Short facts about the economy in Bulgaria
| Economy -
overview: |
Bulgaria, a former communist country
struggling to enter the European market economy, suffered a major economic
downturn in 1996 and 1997, with triple digit inflation and GDP contraction of
10.6% and 6.9%. The current government - which took office in May 1997 after
pre-term parliamentary elections - stabilized the economy and promoted growth by
implementing a currency board, practicing sound financial policies, invigorating
privatization, and pursuing structural reforms. Additionally, strong assistance
from international financial institutions - most notably the IMF which approved
a three-year Extended Fund Facility worth approximately $900 million in
September 1998 - played a critical role in turning the economy around. After
several years of tumult, Bulgaria's economy has stabilized. Its
better-than-expected economic performance in 1999 - despite the impact of the
Kosovo conflict, the 1998 Russian financial crisis, and structural reforms - and
strong growth in 2000 portends solid growth over the next few years; this
assumes continued fiscal restraint, additional structural reforms, aid from
abroad, and prosperous times in the EU economy. |
| GDP: |
purchasing power parity - $48 billion
(2000 est.) |
| GDP - real
growth rate: |
5% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $6,200 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 15%
industry: 29%
services: 56% (2000
est.) |
| Population
below poverty line: |
35% (2000
est.) |
| Household
income or consumption by percentage share: |
lowest 10%: 3.4%
highest 10%: 22.5%
(1995) |
| Inflation
rate (consumer prices): |
10.4% (2000
est.) |
| Labor
force: |
3.83 million (2000
est.) |
| Labor force
- by occupation: |
agriculture 26%, industry 31%, services
43% (1998 est.) |
| Unemployment
rate: |
17.7% (2000
est.) |
| Budget: |
revenues: $4.85 billion
expenditures: $4.92 billion, including
capital expenditures of $NA (2000 est.) |
| Industries: |
electricity, gas and water; food,
beverages and tobacco; machinery and equipment, base metals, chemical products,
coke, refined petroleum, nuclear fuel |
| Industrial
production growth rate: |
10.8% (2000
est.) |
| Electricity
- production: |
36.217 billion kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 51.52%
hydro: 8.35%
nuclear:
40.12%
other: 0.01%
(1999) |
| Electricity
- consumption: |
33.182 billion kWh
(1999) |
| Electricity
- exports: |
2.2 billion kWh
(1999) |
| Electricity
- imports: |
1.7 billion kWh
(1999) |
| Agriculture
- products: |
vegetables, fruits, tobacco, livestock,
wine, wheat, barley, sunflowers, sugar beets |
| Exports: |
$4.8 billion (f.o.b., 2000
est.) |
| Exports -
commodities: |
clothing, footwear, iron and steel,
machinery and equipment, fuels |
| Exports -
partners: |
Italy 14%, Turkey 10%, Germany 9%,
Greece 8%, Yugoslavia 8%, Belgium 6%, France 5%, US 4%
(2000) |
| Imports: |
$5.9 billion (f.o.b., 2000
est.) |
| Imports -
commodities: |
fuels, minerals, and raw materials;
machinery and equipment; metals and ores; chemicals and plastics; food,
textiles |
| Imports -
partners: |
Russia 24%, Germany 14%, Italy 8%,
Greece 5%, France 5%, Romania 4%, Turkey 3%, US 3%
(2000) |
| Debt -
external: |
$10.4 billion (2000
est.) |
| Economic aid
- recipient: |
$1 billion (1999
est.) |
| Exchange
rates: |
leva per US dollar - 2.0848 (January
2001), 2.1233 (2000), 1.8364 (1999), 1,760.36 (1998), 1,681.88 (1997), 177.89
(1996)
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 |
| Fiscal
year: |
calendar year | Source: World Factbook |
