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Bulgarian industries and economy - Coggle Diagram
Bulgarian industries and economy
Economy
History
1888-1945
In state of recovery from the Ottoman rule
Declined when Germany started to lose WWII
Military dependent on Germany
Socialist era
Followed the Soviet economic model, which caused an early economic boom
After the initial progression it began to stall and little by little decline
Post Socialism
Free market economy
Inflation was out of control for a brief period - the lost decade
2000 - 2008
Increased due to foreign relations
Heavily affected by the economic crisis of 2008
2010 - 2020
Fixed itself from 2008 in 2010 and continued to grow
Slowed down because of the constant immigration
Pandemic
Grew in 2020 - one of the only countries in the EU to do so
Data
GDP for 2023: 153.13 billion Bulgarian Leva
GDP per capita for 2023: 22,492 Bulgarian Leva
Labor Force for 2023: 3,887,370
Unemployment Rate for 2023: 4.8%
Inflation Rate for 2021: 3.3%
Inflation Rate for 2023: 14.1%
Problems
Imigrant crisis
It impact 3 main spheres in Bulgaria
Education sector
IT sector
Health sector
Corruption
High corruption
46 % funding of political parties in exchange for public contracts or influence over public policy
39 % kickbacks
27 % bribes
85% of businesses in Bulgaria saw corruption as widespread in the country
Inflation
Industries
Manufacturing and Construction
Continues to have steady growth
Began rising again in the 2000s after the fall of the USSR and the economic crisis of the lost decade
Food and Tobacco processing suffered after the loss of the Soviet Union
Uneven market between the individual manufacturing and the bigger ones
Energy
Increase in renewable energy usage
Mostly uses imported oil and gas
A development in conservation practices
Service and Tourism
Black Sea Tourism
Growth since the Socialist Era
A continuous growth
Agriculture, Forest, & Fishing
Since the Socialist Era there is an increase in wine exports and fish farming
Main Crops: wheat, corn, barley
Leader of oil export
Mining & Minerals
Declined since the end of the Socialistic era, due to the transition from a labor based economy to a service based economy.
One of the top mining countries in Europe