That dollar amount results from a 46.2% upturn compared to $31.9 billion five years prior in 2020.
Since 2023, the overall value of Bulgarian exports fell -2.6% from $47.9 billion.
Based on the average exchange rate for 2024, the Bulgarian lev depreciated by -4.9% against the US dollar since 2020 but appreciated by 0.02% from 2023 to 2024. Bulgaria’s weaker local currency compared to 2020 makes its exports paid for in stronger US dollars relatively less expensive for international buyers starting from American currency.
Largest International Customers for Bulgaria’s Exports
The latest available country-specific data shows that 64.8% of products exported from Bulgaria was bought by importers in: Germany (15.2% of the Bulgarian total), Romania (9.9%), Italy (6.9%), Türkiye (6.8%), Poland (5.4%), Greece (5.2%), France (3.4%), Czech Republic (2.9%), Serbia (2.5%), United States of America (2.4%), Belgium (2.2%) and Spain (1.9%).
From a continental perspective, 76.6% of Bulgaria’s exports by value was delivered to fellow European countries while 15.5% was sold to importers in Asia. Bulgaria shipped another 4.2% worth of goods to Africa.
Smaller percentages went to North America (3%), Latin America (0.4%) excluding Mexico but including the Caribbean, then Oceania (0.2%) led by Australia and New Zealand.
Bulgaria joined the European Union on January 1, 2007. Fellow EU member states bought 64.7% of Bulgarian export sales in 2024.
Given Bulgaria’s population of 6.38 million people, its total $46.6 billion in 2024 exports translates to roughly $7,300 for every resident in the Southeast European nation. That dollar metric lags the average $7,500 per person one year earlier during 2023.
Bulgaria’s Top 10 Exports
The following export product groups represent the highest dollar value in Bulgarian global shipments during 2024. Also shown is the percentage share each export category represents in terms of overall exports from Bulgaria.
- Electrical machinery, equipment: US$5.2 billion (11.1% of total exports)
- Copper: $4.7 billion (10.1%)
- Mineral fuels including oil: $3.6 billion (7.8%)
- Machinery including computers: $3.6 billion (7.7%)
- Cereals: $1.61 billion (3.4%)
- Vehicles: $1.6 billion (3.4%)
- Plastics, plastic articles: $1.5 billion (3.2%)
- Ores, slag, ash: $1.4 billion (2.9%)
- Pharmaceuticals: $1.3 billion (2.8%)
- Optical, technical, medical apparatus: $1.2 billion (2.6%)
Bulgaria’s top 10 exports accounted for 55% of the overall value of Bulgarian shipments.
Copper was the fastest grower among the top 10 export categories, up by 27.2% from 2023 to 2024.
In second place for improving export sales was the ores, slag and ash product category via a 11.4% advance.
Bulgaria’s shipments of optical, technical and medical apparatus posted the third-fastest gain in value, up by 5.7%.
The leading decliner among Bulgaria’s top 10 export categories was cereals thanks to a -30.1% year-over-year slowdown weighed down by lower sales of exported wheat.
At the more granular four-digit Harmonized Tariff System (HTS) code, Bulgaria’s most valuable export products are processed petroleum oils (5.9% of the Bulgarian total). Following that are Bulgarian exports of refined copper plus unwrought alloys (4%), unrefined copper (3.5%), medication mixes in dosage (2.5%), wheat (also 2.5%), precious metals ores and concentrates (1.7%), insulated wire or cable (1.4%), electrical or optical circuit boards and panels (1.3%), copper plates, sheets and strips (1.3%) then sunflower, safflower or cotton-seed oil (also 1.3%).
