Covid-19 hits growth but does not disrupt path to euro adoption

B2

MEDIUM RISK for entreprise

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

  • Economic risk

  • Business environment risk

  • Political risk

  • Commercial risk

  • Financing risk

The country risk assessments are your North Star metrics to make the right decision for your business and understand the risks in international trade. We have always the best solution for your needs

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GDP USD 68bn (World ranking 73, World Bank 2019)
Population 7mn (World ranking 105, World Bank 2019)
Form of state Parliamentory republic
Head of government Boyko Borisov (PM)
Next elections 2021, presidential and legislative
  • EU membership and good international relations
  • Relatively low systemic political risk
  • Currency board has withstood global turbulences since 2008 and BGN is currently not overvalued
  • History of prudent fiscal policies
  • Current account surpluses since 2013
  • Generally adequate business environment
  • Slow progress on EU-required judicial reform and anti-corruption measures
  • Public discontent about living standards
  • High external debt burden
  • Markedly rising corporate insolvencies since 2018 (+9% in 2018, +6% in 2019, cumulative +20% forecast in 2020-2021)

Trade structure by destination/origin

(% of total)

Exports Rank Imports
Germany 12%
1
12% Germany
Romania 9%
2
9% Russia
Italy 9%
3
9% Turkey
Turkey 7%
4
7% Italy
Greece 6%
5
7% Romania

Trade structure by product

(% of total)

Exports Rank Imports
Electrical machinery, apparatus and appliances, n.e.s. 9%
1
9% Petroleum, petroleum products and related materials
Non-ferrous metals 9%
2
6% Electrical machinery, apparatus and appliances, n.e.s.
Petroleum, petroleum products and related materials 7%
3
6% Road vehicles
Articles of apparel & clothing accessories 6%
4
5% Metalliferous ores and metal scrap
Cereals and cereal preparations 5%
5
4% Medicinal and pharmaceutical products
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