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Bulgaria

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Economy Overview

Bulgaria, a former communist country striving to enter the European Union, has experienced macroeconomic stability and strong growth since a major economic downturn in 1996 led to the fall of the then socialist government. As a result, the government became committed to economic reform and responsible fiscal planning. A $300 million stand-by agreement negotiated with the IMF at the end of 2001 has supported government efforts to overcome high rates of poverty and unemployment.

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

41.38 billion kWh (2001)

Electricity production by source

Fossil fuel: 47.8%

Hydro: 8.1%

Other: 0% (2001)

Nuclear: 44.1%

Electricity Consumption

32.52 billion kWh (2001)

Electricity Exports

6.79 billion kWh (2001)

Electricity Imports

830 million kWh (2001)

Currency

lev (BGL)

Unemployment Rate

18% (2002 est.)

Population Below Poverty Line

12.6% (2001 est.)

Household Income or Consumption by Percentage Share

Lowest 10%: 4.5%

Highest 10%: 22.8% (1997)

Distribution of Family Income Gini Index

26.4 (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 (yearend 2002)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

Exchange rates: leva per US dollar - 2.08 (2002), 2.18 (2001), 2.12 (2000), 1.84 (1999), 1.76 (1998)

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

Fiscal Year

  • calendar year

GDP Purchasing Power Parity

    Purchasing power parity - $49.23 billion (2002 est.)

GDP Real Growth Rate

    4.8% (2002 est.)

GDP Per Capital

    Purchasing power parity - $6,500 (2002 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

  • Agriculture
    13.7%
  • Industry
    28.5%
  • Services
    57.9% (2001)

Inflation Rate Consumer Prices

    5.9% (2002 est.)

Current Account Balance

Exports

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

Exports Partners

  • Italy
    15.5%
  • Germany
    9.6%
  • Turkey
    9.4%
  • Greece
    9.2%
  • France
    5.3%
  • US
    4.8%

Exports Commodities

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

Imports

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

Imports Partners

  • Russia
    14.6%
  • Germany
    14.4%
  • Italy
    11.4%
  • Greece
    6.1%
  • France
    5.7%
  • Turkey
    5%

Imports Commodities

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