Products Generating Bulgaria’s Largest Trade Surpluses
The following types of Bulgarian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Copper: US$3.3 billion (Up by 36% since 2023)
- Cereals: $1.5 billion (Down by -31.5%)
- Glass: $469.5 million (Down by -18.6%)
- Food industry waste, animal fodder: $262.5 million (Down by -22.3%)
- Optical, technical, medical apparatus: $243.2 million (Up by 39.2%)
- Inorganic chemicals: $241.8 million (Up by 61.4%)
- Clothing, accessories (not knit or crochet): $231.8 million (Down by -28%)
- Lead: $202.6 million (Up by 109.2%)
- Live animals: $194.3 million (Up by 7.1%)
- Zinc: $184.4 million (Down by -5.6%)
Bulgaria has positive net exports in the international trade of copper. In turn, these cashflows indicate Bulgaria’s strong competitive advantages under the copper product category.
Products Causing Bulgaria’s Worst Trade Deficits
Bulgaria incurred an overall trade deficit of -US$7.2 billion during 2024, expanding by 27.2% from -$5.6 billion in red ink one year earlier in 2023.
Below are exports from Bulgaria that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Bulgaria’s goods trail Bulgarian importer spending on foreign products.
- Mineral fuels including oil: -US$3 billion (Up by 36.5% since 2023)
- Vehicles: -$2 billion (Down by -17.9%)
- Ores, slag, ash: -$1.6 billion (Up by 57.8%)
- Machinery including computers: -$1.6 billion (Up by 9.2%)
- Pharmaceuticals: -$939.8 million (Up by 6.8%)
- Iron, steel: -$839.7 million (Up by 0.4%)
- Electrical machinery, equipment: -$769.6 million (Down by -29.4%)
- Plastics, plastic articles: -$758.4 million (Down by -8%)
- Meat: -$423.7 million (Up by 9.9%)
- Paper, paper items: -$357.4 million (Down by -9.4%)
Bulgaria has highly negative net exports and therefore deep international trade deficits for mineral fuels-related goods as well as vehicles. Historically, deficit leaders include crude oil, petroleum gas and coal plus cars, tractors and trucks.
Bulgarian Export Companies
Not one Bulgarian corporation ranks among Forbes Global 2000.
Wikipedia lists companies from Bulgaria including international trade players. Selected examples are shown below.
- Armimex (weapons, ammunition)
- Astika Brewery (beer)
- Bulgartabac (cigarettes)
- Chimimport (chemicals)
- Kremikovtzi AD (cast iron, steel)
- LUKOIL Neftochim Burgas (petrochemical products)
- Maxeurope (bicycles, childcare products)
- Navibulgar (shipping company)
- Sofia Mel (bread)
- Vitta Foods (frozen pastry products)
In macroeconomic terms, Bulgaria’s total exported goods represent 18.5% of its overall Gross Domestic Product for 2024 ($251.7 billion valued in Purchasing Power Parity US dollars). That 18.5% for exports to overall GDP in PPP for 2024 compares to 22.1% for 2023. Those percentages suggest a relatively decreasing reliance on products sold on international markets for Bulgaria’s total economic performance, albeit based on a short timeframe.
Another key indicator of a country’s economic performance is its unemployment rate. Bulgaria’s unemployment rate averaged 4.234% for 2024, down from an average 4.395% one year earlier in 2023 according to the International Monetary Fund statistics.
Bulgaria’s capital city is Sofia.
See also Bulgaria’s Top Trading Partners, Germany’s Top Trading Partners, Romania’s Top Trading Partners and Italy’s Top Trading Partners
Research Sources:
Central Intelligence Agency, The World Factbook Europe: Bulgaria. Accessed on August 23, 2025
EXCHANGE-RATES.org, Bulgarian Lev (BGN) To US Dollar (USD) Exchange Rate History. Accessed on August 23, 2025
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 23, 2025
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 23, 2025
International Trade Centre, Trade Map. Accessed on August 23, 2025
Investopedia, Net Exports Definition. Accessed on August 23, 2025
Wikipedia, Gross domestic product. Accessed on August 23, 2025
Wikipedia, Bulgaria. Accessed on August 23, 2025
Wikipedia, List of Companies of Bulgaria. Accessed on August 23, 2025
Wikipedia, Purchasing power parity. Accessed on August 23, 2025