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World > Europe > Bulgaria > Economy (Facts)

Bulgaria - Economy (Facts)
Economy - overview: Bulgaria, a former communist country that entered the EU on 1 January 2007, 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. Minerals, including coal, copper, and zinc, play an important role in industry. In 1997, macroeconomic stability was reinforced by the imposition of a fixed exchange rate of the lev against the German D-mark - the currency is now fixed against the euro - and the negotiation of an IMF standby agreement. Low inflation and steady progress on structural reforms improved the business environment; Bulgaria has averaged 5.1% growth since 2000 and has begun to attract significant amounts of foreign direct investment. Corruption in the public administration, a weak judiciary, and the presence of organized crime remain the largest challenges for Bulgaria.
GDP - real growth rate: 6.3% (2006 est.)
GDP (purchasing power parity): $78.68 billion (2006 est.)
GDP (official exchange rate): $28.06 billion (2006 est.)
GDP - per capita (PPP): $10,700 (2006 est.)
GDP - composition by sector: agriculture: 13.6%
industry: 32.1%
services: 54.3% (2006 est.)
Population below poverty line: 14.1% (2003 est.)
Household income or consumption by percentage share: lowest 10%: 2.9%
highest 10%: 25.4% (2005)
Inflation rate (consumer prices): 6.5% (2006 est.)
Labor force: 3.51 million (30 September 2006 est.)
Labor force - by occupation: agriculture: 8.5%
industry: 33.6%
services: 57.9% (2nd qtr. 2006 est.)
Unemployment rate: 9.6% (2006 est.)
Budget: revenues: $13.28 billion
expenditures: $12.16 billion; including capital expenditures of NA (2006 est.)
Industries: electricity, gas, water; food, beverages, tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel
Industrial production growth rate: 11.3% (Third Quarter, 2006 est.)
Electricity - production: 45.7 billion kWh (2006)
Electricity - consumption: 37.4 billion kWh (2006)
Electricity - exports: 7.8 billion kWh (2006)
Electricity - imports: 0 kWh (2006)
Oil - production: 3,000 bbl/day (2005 est.)
Oil - consumption: 131,400 bbl/day (2005 est.)
Oil - exports: 51,000 bbl/day (2005 est.)
Oil - imports: 138,800 bbl/day (2004 est.)
Oil - proved reserves: 15 million bbl (1 January 2006)
Natural gas - production: 407,000 cu m (2005 est.)
Natural gas - exports: 0 cu m (2005 est.)
Natural gas - imports: 3.065 billion cu m (2005 est.)
Agriculture - products: vegetables, fruits, tobacco, wine, wheat, barley, sunflowers, sugar beets; livestock
Exports: $15.5 billion f.o.b. (2006 est.)
Exports - commodities: clothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partners: Turkey 10.8%, Italy 10.1%, Germany 9.9%, Greece 8.2%, Belgium 6.4% (2006)
Imports: $23.8 billion f.o.b. (2006 est.)
Imports - commodities: machinery and equipment; metals and ores; chemicals and plastics; fuels, minerals, and raw materials
Imports - partners: Russia 16.8%, Germany 12.4%, Italy 8.7%, Turkey 6.4%, China 5.4%, Greece 5.1% (2006)
Debt - external: $24.3 billion (30 November 2006 est.)
Economic aid - recipient: $742 million (2005-06 est.)
Currency: Bulgarian Lev (BGN)

Current Bulgarian Lev Exchange Rates
Historical Bulgarian Lev Exchange Rates
Chart Bulgarian Lev Exchange Rates
Currency code: BGN
Exchange rates: leva per US dollar - 1.5576 (2006), 1.5741 (2005), 1.5751 (2004), 1.7327 (2003), 2.077 (2002)
Fiscal year: calendar year


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions - Bulgarian Lev Exchange Rates
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions
Bulgarian Lev Exchange Rates


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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