Georgia (GEO) and Bulgaria (BGR) Trade | The Observatory of Economic Complexity

About

Georgia-Bulgaria Trade: In 2023, Georgia exported $325M to Bulgaria. The main products that Georgia exported to Bulgaria were Copper Ore ($281M), Nitrogenous Fertilizers ($27.5M), and Petroleum Gas ($2.75M). Over the past 5 years the exports of Georgia to Bulgaria have decreased at an annualized rate of 3.16%, from $382M in 2018 to $325M in 2023.

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

Bulgaria-Georgia Trade: In 2023, Bulgaria exported $229M to Georgia. The main products that Bulgaria exported to Georgia were Refined Petroleum ($96.9M), Packaged Medicaments ($10.4M), and Video and Card Games ($9.04M). Over the past 5 years the exports of Bulgaria to Georgia have increased at an annualized rate of 4%, from $188M in 2018 to $229M in 2023.

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

Comparison: In 2023, Georgia ranked 55 in the Economic Complexity Index (ECI 0.13), and 123 in total exports ($6.39B). That same year, Bulgaria ranked 38 in the Economic Complexity Index (ECI 0.69), and 59 in total exports ($50.6B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Georgia exported $325M to Bulgaria. The main products exported from Georgia to Bulgaria were Copper Ore ($281M), Nitrogenous Fertilizers ($27.5M), and Petroleum Gas ($2.75M). During the last 5 years the exports of Georgia to Bulgaria have decreased at an annualized rate of 3.16%, from $382M in 2018 to $325M in 2023.

In 2018, Bulgaria exported $229M to Georgia. The main products exported from Bulgaria to Georgia were Refined Petroleum ($96.9M), Packaged Medicaments ($10.4M), and Video and Card Games ($9.04M). During the last 5 years the exports of Bulgaria to Georgia have increased at an annualized rate of 4%, from $188M in 2023 to $229M in 2018.

Exports from Georgia () to Bulgaria () (2023)

Exports from Bulgaria () to Georgia () (2023)

Latest Data

Trade between Georgia () and Bulgaria ()

Georgia Exports

Date

Bulgaria Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Georgia
Top DestinationAzerbaijan$828M

Bulgaria
Top DestinationGermany$6.84B

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

In 2023, countries that imported more from Georgia than Bulgaria included Azerbaijan ($828M), Armenia ($712M), and Kyrgyzstan ($519M).

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

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

Comparative Advantage Georgia - Bulgaria

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Georgia had a large net trade with Bulgaria in the exports of Mineral Products ($284M), Chemical Products ($29.6M), and Textiles ($5.14M).

During 2018, Bulgaria had a large net trade with Georgia in the exports of Mineral Products ($101M), Machines ($35.2M), and Chemical Products ($26.1M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Georgia Bulgaria+$713kFerroalloys

Top Product Potential Bulgaria Georgia+$2.47MCars

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

Year

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

About

Historical Data

Bilateral Trade by Products

Exports from Georgia () to Bulgaria () (2023)

Exports from Bulgaria () to Georgia () (2023)

Latest Data

Trade between Georgia () and Bulgaria ()

Georgia Exports

Bulgaria Exports

Market Competitiveness

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

Comparative Advantage Georgia - Bulgaria

Potential Exports

Potential Exports

Subscribe today to OEC pro and access the latest data

Subscribe today to OEC pro and access the latest data

Economic Complexity

Competitive Landscape

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

Keep Exploring