Bulgaria flag Bulgaria: Economic and Political Overview

Foreign trade figures of Bulgaria

Foreign Trade in Figures

Since joining the European Union, Bulgaria has experienced considerable growth in trade, despite a large trade imbalance and recurring deficits. The country is very open to foreign trade, which represents 120% of its GDP (World Bank, latest data available). Bulgaria mainly exports petroleum oils and oils obtained from bituminous (5.6%), wheat and meslin (3.5%), copper, refined, and copper alloys, unwrought (3.4%), medicaments consisting of mixed or unmixed (2.6%), and copper, unrefined; copper anodes for electrolytic (2%); while imports are led by petroleum oils (5.9%), copper ores and concentrates (3.6%), motor cars and other motor vehicles principally (3.3%), medicaments consisting of mixed or unmixed (3.1%), and petroleum gas and other gaseous hydrocarbons (1.9% - data Comtrade for 2023).

Bulgaria’s main export destinations in 2023 were Germany (13.6%), Romania (9.2%), Italy (7.2%), Turkey (5.8%), and Greece (5.5%); whereas imports came chiefly from Germany (12.4%), Turkey (8.2%), Romania (6.9%), the Russian Federation (6.7%), Italy (6.7%), and China (5.4%). Overall, the EU accounted for 63.5% and 59.9% of total exports and imports, respectively (data INS).

According to the latest figures from WTO, in 2023 exports of goods decreased by 4.1%, at USD 47.8 billion, with imports contracting at a faster pace (-7.1%), totalling USD 53.5 billion. The country is a net service exporter: it exported USD 15 billion worth of services, importing only USD 7.8 billion in 2023. The World Bank estimated the country’s trade balance to be positive by 4.1% of GDP in the same year. Preliminary data by the National Statistical Institute show that Bulgaria's balance on goods in 2024 was in negative territory, at EUR -5,470.5 million (5.3% of GDP), compared with a deficit of EUR -3,927.1 million (4.1% of GDP) in 2023, according to the Bulgarian National Bank. Exports of goods in 2024 totalled EUR 42,434.4 million (41.5% of GDP), dropping by 2.5% year-on-year. Imports of goods in 2024 totalled EUR 47,904.9 million (46.8% of GDP), growing by 0.9%.

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 37,66335,05646,21057,95953,551
Exports of Goods (million USD) 33,34031,95441,15749,92547,854
Imports of Services (million USD) 5,9814,7765,9517,3177,871
Exports of Services (million USD) 11,4608,37610,89912,77815,043

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20192020202120222023
Foreign Trade (in % of GDP) 125.0110.3121.2138.8119.7
Trade Balance (million USD) -3,256-2,256-3,379-5,308-4,243
Trade Balance (Including Service) (million USD) 2,2811,7482,1269854,220
Imports of Goods and Services (Annual % Change) 5.4-4.210.715.3-5.5
Exports of Goods and Services (Annual % Change) 4.0-9.611.612.10.0
Imports of Goods and Services (in % of GDP) 60.853.959.368.957.8
Exports of Goods and Services (in % of GDP) 64.256.461.870.061.9

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20242025 (e)2026 (e)2027 (e)2028 (e)
Volume of exports of goods and services (Annual % change) 3.05.43.53.03.0
Volume of imports of goods and services (Annual % change) 3.58.22.34.61.2

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Bulgaria is member of : the International Monetary Fund, the World Trade Organization, the World Bank, etc.

For further information, please consult the website of the Ministry of Economy of Bulgaria.

 

Main Partner Countries

Main Customers
(% of Exports)
2023
Germany 13.7%
Romania 9.2%
Italy 7.2%
Türkiye 5.8%
Greece 5.5%
See More Countries 58.7%
Main Suppliers
(% of Imports)
2023
Germany 12.4%
Türkiye 8.2%
Romania 6.8%
Italy 6.7%
China 5.4%
See More Countries 60.5%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

47.9 bn USD of products exported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 5.6%
Wheat and meslinWheat and meslin 3.5%
Copper, refined, and copper alloys, unwrought ...Copper, refined, and copper alloys, unwrought (excl. copper alloys of heading 7405) 3.4%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 2.6%
Copper, unrefined; copper anodes for electrolytic...Copper, unrefined; copper anodes for electrolytic refining 2.0%
See More Products 83.0%
53.5 bn USD of products imported in 2023
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 5.9%
Copper ores and concentratesCopper ores and concentrates 3.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 3.3%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.1%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 1.9%
See More Products 82.2%

Source: Comtrade, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

15.3 bn USD of services exported in 2023
26.43%
24.42%
17.60%
17.56%
5.09%
2.20%
2.15%
1.80%
1.15%
0.84%
0.50%
0.26%
8.0 bn USD of services imported in 2023
30.41%
23.12%
18.97%
10.81%
6.93%
3.97%
3.26%
1.25%
0.60%
0.51%
0.11%
0.06%

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Latest Update: May 2025