The Bulgarian GDP amounted around 6.1% in 2006. The total value of GDP exceeded € 25,100 million which gives a GDP per capita of around € 3,346.7 in 2004. The biggest influences on the fast growing Bulgarian economy are services, agriculture and industry.
Bulgarian unemployment
In 2006 the unemployment rate has reached the lowest level for the last six years - 9%. In August 2007 there were 225,000 unemployed, which was 57,400 less than in December 2006.
Export and import in Bulgaria
Major export commodities are clothing, footwear, iron and steel, machinery and equipment and fuels. Main import commodities are fuels, minerals, raw materials, machinery, equipment, metals, ores, chemicals, plastics, food and textiles. The main destinations of Bulgarian exports for last few years have consistently been European Union countries (60%), Balkan countries (20%), the USA and Asia (6% each). Also, Bulgaria imported around 60% of its imported goods from the European Union, 20% from other European countries and around 9% from the USA and 9% from Asia.
Industry and natural resources
Industry plays a key role in the Bulgarian economy. Although Bulgaria is not very rich in reserves of oil, and gas, it is a major producer of electricity and the most important exporter in the region due to the Kozloduy Nuclear Power Plant, which has a total capacity of 2000 MW. Ferrous metallurgy also has a major importance. In production of steel and steel products per capita, the country is ranked first in the Balkans. About 14% of total industrial production relates to machine-building and 24% of the workforce are employed in this field.
The most important Bulgarian natural resources are bauxite, copper, lead, zinc, coal, and timber.
Infrastructure
Bulgaria occupies a unique and strategically important geographic location. Since ancient times, the country has served as a major crossroad between Europe, Asia and Africa. The communication system in Bulgaria is well developed and the total length of the roads is 102,016 km of which 93,855 km are paved and 416 km are motorways. The length of railways is 6,500 km of which more than 60% are electrified. Sea transport also plays a significant role. The main ports and harbours are: Burgas, Lom, Nesebur, Ruse, Varna and Vidin.
Telecommunications has arguably grown faster than any other industry in the country. Three GSM mobile operators provide almost 100% coverage and more than 6,245,000 Bulgarians own mobile phones. Internet is available in each town and more recently in most villages. There are around 185,000Internet hosts.
Tourism in Bulgaria
Bulgaria has enjoyed substantial growth in income from international tourism over the past decade. Beach resorts on the Black Sea at Sozopol, Nessebur, Golden Sands, Sunny Beach, Sveti Vlas, Albena, Saints Constantine and Helena, among many others, are popular with tourists from Germany, Russia, Scandinavia, the Netherlands and the United Kingdom. Ski resorts such as Samokov, Borovets, Bansko and Pamporovo are also a favourite destination for British and Irish tourists. Bulgaria now attracts close to 5 million visitors yearly. Tourism in Bulgaria makes a major contribution towards Bulgaria's annual economic growth of 6%-6.5%.
GENERAL DATA
Area: 110,910 sq km
Population: 7.5 million
Capital city: Sofia
Language: Bulgarian
Ethnic groups: Bulgarian 83.9%, Turk 9.4%, Roma 4.7%, other 2% (including Macedonian, Armenian, Tatar, Circassian)
Land boundaries: Greece, Macedonia, Romania, Serbia, Turkey
MACRO DATA
GDP (real growth): 6.1%
GDP (PPP): € 25,100 million
GDP per capita: € 3,346.7
Inflation: 7.4%
Unemployment: 9%
Exports: € 11.71 billion f.o.b.
Imports: € 15.32 billion f.o.b.
* 2006 est. source: Eurostat
USEFUL DATA
Currency: Lev (BGL)
Exchange rate
(2006 avg.): €/BGL 1.9558
Time zone: GMT +2
Area code: +359
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