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Bulgaria – country profile Economic overview of Bulgaria 6 March 2014
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Focus on Bulgaria Member of EU, NATO and WTO Strategic geographical location and openness to foreign markets: crossroad between Europe, Asia and Africa Competitive labour cost and favourable taxes in the EU BBB-Negative 13.12.2013 Baa2-Stable 22.07.2011 BULGARIA SOVEREIGN CREDIT RATINGS
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Economic structure GDP: High growth, small contraction in 2009, moderate pace after 2010 Rapidly growing GDP per capita Source: EurostatSource: National Statistical Institute
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Economic structure (2) Diversified structure of GDP Source: National Statistical Institute
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Financial stability Bulgaria has one of the lowest budget deficit (-0.8%) – 6 th place in the EU Source: National Statistical Institute
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Financial stability (2) Bulgaria has the SECOND lowest government debt (18.5%) in EU Source: National Statistical Institute
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Export and Import of goods Significant increase in export – average over 11% yearly TOP 10 Bulgarian partners in Export and in Imports Source: Bulgarian National Bank 2012, Million Euro ExportImport
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Export and Import of goods (2) Source: National Statistical Institute Largest share of manufactured goods, fuels and machinery
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Export and Import of goods (3) 2 nd place Sunflower seeds 3 rd place Unrefined copper 4 th place Zinc plates and foil 8 th place Yarn of wool 10 th place Unwrought lead 11 th place Wheat 12 th place Vermouth & grape wine flavoured with substances IN WORLD EXPORT OF Source: Intracen, 2012 BULGARIA RANKS
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Foreign direct investment FDI flows in 2012 amounted about 1,5 Billon Euro Source: Bulgarian National Bank
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Competitiveness After accession of Bulgaria to the EU, the country’s position has improved - 22 places up Source: World Economic Forum
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Taxation Bulgaria is the 7 th least tax burden country in Forbes ranking of “Tax misery and Reform Index”
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Labour cost Bulgaria has the most competitive labour cost in EU Source: Eurostat
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Internet speed Bulgaria ranks 8 th place in top-speed internet access according to Akamai's World Report Q1 2013
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Bulgarian Chamber of Commerce and Industry 9 Iskar str., 1058 Sofia, Bulgaria Tel: (+359 2) 8117 400 Fax: (+359 2) 987 32 09 Web site: www.bcci.bg E-mail: bcci@bcci.bg Thank you for attention! Tsvetan Simeonov President of the BCCI
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