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Economy Overview

Bulgaria, a former communist country striving to enter the European Union, has experienced macroeconomic stability and positive growth rates since a major economic downturn in 1996 led to the fall of the then socialist government. A $300 million stand-by agreement negotiated with the IMF at the end of 2001 will help the government maintain economic stability as it seeks to overcome high rates of poverty and unemployment and, at the same time, cut the budget deficit and contain inflation.

Agriculture Products

vegetables, fruits, tobacco, livestock, wine, wheat, barley, sunflowers, sugar beets

Industries

electricity, gas and water; food, beverages and tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel

Industrial Production Growth Rate

2% (2002 est.)

Labor Force

3.83 million (2000 est.)

Electricity production

38.84 billion kWh (2000)

Electricity production by source

Fossil fuel: 48%

Hydro: 8%

Other: 0% (2000)

Nuclear: 44%

Electricity Consumption

34.42 billion kWh (2000)

Electricity Exports

3.2 billion kWh (2000)

Electricity Imports

1.5 billion kWh (2000)

Currency

lev (BGL)

Unemployment Rate

18% (2002 est.)

Population Below Poverty Line

35% (2000 est.)

Household Income or Consumption by Percentage Share

Lowest 10%: 5%

Highest 10%: 23% (1997)

Distribution of Family Income Gini Index

26 (2001)

Budget

Revenues: $5.57 billion

Expenditures: $5.68 billion, including capital expenditures of $NA (2001 est.)

Commercial Bank Prime Lending Rate

Stock of Narrow Money

Stock of Broad Money

Stock of Domestic Credit

Market Value of Publicly Traded Shares

Reserves of Foreign Exchange and Gold

Debt External

$10.3 billion (2001 est.)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

Exchange rates: leva per US dollar - 2.2147 (January 2002), 2.1847 (2001), 2.1233 (2000), 1.8364 (1999), 1,760.36 (1998), 1,681.88 (1997)

Note: on 5 July 1999, the lev was redenominated; the post-5 July 1999 lev is equal to 1,000 of the pre-5 July 1999 lev

Year	2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000

Fiscal Year

calendar year

GDP Purchasing Power Parity

Purchasing power parity - $50.6 billion (2002 est.)

GDP Real Growth Rate

3.4% (2002 est.)

GDP Per Capital

Purchasing power parity - $6,600 (2002 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

Agriculture
14%
Industry
29%
Services
58% (2001)

Inflation Rate Consumer Prices

5.9% (2002 est.)

Current Account Balance

Exports

$5.3 billion f.o.b. (2002 est.)

Exports Partners

Italy
14%
Turkey
10%
Germany
9%
Greece
8%
Serbia
and

Exports Commodities

Clothing, footwear, iron and steel, machinery and equipment, fuels

Imports

$6.9 billion f.o.b. (2002 est.)

Imports Partners

Russia
19.9%
Germany
15.3%
Italy
9.6%
France
6.0%

Imports Commodities

Fuels, minerals, and raw materials; machinery and equipment; metals and ores; chemicals and plastics; food, textiles

Bulgaria