The following export product groups represent the highest dollar value in Bulgarian global shipments during 2020. Also shown is the percentage share each export category represents in terms of overall exports from Bulgaria.

1. Electrical machinery, equipment: US$3.5 billion (11% of total exports)
2. Copper: $2.7 billion (8.7%)
3. Machinery including computers: $2.7 billion (8.4%)
4. Mineral fuels including oil: $1.4 billion (4.5%)
5. Cereals: $1.3 billion (4.2%)
6. Vehicles: $1.2 billion (3.8%)
7. Pharmaceuticals: $1.1 billion (3.6%)
8. Plastics, plastic articles: $1.1 billion (3.4%)
9. Ores, slag, ash: $1 billion (3.2%)
10. Furniture, bedding, lighting, signs, prefabricated buildings: $780 million (2.5%)

Bulgaria’s top 10 exports accounted for 53.2% of the overall value of its global shipments.

Copper was the fastest grower among the top 10 export categories, up by 15.9% from 2019 to 2020. In second place for improving export sales was ores, slag and ash via a 11.8% gain. Bulgaria’s shipments of furniture, bedding, lighting, signs and prefabricated buildings posted the third-fastest gain in value up by 5.8%.

The leading decliner among Bulgaria’s top 10 export categories was mineral fuels including oil thanks to a -55% drop year over year.

At the more granular four-digit Harmonized Tariff System (HTS) code, Bulgaria’s most valuable export products are refined copper (3.7% of total). Following that is processed petroleum oils (3.5%), medication mixes in dosage (3.3%), unrefined copper (3%), wheat (2.2%), precious metal ores and concentrates (2.1%), insulated wire or cable (1.7%), sunflower seeds (also 1.7%), corn (1.6%) then electric circuit parts, fuses or switches (1.5%).

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.

1. Copper: US$2 billion (Up by 16.9% since 2019)
2. Cereals: $1.2 billion (Down by -14.4%)
3. Arms, ammunition: $560.4 million (Reversing a -$30,000 deficit)
4. Clothing, accessories (not knit or crochet): $414.1 million (Down by -21.5%)
5. Glass: $402.6 million (Up by 40.3%)
6. Knit or crochet clothing, accessories: $339.3 million (Down by -8.5%)
7. Furniture, bedding, lighting, signs, prefabricated buildings: $305 million (Up by 13.8%)
8. Animal/vegetable fats, oils, waxes: $294.8 million (Up by 32%)
9. Food industry waste, animal fodder: $187.7 million (Up by 16.5%)
10. Zinc: $150.3 million (Down by -9.3%)

Bulgaria has highly positive net exports in the international trade of copper. In turn, these cashflows indicate Bulgaria’s strong competitive advantages under the copper product category.

Bulgaria incurred an overall trade deficit of -$3 billion during 2020, down -21.6% from -$3.9 billion in red ink one year earlier.

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.

1. Mineral fuels including oil: -US$2 billion (Down by -7% since 2019)
2. Vehicles: -$1.5 billion (Down by -13.2%)
3. Machinery including computers: -$948.7 million (Down by -19.1%)
4. Iron, steel: -$670.7 million (Up by 4.3%)
5. Plastics, plastic articles: -$624.3 million (Down by -13.6%)
6. Ores, slag, ash: -$606.1 million (Down by -59.7%)
7. Pharmaceuticals: -$476.6 million (Down by -14%)
8. Meat: -$301.7 million (Up by 42.1%)
9. Paper, paper items: -$236.4 million (Down by -17.3%)
10. Articles of iron or steel: -$232.2 million (Reversing a $299.3 million surplus)

Bulgaria has highly negative net exports and therefore deep international trade deficits for mineral fuels-related goods, notably crude oil, petroleum gas and coal.

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)