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Bulgaria Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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Population
7,057,504 (July 2018 est.)
GDP (PPP)
$153.5 billion (2017 est.)

Bulgaria is former communist country. The economy has grown so much over the last 20 years, and entered the European Union in 2007.

GDP growth rate
3.6% (2017 est.)

High and quite stable growth

GDP (PPP) per capita
$21,800 (2017 est.)

Medium in absolute terms, however it is the lowest among European Union members

Local currency
Leva (BGN)

Pegged to the EUR (1€ = 1,95583 lev)

Financial stability (Public debt)
23.9% (2017 est.)

Very low public debt and stable

Inflation
1.2% (2017 est.)

Still low but recovering from deflation

Language
Bulgarian (official)

English is spoken especially in urban and touristic areas. Turkish is also spoken by 8% of the population

Corruption perception index (Source: Transparency International)
Rank 77/180

Very high level of corruption. The most corrupted country in the European Union

Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
20% standard VAT rate
Reduced rates apply: 9% (certain tourist services), 0% (including certain land transactions; leasing of residential property to individuals; financial, insurance, gambling, educational, listed food, and health services)
Corporate Tax
10% standard tax rate
Different rates are applicable in some cases (including gambling, maritime shipping, and telecommunication service)
Duties

EU custums duties apply to the import of goods from outside the EU

Whether you are looking for a European importer or you are just interested in Europe business, Globartis is the right platform for you!

We have a strong position in Europe B2B and Europe trade, especially European Union trade.

If you are interested in doing business in Bulgaria, or in finding Bulgarian manufacturing companies, we can help you. Thousands of companies in Bulgaria and Bulgarian SMEs use Globartis for their operations. Join our network today and find the right partner for your Bulgaria business. Connect with a Bulgarian manufacturer or Bulgaria importer, or source among Bulgaria export to find the right product.

Join now and grow your business in Sofia, among the best cities for European business.

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