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BIA: Which are Bulgaria's leading foreign markets?

Photo: Pixabay

The most important market for the Bulgarian economy is Germany - with 14.8% of total exports. It is followed by Romania, Italy, Turkey, Greece, France, Belgium, China, Spain, the Netherlands. These 10 partners account for the markets for 59.6% of Bulgaria's exports. This is shown by data from an analysis of the Bulgarian Industrial Association (BIA).
We have the largest positive trade balance with Greece - USD 525 million, followed by Germany, Tunisia, Great Britain, USA. The biggest negative trade balance of Bulgaria is with Russia to the tune of USD 3,146 billion, with a total trade deficit of Bulgaria of USD 3,937 billion.
The main markets for more value-added goods are the large economies in the EU, but often from there Bulgarian products are sold all over the world.
The increased competitiveness of Bulgaria's production is mainly due to international companies in Bulgaria and less to local companies. Successful Bulgarian companies are those that work mainly for foreign markets and are not subject to significant regulatory burden, the analysis shows.

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Radio Bulgaria News    BIA Bulgarian Industrial Association trade balance trading partner

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