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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

6.3% (2003 est.)

Labor Force

3.333 million (2003 est.)

Electricity production

41.38 billion kWh (2001)

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

14.3% (2003)

Population Below Poverty Line

13.4% (2002 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: $8.121 billion

Expenditures: $8.121 billion, including capital expenditures of NA (2003 est.)

Public Debt

48% of GDP (2003)

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

$12.05 billion (2003)

Stock of Direct Foreign Investment at Home

Stock of Direct Foreign Investment Abroad

Exchange Rates

Exchange rates: leva per US dollar - 1.7327 (2003), 2.077 (2002), 2.1847 (2001), 2.1233 (2000), 1.8364 (1999)

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 - $57.13 billion (2003 est.)

GDP Real Growth Rate

4.3% (2003 est.)

GDP Per Capital

Purchasing power parity - $7,600 (2003 est.)

Gross National Saving

GDP Composition by end Use

GDP Composition by Sector of Origin

Agriculture
11.4%
Industry
30%
Services
58.6% (2003)

Inflation Rate Consumer Prices

2.3% (2003 est.)

Current Account Balance

$-1.666 billion (2003)

Exports

$7.337 billion f.o.b. (2003 est.)

Exports Partners

Italy
14.1%
Germany
10.9%
Greece
10.5%
Turkey
9.2%
France
5.1%
US
4.5%

Exports Commodities

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

Imports

$9.723 billion f.o.b. (2003 est.)

Imports Partners

Germany
14.4%
Russia
12.6%
Italy
10.3%
Greece
6.7%
Turkey
6.2%
France
5.7%

Imports Commodities

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

Bulgaria