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29-11-2023
Bulgaria exported $50.3 billion worth of products to the world in 2022. This figure represents an increase of 21.5% compared to $41.4 billion in 2021.
Top International Customers For Bulgarian Exports
The latest country-specific data show that Bulgaria's exports are mainly purchased by importers in Germany (14.0% of Bulgaria's total), Romania (10.1%), Italy (7.5%), Greece (6.5%), Turkey (5.9%), France (3.3%), Spain (2.6%), Serbia (2.6%), the Netherlands ( 2.57%), Belgium (2.54%), Ukraine (2.4%) and Poland (2.2%).
From a continental perspective, more than three quarters (78.2%) of Bulgaria's exports went to the rest of Europe, while 14% went to Asian importers.
Smaller shares went to Africa (4.6%), North America (2.6%), Latin America (0.4%) (excluding Mexico but including the Caribbean), and then Oceania (0.1%), with Australia and New Zealand leading the way.
Bulgaria's Top 10 Exports
1. Mineral fuels including oil: $6.1 billion (12.2% of total exports)
2. Electrical machinery and equipment: $4.6 billion (9.2%)
3. Copper: $4.2 billion (8.3%)
4. Machinery including computers: $3.7 billion (7.4%)
5. Cereals: $2 billion (3.9%)
6. Animal and vegetable fats, oils and waxes: $1.8 billion (3.7%)
7. Vehicles: $1.59 billion (3.2%)
8. Plastics, plastic products: $1.59 billion (3.2%)
9. Other chemicals: $1.46 billion (2.9%)
10. Pharmaceuticals: $1.2 billion (2.4%)
Bulgaria's top 10 exports accounted for 56.4% of its total global exports.
Mineral fuels, including oil, are the fastest growing of the top 10 export categories, growing by 146.7% from 2021 to 2022. Bulgaria's second fastest growing export sales are animal or vegetable fats, oils and waxes, up 118%. Bulgaria's exports of miscellaneous chemicals grew the third fastest, by 36.5%.
The only decline among Bulgaria's top 10 export categories was in grains, as international sales were down -0.03% year-on-year.
According to the more granular four-digit HS code, Bulgaria's most valuable export product is processed oil (7.9% of Bulgaria's total). This was followed by sunflower, safflower or cottonseed oil (3.3%), refined copper plus unwrought alloys (3.2%), wheat (2.9%), unrefined copper (2.8%), biodiesel (2.6%), mixed doses of medicines (2.1%), electricity (2%), LPG (1.7%) and then sunflower seeds (1.4%).
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