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Economy - overview:
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Bulgaria, a former communist country striving to enter the European Union, 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. A $300 million stand-by agreement negotiated with the IMF at the end of 2001 has supported government efforts to overcome high rates of poverty and unemployment.
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GDP:
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purchasing power parity - $57.13 billion (2003 est.)
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GDP - real growth rate:
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4.3% (2003 est.)
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GDP - per capita:
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purchasing power parity - $7,600 (2003 est.)
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GDP - composition by sector:
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agriculture: 11.4%
industry: 30%
services: 58.6% (2003)
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Investment (gross fixed):
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19.6% of GDP (2003)
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Population below poverty line:
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13.4% (2002 est.)
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Household income or consumption by percentage share:
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lowest 10%: 4.5%
highest 10%: 22.8% (1997)
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Distribution of family income - Gini index:
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26.4 (2001)
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Inflation rate (consumer prices):
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2.3% (2003 est.)
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Labor force:
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3.333 million (2003 est.)
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Labor force - by occupation:
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agriculture 26%, industry 31%, services 43% (1998 est.)
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Unemployment rate:
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14.3% (2003)
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Budget:
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revenues: $8.121 billion
expenditures: $8.121 billion, including capital expenditures of NA (2003 est.)
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Public debt:
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48% of GDP (2003)
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Agriculture - products:
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vegetables, fruits, tobacco, livestock, wine, wheat, barley, sunflowers, sugar beets
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Industries:
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electricity, gas and water; food, beverages and tobacco; machinery and equipment, base metals, chemical products, coke, refined petroleum, nuclear fuel
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Industrial production growth rate:
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6.3% (2003 est.)
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Electricity - production:
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41.38 billion kWh (2001)
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Electricity - consumption:
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32.52 billion kWh (2001)
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Electricity - exports:
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6.79 billion kWh (2001)
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Electricity - imports:
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830 million kWh (2001)
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Oil - production:
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603 bbl/day (2001 est.)
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Oil - consumption:
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94,000 bbl/day (2001 est.)
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Oil - exports:
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NA (2001)
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Oil - imports:
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NA (2001)
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Oil - proved reserves:
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8.1 million bbl (1 January 2002)
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Natural gas - production:
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4 million cu m (2001 est.)
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Natural gas - consumption:
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5.804 billion cu m (2001 est.)
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Natural gas - exports:
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0 cu m (2001 est.)
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Natural gas - imports:
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5.8 billion cu m (2001 est.)
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Natural gas - proved reserves:
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3.724 billion cu m (1 January 2002)
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Current account balance:
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$-1.666 billion (2003)
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Exports:
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$7.337 billion f.o.b. (2003 est.)
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Exports - commodities:
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clothing, footwear, iron and steel, machinery and equipment, fuels
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Exports - partners:
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Italy 14.1%, Germany 10.9%, Greece 10.5%, Turkey 9.2%, France 5.1%, US 4.5% (2003)
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Imports:
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$9.723 billion f.o.b. (2003 est.)
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Imports - commodities:
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fuels, minerals, and raw materials; machinery and equipment; metals and ores; chemicals and plastics; food, textiles
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Imports - partners:
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Germany 14.4%, Russia 12.6%, Italy 10.3%, Greece 6.7%, Turkey 6.2%, France 5.7% (2003)
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Reserves of foreign exchange & gold:
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$6.705 billion (2003)
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Debt - external:
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$12.05 billion (2003)
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Economic aid - recipient:
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$300 million (2000 est.)
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Currency:
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lev (BGL)
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Currency code:
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BGN
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Exchange rates:
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leva per US dollar - 1.7327 (2003), 2.077 (2002), 2.1847 (2001), 2.1233 (2000), 1.8364 (1999)
note: on 5 July 1999, the lev was redenominated; the post-5 July 1999 lev is equal to 1,000 of the pre-5 July 1999 lev
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Fiscal year:
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calendar year
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