Economy - overview Bulgaria, a former communist country striving to enter the European Union, has experienced macroeconomic stability and positive growth rates since a major economic downturn in 1996 led to the fall of the then socialist government. The current government, elected in 2001, has pledged to maintain the fundamental economic policy objectives of its predecessor, i.e., retaining the Currency Board, practicing sound financial policies, accelerating privatization, and pursuing structural reforms. A $300 million stand-by agreement negotiated with the IMF at the end of 2001 will help the government maintain economic stability as it seeks to overcome high rates of poverty and unemployment.

GDP purchasing power parity - $48 billion (2001 est.)

GDP - real growth rate 4% (2001 est.)

GDP - per capita purchasing power parity - $6,200 (2001 est.)

GDP - composition by sector
agriculture: 14.5%
industry: 27.8%
services: 57.7% (2000)

Population below poverty line 35% (2000 est.)

Household income or consumption by percentage share
lowest 10%: 4.5%
highest 10%: 22.8% (1997)

Distribution of family income - Gini index 34.1 (1997)

Inflation rate (consumer prices) 7.5% (2001 est.)

Labor force 3.83 million (2000 est.)

Labor force - by occupation agriculture 26%, industry 31%, services 43% (1998 est.)

Unemployment rate 17.5% (2001 est.)

Budget
revenues: $5.57 billion
expenditures: $5.68 billion, including capital expenditures of $NA (2001 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 2% (2001 est.)

Electricity - production 38.84 billion kWh (2000)

Electricity - production by source
fossil fuel: 47.9%
hydro: 7.54%
other: 0.1% (2000)
nuclear: 44.46%

Electricity - consumption 34.42 billion kWh (2000)

Electricity - exports 3.2 billion kWh (2000)

Electricity - imports 1.5 billion kWh (2000)

Agriculture - products vegetables, fruits, tobacco, livestock, wine, wheat, barley, sunflowers, sugar beets

Exports $4.6 billion (f.o.b., 2001 est.)

Exports - commodities clothing, footwear, iron and steel, machinery and equipment, fuels

Exports - partners Italy 14%, Turkey 10%, Germany 9%, Greece 8%, Yugoslavia 8% (2000)

Imports $6.2 billion (f.o.b., 2001 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% (2000)

Debt - external $10.2 billion (2001 est.)

Economic aid - recipient $1 billion (1999 est.)

Currency lev (BGL)

Currency code BGL

Exchange rates leva per US dollar - 2.2147 (January 2002), 2.1847 (2001), 2.1233 (2000), 1.8364 (1999), 1,760.36 (1998), 1,681.88 (1997)
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

NOTE: The information regarding Bulgaria on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Bulgaria Economy 2002 information contained here. All suggestions for corrections of any errors about Bulgaria Economy 2002 should be addressed to the CIA.