Bulgaria Economy
Economy - overviewBulgaria, 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.
GDP
purchasing power parity - $57.13 billion (2003 est.)
GDP - real growth rate
4.3% (2003 est.)
GDP - per capita
purchasing power parity - $7,600 (2003 est.)
GDP - composition by sector
agriculture: 11.4%
industry: 30%
services: 58.6% (2003)
Investment
19.6% of GDP (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)
Inflation rate
2.3% (2003 est.)
Labor force
3.333 million (2003 est.)
Labor force - by occupation
agriculture 26%, industry 31%, services 43% (1998 est.)
Unemployment rate
14.3% (2003)
Budget
revenues: $8.121 billion
expenditures: $8.121 billion, including capital expenditures of NA (2003 est.)
Public debt
48% of GDP (2003)
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.)
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)
Oil - production
603 bbl/day (2001 est.)
Oil - consumption
94,000 bbl/day (2001 est.)
Oil - exports
NA (2001)
Oil - imports
NA (2001)
Oil - proved reserves
8.1 million bbl (1 January 2002)
Natural gas - production
4 million cu m (2001 est.)
Natural gas - consumption
5.804 billion cu m (2001 est.)
Natural gas - exports
0 cu m (2001 est.)
Natural gas - imports
5.8 billion cu m (2001 est.)
Natural gas - proved reserves
3.724 billion cu m (1 January 2002)
Current account balance
$-1.666 billion (2003)
Exports
$7.337 billion f.o.b. (2003 est.)
Exports - commodities
clothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partners
Italy 14.1%, Germany 10.9%, Greece 10.5%, Turkey 9.2%, France 5.1%, US 4.5% (2003)
Imports
$9.723 billion f.o.b. (2003 est.)
Imports - commodities
fuels, minerals, and raw materials; machinery and equipment; metals and ores; chemicals and plastics; food, textiles
Imports - partners
Germany 14.4%, Russia 12.6%, Italy 10.3%, Greece 6.7%, Turkey 6.2%, France 5.7% (2003)
Reserves of foreign exchange & gold
$6.705 billion (2003)
Debt - external
$12.05 billion (2003)
Currency
lev (BGL)
Currency code
BGN
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
