2023
Flag  
GDP
$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH
92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP
$102BCURRENT US$
Rnk 69 / 195
2013-2023
Flag
GDP GROWTH
83.4%CURRENT US$
Rnk 30 / 195
2023
Flag
GDP PC 
$2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH
73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC
$15,886CURRENT US$
Rnk 72 / 196
2013-2023
Flag
GDP PC GROWTH
107%CURRENT US$
Rnk 6 / 195

About

India-Bulgaria Trade: In 2023, India exported $269M to Bulgaria. The main products that India exported to Bulgaria were Nitrogen Heterocyclic Compounds ($21.9M), Other Large Iron Pipes ($18.5M), and Electrical Transformers ($14.2M). Over the past 5 years the exports of India to Bulgaria have increased at an annualized rate of 2.34%, from $239M in 2018 to $269M in 2023.

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

Bulgaria-India Trade: In 2023, Bulgaria exported $239M to India. The main products that Bulgaria exported to India were Seed Oils ($66.2M), Carbonates ($27.9M), and Chemical Analysis Instruments ($10.4M). Over the past 5 years the exports of Bulgaria to India have increased at an annualized rate of 10.5%,  from $145M in 2018 to $239M in 2023.

In 2020, Bulgaria exported services to India worth $14.3M, with Travel ($3.77M), Other business services ($3.43M), and Transportation ($2.86M) being the largest in terms of value.

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). 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
Value

In 2023, India exported $269M to Bulgaria. The main products exported from India to Bulgaria were Nitrogen Heterocyclic Compounds ($21.9M), Other Large Iron Pipes ($18.5M), and Electrical Transformers ($14.2M). During the last 5 years the exports of India to Bulgaria have increased at an annualized rate of 2.34%, from $239M in 2018 to $269M in 2023.

In 2018, Bulgaria exported $239M to India. The main products exported from Bulgaria to India were Seed Oils ($66.2M), Carbonates ($27.9M), and Chemical Analysis Instruments ($10.4M). During the last 5 years the exports of Bulgaria to India have increased at an annualized rate of 10.5%, from $145M in 2023 to $239M in 2018.

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

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

Market Competitiveness

Color
India
Top Destination
United States$85.5B
Bulgaria
Top Destination
Germany$6.84B

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

In 2023, countries that imported more from India than Bulgaria included United States ($85.5B), United Arab Emirates ($28.8B), and China ($18.1B).

In 2023, countries that imported more from Bulgaria than India included Romania ($5.63B), Greece ($3.04B), and Serbia ($1.01B).

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

Comparative Advantage India - Bulgaria

Flow
Scale

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

During 2023, India had a large net trade with Bulgaria in the exports of Metals ($69.4M), Chemical Products ($56.8M), and Machines ($38.9M).

During 2018, Bulgaria had a large net trade with India in the exports of Animal and Vegetable Bi-Products ($66.6M), Chemical Products ($47.6M), and Machines ($43.2M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Bulgaria+$20.3MPackaged Medicaments
Top Product Potential Bulgaria India+$27.1MNitrogenous Fertilizers

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

In 2020, Bulgaria exported services to India worth $14.3M, with Travel ($3.77M), Other business services ($3.43M), and Transportation ($2.86M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Bulgaria (Flag) to India (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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