The 14th edition of the brochure “Bulgaria in figures®” 2023 is now available. The Bulgarian Chamber of Commerce and Industry (BCCI), a licensed WTC Sofia (AF), gathered and processed information that reflects the main macroeconomic indicators of the country for the period 2018-2022. The brochure pays special attention to Bulgaria's place in 27 international rankings - an important reference point for foreign investors.
As a business support organization, BCCI aims at presenting Bulgaria’s achievements in various sectors and international rankings, attracting more investments and creating new partnerships.
In 2022, the country's GDP reached 84.5 billion euros, which is the highest level so far, with GDP growth of 3.4%. Unemployment remains low at 4.3%, approaching pre-crisis levels (4.2% in 2019). Inflation rate in 2022 reached 15.3%. It is expected to decrease gradually in 2023 and in 2024 to return to healthier levels.
Bulgaria is a leader in terms of the tax system in the EU with 10% corporate tax and this is one of the main competitive advantages that the country offers. A substantial factor for every investor is the possibility of applying 0% corporate tax in municipalities with over 25% above the country average unemployment rate /165 municipalities out of 265 as of 2022/.
Despite the high inflation, the Bulgarian companies are increasingly involved in the rearrangement of the supply chains, evidenced by the record export flow for the last 15 years of Bulgaria in 2022. According to National Statistical Institute data, it is worth 48 billion euros /37% growth/. Expectations for 2023 are for even better results, but at a reduced profit margin for businesses. Bulgaria's leading trade partners in terms of exports are again Germany, Romania and Italy, which form about 50% of Bulgaria's exports to the EU.
Imports of goods and raw materials registered record levels in 2022 with a growth of 41% compared to the previous year and a level that amounts to slightly more than 55 billion euros, with the trade balance again remaining negative for our country.
An electronic copy of the brochure in English could be found at the following link - https://www.bcci.bg/resources/files/BCCI-Bulgaria_in_figures-2023.pdf.