DestinationGermany$6.84B

Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Bulgaria than Italy included North Macedonia ($581M), Saint Martin ($1.74M), and Sao Tome and Principe ($1.36M).

In 2023, countries that imported more from Italy than Bulgaria included United States ($70.9B), Germany ($71.4B), and France ($61.1B).

Difference in imports from Italy () and Bulgaria () (2023)

Comparative Advantage Bulgaria - Italy

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Bulgaria had a large net trade with Italy in the exports of Metals ($1.42B), Machines ($619M), and Textiles ($498M).

During 2018, Italy had a large net trade with Bulgaria in the exports of Machines ($776M), Metals ($386M), and Textiles ($334M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Bulgaria Italy+$59.9MRefined Petroleum

Top Product Potential Italy Bulgaria+$50.7MPackaged 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

Ita Year

Bgr Year

In 2020, Bulgaria exported services to Italy worth $189M, with Transportation ($99.4M), Travel ($41.7M), and Other business services ($28.6M) being the largest in terms of value.

In 2020, Italy exported services to Bulgaria worth $221M, with Transportation ($67.3M), Travel ($53.1M), and Other business services ($47.1M) being the largest in terms of value.

Service trade data is presented based on availability.

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

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

Service Trade

Economic Complexity

Competitive Landscape

Year

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

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Historical Data

Bilateral Trade by Products

Exports from Bulgaria () to Italy () (2023)

Exports from Italy () to Bulgaria () (2023)

Latest Data

Trade between Bulgaria () and Italy ()

Bulgaria Exports

Italy Exports

Market Competitiveness

Difference in imports from Italy () and Bulgaria () (2023)

Comparative Advantage Bulgaria - Italy

Potential Exports

Potential Exports

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Bilateral Service Trade

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

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

Service Trade

Economic Complexity

Competitive Landscape

Product Space of Bulgaria () and Italy () (2023)

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