Economy of Bulgaria

The World Bank classifies the Bulgarian economy as an upper middle income economy. The country’s economy has registered steady growth in the recent past, although it still remains one of the least developed countries in Europe.

In Bulgaria, the exported commodities include clothing, footwear, Iron and steel, Machinery and equipment, and fuel. The major export partners include Greece, Germany, Turkey, Italy, Romania, Belgium and France.

The county’s imported commodities include machinery and equipment, metals and ores, chemicals, plastics, fuels, minerals and raw materials. Bulgaria’s major import partners are Russia, Germany, Italy, Ukraine, Romania, Turkey, Greece and Austria. 

Main Industries in Bulgaria

• Bulgaria has rich mineral deposits and an efficient work force. The nation is amongst Europe’s largest producers of lead, zinc and copper. Bulgaria’s industry sectors specialize in skilled engineering products and produce almost 10% of the world’s hydraulic machinery.  
• Bulgaria produces a number of raw materials along with processed commodities, such as Iron, Copper, and Gold, Bismuth, Coal, Electronics, Refined petroleum fuels, vehicle components, weapons and construction materials.
• The two big sectors of Bulgarian industry are energy and metallurgy. And the country is the largest exporter of electricity in south-eastern Europe.  

Latest Developments in Bulgaria

• Bulgaria's economy is estimated to expand by 1.8% in 2013, down from its earlier forecast at 2.5%, as per the reports given by World Bank.
• Bulgarian per capita consumer spending is forecast to increase by a modest 17% between 2013 and 2017, compared with a regional growth average of 33%.

MNCs and Other Big Companies Operating in Bulgaria

Some of the big companies that are operating in Bulgaria are BTC (Bulgarian Telecommunications Company), Bulgargaz JSC, Bulgartabak Holding, First Investment Bank, Hemus Air Ltd, Kremikovtsi, Maritza East III, Mobiltel, Neftochim Burgas, Public institution, REB, and Topenergo.