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2023
Flag → Flag
Exports $895kRnk 150 / 200
2023
Flag → Flag
Top Product $360kElectrical Capacitors
2023
Flag → Flag
Exports $31.8kRnk 140 / 156
2023
Flag → Flag
Top Product $18.6kPearl Products
2023
Flag
Economic Complexity (ECI) ECI 0.69Rnk 38 / 132
2023
Flag
Economic Complexity (ECI) ECI -1.15Rnk 117 / 132
2023
Flag  
GDP$102BCURRENT US$
Rnk 69 / 195
2013-2023
Flag
GDP GROWTH83.4%CURRENT US$
Rnk 30 / 195
2023
Flag
 GDP$15.8BCURRENT US$
Rnk 134 / 195
2013-2023
Flag
GDP GROWTH27.1%CURRENT US$
Rnk 120 / 195
2023
Flag
GDP PC $15,886CURRENT US$
Rnk 72 / 195
2013-2023
Flag
GDP PC GROWTH107%CURRENT US$
Rnk 6 / 195
2023
Flag
GDP PC$506CURRENT US$
Rnk 192 / 196
2013-2023
Flag
GDP PC GROWTH-1.77%CURRENT US$
Rnk 155 / 195

About

Bulgaria-Madagascar Trade: In 2023, Bulgaria exported $895k to Madagascar. The main products that Bulgaria exported to Madagascar were Electrical Capacitors ($360k), Non-woven Textiles ($169k), and Vaccines, blood, antisera, toxins and cultures ($160k). Over the past 5 years the exports of Bulgaria to Madagascar have increased at an annualized rate of 2.97%, from $773k in 2018 to $895k in 2023.

In 2023, Bulgaria did not export any services to Madagascar.

Madagascar-Bulgaria Trade: In 2023, Madagascar exported $31.8k to Bulgaria. The main products that Madagascar exported to Bulgaria were Pearl Products ($18.6k), Vanilla ($12k), and Precious Stones ($700). Over the past 5 years the exports of Madagascar to Bulgaria have decreased at an annualized rate of 37.7%,  from $340k in 2018 to $31.8k in 2023.

In 2023, Madagascar did not export any services to Bulgaria.

Comparison: In 2023,  Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B). That same year, Madagascar ranked 117 in the Economic Complexity Index (ECI -1.15), and 133 in total exports ($4.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Bulgaria exported $895k to Madagascar. The main products exported from Bulgaria to Madagascar were Electrical Capacitors ($360k), Non-woven Textiles ($169k), and Vaccines, blood, antisera, toxins and cultures ($160k). During the last 5 years the exports of Bulgaria to Madagascar have increased at an annualized rate of 2.97%, from $773k in 2018 to $895k in 2023.

In 2018, Madagascar exported $31.8k to Bulgaria. The main products exported from Madagascar to Bulgaria were Pearl Products ($18.6k), Vanilla ($12k), and Precious Stones ($700). During the last 5 years the exports of Madagascar to Bulgaria have decreased at an annualized rate of 37.7%, from $340k in 2023 to $31.8k in 2018.

Exports from Bulgaria (Flag) to Madagascar (Flag) (2023)

Exports from Madagascar (Flag) to Bulgaria (Flag) (2023)

Latest Data

Trade between Bulgaria (Flag) and Madagascar (Flag)

Bulgaria Exports

Madagascar Exports

Market Competitiveness

Color
Bulgaria
Top DestinationGermany$6.84B
Madagascar
Top DestinationUnited States$669M

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

In 2023, countries that imported more from Bulgaria than Madagascar included Germany ($6.84B), Romania ($5.63B), and Italy ($4.06B).

In 2023, countries that imported more from Madagascar than Bulgaria included Japan ($345M), Mauritius ($46.5M), and South Korea ($271M).

Difference in imports from Madagascar (Flag) and Bulgaria (Flag) (2023)

Comparative Advantage Bulgaria - Madagascar

Flow
Scale

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

During 2023, Bulgaria had a large net trade with Madagascar in the exports of Machines ($404k), Textiles ($205k), and Chemical Products ($170k).

During 2018, Madagascar had a large net trade with Bulgaria in the exports of Precious Metals ($19.3k), Vegetable Products ($12k), and Wood Products ($458).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Bulgaria Madagascar+$99.1kOther Edible Preparations
Top Product Potential Madagascar Bulgaria+$15.6kPrecious Stones

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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Economic Complexity

Competitive Landscape

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

Product Space of Bulgaria (Flag) and Madagascar (Flag) (2023)

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