Investor Presentaiton
Export and import dynamics
Bulgaria's export performance has remained robust in the face of multiple global shocks
Despite worsening economic conditions globally in 2022 in the face
of the war in Ukraine, inflationary pressures and monetary
tightening, Bulgaria has maintained strong export performance.
Bulgaria's export of goods market share in global trade has been
continuously increasing since the early 2000s.
Real exports and imports of goods and services (annual change, %)
15.0
11.2
7.4
5.8
5.2
5.7
4.0
-4.3
1.7
10.7
11.6
-1.3
-7.0
-10.4
2017
2018
Real export growth
2019
2020
2021
2022
H1 2023
Real import growth
Germany is Bulgaria's major export market (main exports include
machinery and base metals products), followed by Romania and
Italy.
Source Eurostat, NSI, BNB
Bulgaria's real exports of goods and services declined in the
first half of 2023 largely specific events- namely, the prohibition
on exports of oil and petroleum products produced from Russian
crude oil to countries other than Ukraine (entering into effect from 5
February 2023), as well as to planned construction works in some of
the largest enterprises in manufacturing and electricity generation
sectors in Q2 2023.
Export of goods global market share of Bulgaria (%)
0.20
0.18
0.15
0.14
0.11
0.07
Imports in H1 2023 have also weakened significantly due to
lower import needs given the strong decline in H1 2023 of the
accumulated over the past two years inventories, the high levels of
natural gas in the country's storage facility and the one-off factors
limiting exports of goods.
2000
Source AMECO
2005
2015
2010
Export of goods global market share
2020
15View entire presentation