Economy Overview
Bulgaria, a former Communist country that entered the EU on 1 January 2007, averaged more than 6% growth from 2004 to 2008, driven by significant amounts of foreign direct investment and consumption. Successive governments have demonstrated a commitment to economic reforms and responsible fiscal planning, but the global downturn sharply reduced domestic demand, exports, capital inflows, and industrial production. GDP contracted by approximately 5% in 2009, and stagnated in 2010, despite a significant recovery in exports. The economy is expected to grow modestly in 2011, however. Corruption in the public administration, a weak judiciary, and the presence of organized crime remain significant challenges.
Agriculture Products
vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock
Industries
electricity, gas, water; food, beverages, tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel
Industrial Production Growth Rate
0.4% (2010 est.)country comparison to the world: 153
Labor Force
2.61 million (2010 est.)country comparison to the world: 108
Electricity production
44.83 billion kWh (2008)country comparison to the world: 51
Electricity Consumption
29.9 billion kWh (2008)country comparison to the world: 59
Electricity Exports
5.407 billion kWh (2008)
Electricity Imports
3.097 billion kWh (2008 est.)
Unemployment Rate
9.5% (2010 est.)country comparison to the world: 103 6.3% (2008 est.)
Population Below Poverty Line
14% (2008)
Household Income or Consumption by Percentage Share
Lowest 10%: 2.9%
Highest 10%: 24.1% (2008)
Distribution of Family Income Gini Index
29.8 (2008)country comparison to the world: 114 26.4 (2001)
Public Debt
16.2% of GDP (2010 est.)country comparison to the world: 115 14.8% of GDP (2009 est.)
Central Bank Discount Rate
0.55% (31 December 2009)country comparison to the world: 78 5.77% (31 December 2008)
Commercial Bank Prime Lending Rate
Stock of Narrow Money
$12.7 billion (31 December 2010 est)country comparison to the world: 68 $12.91 billion (31 December 2009 est)
Stock of Broad Money
$35.37 billion (31 December 2010 est.)country comparison to the world: 73 $33.93 billion (31 December 2009 est.)
Stock of Domestic Credit
$34.54 billion (31 December 2010 est.)country comparison to the world: 67 $33.89 billion (31 December 2009 est.)
Market Value of Publicly Traded Shares
$7.103 billion (31 December 2009)country comparison to the world: 69 $8.858 billion (31 December 2008)$21.79 billion (31 December 2007)
Reserves of Foreign Exchange and Gold
$15.07 billion (31 December 2010 est.)country comparison to the world: 47 $18.53 billion (31 December 2009 est.)
Debt External
$36.15 billion (31 December 2010 est.)country comparison to the world: 60 $39.56 billion (31 December 2009 est.)
Stock of Direct Foreign Investment at Home
$51.28 billion (31 December 2010 est.)country comparison to the world: 54 $49.28 billion (31 December 2009 est.)
Stock of Direct Foreign Investment Abroad
$1.372 billion (31 December 2010 est.)country comparison to the world: 70 $1.194 billion (31 December 2009 est.)
Exchange Rates
leva (BGN) per US dollar - 1.5138 (2010), 1.404 (2009), 1.3171 (2008), 1.4366 (2007), 1.5576 (2006)
