Bulgarian Geography
click to edit
Industries
Other characteristics
History
Economic statistics
Manufacturing & Construction
Energy
Service & Tourism
Agriculture, Forest, & Fishing
Mining & Minerals
1888-1945
Socialism era
Post Socialism
2000-2008
2010-2020
Pandemic
Unemployment rate
Demographic crisis
Corruption
Trade partners
Gross Domestic Product (GDP)
GDP per capita
Labor Force
Unemployment rate
Inflation
Focus during the socialist era
Development plummeted in the 90's
But started growing again since the 2000's
Production of biochemicals and computers
Big IT sector in Bulgaria
Local processing of foods and tobacco
Not fit for European markets and therefore suffered a big loss after the collapse of the Soviet Union
Uneven performance of individual manufacturing markets
Also decreasing since the collapse of the Soviet Union (market and buyers have shrincked)
Main crops that are produced
Wheat
Corn
Barley
Main industrial crops
Sugar beets
Sunflowers
Tobacco
Big exports of rose oil
Increasing production of wine
Growing fish industry
Trout
Sturgeon
Turbot
Bluefish
Bonito
Bream
Very little reserves of oil and natural gas
Bulgaria relies on imports (from Russia for example)
Coal and hydro-powered sources of electricity production
Nuclear energy production
Kozloduy
Increase of energy conservation practices
Increase in the energy production needs
Increase in renewable energy production
Wind energy
Solar energy
Declining industry (since the end of socialism)
Less than 5% of Bulgaria's GDP
Deposits of
Iron ore
Manganese ore
Copper ore
Chromium ore
Gold ore
Bulgaria - still one of the top mining countries in Europe
No one else is doing it
Black sea resorts developed during the socialist era
Tourists from Russia
Steady growth in the recent years
Tourists from Greece, Romania, Germany
Revenue nearly doubled since socialist rule
38th in the world in the tourism sector
Recovery from the Ottoman rule
Economy military bound to Germany
Strong industrialisation
Continued industrialisation
Decreasing private market
State owned economy
Development of tourism and transport (railroad and airline transport)
Economic and political stability in the beginning
Experimentation in the late 80's, which lead to economic contraction
Crisis
Going back to a free market economy
Introduction of the currency board
Shortage of necessities and hyperinflation in the winter of 1996/97
"The lost decade"
Steady growth (of about 6% per year)
Banking and foreign investments
Recession of 2008
Economy affected by the eurozone crisis
Stability and slow growth (up until the pandemic)
Increased household consumption
Decreased, yet positive growth at the beginning of the pandemic (0.4% in the first quarter of 2020)
Economic recession
Below the EU average in 2019
Bulgaria – 4.2% unemployment (2019)
EU average – 6.8% unemployment
Many people leaving the country
2 000 000 left by 2011
Affects the economic and social development of the country
Less professionals in many spheres
Healthcare (nurses and doctors)
Universities and schools (lecturers and teachers)
IT professioanls
Bribery, kickbacks, embezzlement, etc.
Highest levels of corruption in the EU
Many businesses see corruption as widespread (over 85%)
Over 50% of them see it as a big problem
Inadequate punishments for corruption
Trade with the Soviet Union (before), Russia, Turkey, China and other EU countries
Imports of petroleum oils, copper ores, medicaments, cars, petroleum gasses
Exports of refined and unrefined copper, medicaments, wheat, etc.
Free Market economy
Business and firms owned by the private sector
Incentive for growth - profit
Effects of supply and demand
Strive to be efficient and effective
Income differences and wealth inequality
Value of all the goods and services that have been produced within Bulgaria's territory in a year
≈ 133 billion leva
The GDP divided by the population
GDP per capita: 19,192.32 leva
Number of people that are able to work, work, or are looking for work
3 290 300 people
Number of people that are not working and are not looking for work
5.1% of the poppulation
The rate at which prices of goods and services rise within a year
3.3%