In 2020 Bulgaria exported commodities worth USD 31.8 billion, a drop of 4.4% compared to the pre-pandemic 2019 when exports amounted to USD 33.4 billion.
Bulgaria climbs to 58th from 60th position in 2019 among all exporters globally. Within the EU, Bulgaria is in 21st position, in 2019 the country occupied 20th position, the Bulgarian Industrial Association has announced. Electronics accounted for the biggest share of exports in 2020 at USD 3.5 billion.
Over the past five years Bulgarian exports have increased by 20%. By way of comparison, exports in the world have marked a 3% increase over the same period, and a 7% drop in 2020. The increased competitiveness is due most of all to the international companies in Bulgaria, and to a lesser degree to local companies, the Association notes.
The Organisation for Economic Co-operation and Development (OECD) forecasts an acceleration in Bulgaria's economic growth from 1.8% in 2023 to 2.5% in 2024 and to 2.9% in 2025 as public investment increases along with EU funds. OECD expects inflation..
MPs have agreed to extend the 0% VAT on bread and flour, which was due to expire on June 30, until the end of 2024. Under the GERB proposal, traders will be allowed to add a maximum of 15% profit margin on bread, but the proposal is limited to the most..
Bulgargaz expects the price of natural gas next month to be 5 to 6% lower as compared to April. During an open meeting at the Energy and Water Regulatory Commission, the initially proposed price of EUR29.12 per megawatt-hour was reduced to EUR28.36. The..
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