Economy - overview:
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 will support government efforts to overcome high rates of poverty, unemployment, and inflation.
GDP:
purchasing power parity - $50.6 billion (2002 est.)
GDP - real growth rate:
4.8% (2002 est.)
GDP - per capita:
purchasing power parity - $6,600 (2002 est.)
GDP - composition by sector:
agriculture: 13.7%
industry: 28.5%
services: 57.8% (2001)
Population below poverty line:
12.6% (2001 est.)
Household income or consumption by percentage share:
lowest 10%: 4.5%
highest 10%: 22.8% (1997)
Distribution of family income - Gini index:
26.4 (2001)
Inflation rate (consumer prices):
5.9% (2002 est.)
Labor force:
3.83 million (2000 est.)
Labor force - by occupation:
agriculture 26%, industry 31%, services 43% (1998 est.)
Unemployment rate:
18% (2002 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% (2002 est.)
Electricity - production:
41.38 billion kWh (2001)
Electricity - production by source:
fossil fuel: 47.8%
hydro: 8.1%
other: 0% (2001)
nuclear: 44.1%
Electricity - consumption:
32.52 billion kWh (2001)
Electricity - exports:
6.79 billion kWh (2001)
Electricity - imports:
830 million kWh (2001)
Oil - production:
603 bbl/day (2001 est.)
Oil - consumption:
94,000 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Oil - proved reserves:
8.1 million bbl (January 2002 est.)
Natural gas - proved reserves:
3.724 billion cu m (January 2002 est.)
Agriculture - products:
vegetables, fruits, tobacco, livestock, wine, wheat, barley, sunflowers, sugar beets
Exports:
$5.3 billion f.o.b. (2002 est.)
Exports - commodities:
clothing, footwear, iron and steel, machinery and equipment, fuels
Exports - partners:
Italy 14%, Turkey 10%, Germany 9%, Greece 8%, Serbia and Montenegro 8% (2000)
Imports:
$6.9 billion f.o.b. (2002 est.)
Imports - commodities:
fuels, minerals, and raw materials; machinery and equipment; metals and ores; chemicals and plastics; food, textiles
Imports - partners:
Russia 19.9%, Germany 15.3%, Italy 9.6%, France 6.0% (2000)
Debt - external:
$10.3 billion (yearend 2002)
Economic aid - recipient:
$300 million (2000 est.)
Currency:
lev (BGL)
Currency code:
BGN
Exchange rates:
leva per US dollar - 2.077 (2002), 2.1847 (2001), 2.1233 (2000), 1.8364 (1999), 1.7604 (1998)
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 2003 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Guinea Geography 2003 information contained here. All suggestions for corrections of any errors about Bulgaria Economy 2003 should be addressed to the CIA.
