Bulgarian Automotive Industry Contributes Over 10% to National GDP

Business » INDUSTRY | July 11, 2024, Thursday // 11:17
Bulgaria: Bulgarian Automotive Industry Contributes Over 10% to National GDP Claire Francis from Pixabay

There are currently 380 companies operating in the Bulgarian automotive industry, with the sector employing more than 80,000 people and accounting for over 10% of the country's gross domestic product, Automotive Cluster Bulgaria (ACB) said in a press release on Wednesday.

Parts and components made in Bulgaria have been used in between 80% and 90% of vehicles produced in Europe. "We are proud that the automotive sector has been one of the fastest-growing industries in the country over the last 12 years, building an excellent ecosystem of high-tech companies. We are happy that they are competitive on international markets and successfully integrate the trends of global revolutions in the automotive industry into their activities," the ACB Executive Director, Lyubomir Stanislavov, was quoted as saying in the press release.

Founded in 2012, Automotive Cluster Bulgaria is a non-profit organization which represents the interests of automotive manufacturers, suppliers and organizations providing services for the automotive industry./BTA

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Industry » Be a reporter: Write and send your article

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria