Bulgaria's Tourism Struggles to Diversify Beyond Traditional Offerings
Bulgaria continues to lag behind neighboring countries in achieving significant growth in its tourism sector
In 2020, Bulgaria exported EUR 3.6 billion worth of goods to Germany, according to data from the German statistical service. According to it, the export increased by 0.1% and scored a record for the period after 1989, calculations show.
Bulgaria's export to the largest economy in Europe for the fourth consecutive year (and for the fifth time since the beginning of the transition) outstrips import. The trade deficit for the Federal Republic in 2020 is in the amount of EUR 991.75 m. The import from Germany is worth of EUR 3.6 billion. This is a decline of 8.1% compared to 2019. The total trade exchange with Germany in 2020 reached EUR 8.2 billion, which means that the Federal Republic keeps its place as the leading trade partner for Bulgaria.
Traditionally, Germany exports to Bulgaria machines, equipment, cars, spare parts for them, chemical products, while at the beginning of the transition period textiles, clothes and prefabricated good prevailed in the Bulgarian export to Germany.
From 2009 Bulgaria started to export goods of higher value which led to the increase in exported goods and exports even began to exceed imports, told Money.bg Mitko Vasilev, CEO of German-Bulgarian Chamber of Industry and Commerce.
In the first quarter of 2025, the 20-BGN banknote has overtaken the 100-BGN note as the most frequently counterfeited denomination in Bulgaria,
According to recent data from the Trend Research Center, shared during the "Personal Finance" event by Money.bg, 38% of Bulgarians are unable to set aside any savings
In the first three months of 2025, 16 companies filed 18 applications for mass layoff
Despite the global escalation of the trade war, there have been no significant negative trends in Bulgaria’s tourism sector so far
Intercompany debt is a common aspect of the business landscape, both in Bulgaria and Western Europe
Starting April 17, Bulgaria Air has launched a new seasonal direct route between Varna, Bulgaria, and Paris, France
Google Street View Cars Return to Bulgaria for Major Mapping Update
Housing Prices Soar in Bulgaria’s Major Cities as Demand and Supply Strain Increase