Bulgaria Global Trading Profile: Oil, Copper, & Wheat

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Bulgaria Economy Overview

Bulgaria, officially the Republic of Bulgaria, was the 74th largest economy in the world based on GDP, based on the most recent data.

With $34 billion exported and $38.3 billion imported, Bulgaria posted a negative trade balance of -$4.31 billion. From a per-capita standpoint, Bulgaria's exports were $4.83k and its imports were $5.45k (about -$620 per capita).

Bulgaria's Top 5 Commodity Exports

Bulgaria's top commodity exports are:

  1. Refined Petroleum for $1.92 billion
  2. Refined Copper for $1.28 billion
  3. Raw Copper for $1.08 billion
  4. Wheat for $886 million
  5. Sunflower Seeds for $458 million

The top destinations for Bulgaria's exports are to EU partners Germany ($5.32 billion), Italy ($2.95 billion), and to its neighbors Romania ($2.77 billion), Turkey ($2.7 billion), and Greece ($2.11 billion).

Bulgaria's Other Notable Exports

Other top Bulgarian exports include:

  1. Packaged Medicaments ($989 million)
  2. Insulated Wire ($647 million)
  3. Electrical Power Accessories ($451 million)
  4. Non-Knit Men's Suits ($354 million)
  5. Low-voltage Protection Equipment ($351 million)

GDP of Bulgaria

Bulgaria's GDP was $65.1 billion in today's US dollars, ranking it #74 in the world, roughly in the top 20% of all countries. It ranks #63 in total exports and #60 for imports. Bulgaria is the 47th most complex economy in the world, according to the Economic Complexity Index (ECI).

Bulgaria's Top 5 Commodity Imports

The top commodity imports of Bulgaria are:

  1. Copper Ore for $2.82 billion
  2. Crude Petroleum for $2.65 billion
  3. Petroleum Gas for $820 million
  4. Refined Petroleum for $711 million
  5. Industrial Fatty Acids, Oils and Alcohols for $455 million

Bulgaria's imports come primarily from the EU and its former Soviet Union partners: Germany ($4.47 billion), Russia ($3.21 billion), Italy ($2.77 billion), Romania ($2.54 billion), and Turkey ($2.48 billion).

Bulgaria's Other Notable Imports

The rest of Bulgaria's top 10 imports are:

  1. Cars ($1.36 billion)
  2. Packaged Medicaments ($1.21 billion)
  3. Broadcasting Equipment ($601 million)
  4. Tractors ($495 million)
  5. Insulated Wire ($366 million)

Details on Bulgaria’s Imports/Exports

Petroleum

Bulgaria imported $2.65 billion in Crude Petroleum, making it the 43rd largest importer of this valuable commodity while turning around exporting Crude Petroleum back out to the tune of $425k.

Exports went to Serbia, Moldova, North Macedonia, and the Netherlands while imports came from Russia, Egypt, Kazakhstan, Malta, and Cyprus.

Packaged Medicaments

Bulgaria imported $1.21 billion in Packaged Medicaments, becoming the world's 46th largest importer of these medicinal items. They came largely from Hungary and Germany, with Switzerland, Austria, and France also contributing.

Bulgaria exported $989 million Packaged Medicaments, ranking it as the 29th largest exporter in the world and making these medical products the country's 4th most-exported product.

Bulgaria sent exports of Packaged Medicaments to Russia, Germany, Romania, United Kingdom, and the Netherlands.

A Few Interesting Facts About Bulgaria

  • Bulgaria exports attar of roses, essential oil distilled from fresh rose petals during a yearly summer celebration.
  • Bulgaria is one of the oldest countries on the European continent, first founded in the year 681. Bulgaria is a member of the European Union (EU) and the North Atlantic Treaty Organization (NATO).
  • The Bulgarian language is Slavic in origin and written in the Cyrillic alphabet.
  • In international sports competitions, Bulgarians are renowned for their weight-lifting prowess.

Sources & Further Reading

All currency is reported in US dollars.

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