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Bulgarian Industries and Economy - Coggle Diagram
Bulgarian Industries and Economy
Industries in Bulgaria
Service & Tourism
Tourism during the socialist era focused mainly on the development of Black Sea resorts
Tourism and revenue from tourism has increased post socialist era, but it still has place to grow
Agriculture, Forest, and Fishing
Weat, corn, barley - main crops
Bulgaria is the world leader in rose oil export
Decreasing since the end of socialism
Wine export has grown since the end of socialism
Fish farming industry has expanded since the 2000s
Energy
Relies mostly on imported oil and gas
Domestic production of energy includes mostly coal and hydro powered sources, as well as nuclear
Bulgaria is 97th in the world as an oil producing country
Steady increase in renewable sources of energy recently
Mining and Minerals
Less than 5% of Bulgaria’s GDP
Bulgaria is still one of the top mining countries in Europe
The industry has declined since the 2000s
Manufacturing and Construction
Biochemicals and computers much widely produced
The performance of individual manufacturing markets is uneven
There has been growth since the early 2000s
Periods
1888 - 1945
Marked by strong industrialization
Socialism era
Continued to be industrialized
Soviet model of economic development
Post Socialism (1990s)
The lost decade
Inflation
Worsening economic conditions
2000-2008
Reach the heights of the socialism era
2008 - financial crisis
2010-2020
Positive growth
2012 - crisis
Pandemic
Favorable economic conditions
GDP expansion
Second lowest public debt in Europe
Characteristics
Statistics
GDP Per Capita: $17,925
Perceived as the most corrupt state in the EU. This trend tends to decrease.
Nominal GDP: $66,250,000,000 (66.250 billion)
Trading
Imports
Russia, China
Oil, manufacturing goods, etc.
Exports
Turkey, China, other EU countries
Rose oil, wheat, etc.
Main Trading Partners
Turkey, Russia, China, other EU countries
Economic Sector Distribution
Secondary: 27.5%
Tertiary: 67.4%
Primary: 5.1%
Data (from 2021)
1.7 drop in Economic freedom in Bulgaria since 2020 (data from 2023)
GDP: 132.744 leva
GDP per capita: 19,192.32
Labor Force: 3,290,300
Unemployment rate: 5.1%
Inflation rate: 3.3%