Bulgaria country facts

Bulgaria – short facts

  • Bulgaria officially the Republic of is located in south-eastern Europe, with borders to Romania, Macedonia and Serbia, Black Sea, Greece and Turkey. Bulgaria is Europe's 14th-largest country with a territory of 110,994 square kilometers.
  • total area: 110.994 km2
  • Population (2011): 7,364,570
  • Capital: Sofia
  • Monetary unit: LEV (BGN)
  • Languages: Bulgarian

Economic summary:

  • GDP/PPP (2014 est.): $103.816 billion; per capita $16.076.
  • Real growth rate: 5.5%
  • Inflation (est.2014): 2.9%
  • Unemployment: 12%
  • Labor force (2011): 2.45 million
  • Major trading partners: Germany, Italy, Turkey, Romania, Russia, Greece

Economic environment

Bulgaria has an emerging market economy with strong private sector which accounts more than 80 per cent of GDP. Between 1948 and 1980 country was transformed from agricultural to industrial economy with strong expenditures on technological research.

Bulgaria is well known as country with the lowest personal and corporate income tax rates in the EU and the second-lowest public debt of all member states.

The labour force is 2.45 million people, of it 7.1% in agriculture, 35.2% in industry and 57.7% in the services sector. Extraction of metals and minerals, production of chemicals, machinery and vehicle components, petroleum refining and steel are among the major industrial activities.

The average hourly labor costs of industrial workers as:

Average € 3.7 per hour
The national minimum wage is currently 173,84 EUR per month.

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