Year over year, the overall value of Bulgarian exports dropped by -2.6% from $47.9 billion.
The top 5 Bulgarian trading partners for buying Bulgaria’s exported products are Germany, Romania, Italy, Türkiye and Poland. Added together, that cohort of 5 major buyers accounted for 44.3% of overall Bulgarian exports by dollar value.
Applying a continental lens, over than three-quarters (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.
On January 1, 2007 Bulgaria joined the European Union. Fellow EU member states generated 64.7% of Bulgarian export revenues in 2024.
Bulgaria’s Top Trading Partners
Below is a list showcasing 25 of Bulgaria’s top trading partners, countries that imported the most Bulgarian shipments by dollar value during 2024. Also shown is each import country’s percentage of total Bulgarian exports.
- Germany: US$7.1 billion (15.2% of Bulgaria’s total exports)
- Romania: $4.6 billion (9.9%)
- Italy: $3.24 billion (6.9%)
- Türkiye: $3.19 billion (6.8%)
- Poland: $2.5 billion (5.4%)
- Greece: $2.4 billion (5.2%)
- France: $1.6 billion (3.4%)
- Czech Republic: $1.3 billion (2.9%)
- Serbia: $1.2 billion (2.5%)
- United States: $1.1 billion (2.4%)
- Belgium: $1 billion (2.2%)
- Spain: $906.4 million (1.9%)
- North Macedonia: $860.6 million (1.8%)
- Netherlands: $829.6 million (1.8%)
- mainland China: $816.7 million (1.8%)
- Austria: $734.4 million (1.6%)
- Egypt: $712.5 million (1.5%)
- United Kingdom: $698.2 million (1.5%)
- Hungary: $637.1 million (1.4%)
- Gibraltar: $591.7 million (1.3%)
- Ukraine: $567.4 million (1.2%)
- Algeria: $565.5 million (1.2%)
- Croatia: $552.6 million (1.2%)
- Slovakia: $548.7 million (1.2%)
- Georgia: $423.2 million (0.9%)
Over four-fifths (83.1%) of Bulgarian exports in 2024 was delivered to the above 25 trade partners.
Increasing their demand of Bulgaria’s exported goods at the greatest pace from 2023 to 2024 were Gibraltar (up 218.3%), Poland (up 122.5%), Croatia (up 59.7%), Czech Republic (up 47.2%), Georgia (up 35.8%) and Türkiye (up 15.6%).
The severest decliners among the major Bulgarian customers were the Ukraine (down -37.6% from 2023), Belgium (down -32.6%), Spain (down -27.7%), mainland China (down -26%) and Austria (down -25.8%).
Countries Creating Bulgaria’s Largest 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.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
Bulgaria incurred the highest trade deficits with the following countries.
- mainland China: -US$4.8 billion (country-specific trade deficit in 2023)
- Türkiye: -$1.53 billion
- Kazakhstan: -$1.51 billion
- Ukraine: -$754.5 million
- Iraq: -$550.3 million
- Brazil: -$542 million
- Indonesia: -$518.8 million
- Netherlands: -$503.1 million
- Norway: -$497.7 million
- Vietnam: -$473.8 million
Among Bulgaria’s trading partners that cause the greatest negative trade balances, Bulgarian deficits with Ukraine (up 424.7%), Indonesia (up 380.4%) and Vietnam (up 368.8%) grew at the fastest pace from 2023 to 2024.
In addition, Bulgaria reversed surpluses trading with Kazakhstan and Iraq in 2023 to incurring the deficits listed above.
These cashflow deficiencies clearly indicate Bulgaria’s competitive disadvantages with the above countries, but also represent key opportunities for Bulgaria to develop country-specific strategies to strengthen its overall position in international trade.
Countries Generating Bulgaria’s Best Trade Surpluses
Based on Investopedia’s definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
Bulgaria incurred the highest trade surpluses with the following countries.
- Romania: US$2.1 billion (country-specific trade surplus in 2023.)
- Germany: $1.6 billion
- Poland: $791.5 million
- Greece: $717.5 million
- Gibraltar: $591.7 million
- Algeria: $483.8 million
- Croatia: $414.3 million
- Belgium: $359 million
- North Macedonia: $334.7 million
- Georgia: $304 million
Among Bulgaria’s trading partners that generate the greatest positive trade balances, Bulgarian surpluses with Gibraltar (up 218.4%), Romania (up 174.9%) and Greece (up 139.8%) grew at the fastest pace from 2023 to 2024.
In addition, Greece reversed trade deficits in 2023 with Poland and Germany to post trade surpluses listed above for 2024.
These positive cashflow streams clearly indicate Bulgaria’s competitive advantages with the above countries, but also represent key opportunities for Bulgaria to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Bulgarian Trading Partners
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)
See also Bulgaria’s Top 10 Exports, 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 February 4, 2026
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on February 4, 2026
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on February 4, 2026
International Trade Centre, Trade Map. Accessed on February 4, 2026
Investopedia, Net Exports Definition. Accessed on February 4, 2026
Wikipedia, Bulgaria. Accessed on February 4, 2026
Wikipedia, List of Companies of Bulgaria. Accessed on February 4, 2026