In 2023, the government deficit of the EU increased in relative terms compared with 2022, while the government debt decreased. In the EU, the government deficit to Gross domestic product (GDP) ratio grew from -3.2% in 2022 to -3.5% in 2023. The government debt to GDP ratio in the EU decreased from 82.5% in 2022 to 80.8% at the end of 2023.
In 2023, the General Government Institutional Sector reported a deficit of -3 709 million BGN, or -2.0% of Gross domestic product (GDP), according to final data from the National Statistical Institute.
The Government Debt of Bulgaria for 2023 is 42 389 million BGN, or 22.9% of GDP.
According to the updated data, GDP per person employed increased in real terms by 0.8% in 2023 compared to 2022.
In 2023, GDP at current prices is 185.233 billion BGN. Updated annual data show an increase of GDP for 2023 in real terms by 1.9% compared to 2022.
In 2023, the Gross national income (GNI) totaled 176.169 billion BGN.
The GNI is calculated at market prices in accordance with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.
The information is published on the basis of Regulation (EU) 2019/516 of the European Parliament and of the Council of 19 March 2019 on the harmonisation of gross national income at market prices.
In accordance with the revision policy and practice of the National Statistical Institute (NSI), the data for the period 2014 - 2022 was revised due to the benchmark revision, conducted in 2024.
Detailed data can be found on the NSI website under the heading 'Gross National Income (GNI)'.
In September 2024, the monthly inflation rate, measured by the Consumer Price Index (CPI), was -1.0% compared to the previous month, and the annual inflation rate in September 2024 compared to September 2023 was 1.2%.
In September 2024, compared to the previous month, the highest decrease was registered in the following groups: ‘Recreation and culture’ (-13.7%), ‘Restaurants and hotels’ (-2.5%), ‘Transport’ (-2.0%) and ‘Furnishings, household equipment and routine maintenance of the house’ (-0.7%). The highest increase in the prices was recorded in the groups: ‘Education’ (+3.3%), ‘Clothing and footwear’ (+0.8%), ‘Food and non-alcoholic beverages’ (+0.6%) and ‘Alcoholic beverages and tobacco’ (+0.3%).
The monthly inflation rate, measured by the Harmonised Index of Consumer Prices (HICP), was -1.1% and the annual inflation rate was 1.5%.
The exports of goods from Bulgaria to third countries decreased by 1.8% compared to the same period of 2023 and amounted to 20 233.1 million BGN, while the imports of goods from third countries increased by 8.1% and added up to 27 651.6 million BGN.
Тhe most notable growth in the exports was recorded in the section ‘Chemical and related products n.e.c.’ (10.3%). The most notable fall was reported in the section ‘Animal and vegetable oils, fats and waxes’ (33.7%). The largest growth in the imports of goods from third countries was recorded in the section ‘Crude materials, inedible (except fuel)’ (26.4%). The most notable fall was reported in the section ‘Machinery and transport equipment’ (10.2%). The data are according to the Standard International Trade Classification.
The total value of all exported goods to third countries and the EU amounted to 56 511.2 million BGN in the period January - August 2024, which is with 2.8% less than the same period of the previous year, while the total value of all imported goods from third countries and the EU added up to 64 027.7 million BGN and dropped by 0.1%.
In the period January - July 2024, the exports of goods from Bulgaria to the EU decreased by 3.5% compared to the same period of 2023 and amounted to 31 982.5 million BGN, while the imports of goods from the EU decreased by 5.0% and amounted to 32 363.7 million BGN.
In July 2024, the exports of goods from Bulgaria to the EU increased by 5.4% compared to the same month of 2023 and amounted to 5 053.0 million BGN, while the imports of goods from the EU decreased by 1.4% and amounted to 4 685.5 million BGN.
The most notable growth in the exports of goods to the EU compared to the same month of 2023 was recorded in the section ‘Mineral fuel, lubricants and related materials’ (44.5%). The most notable fall was reported in the section ‘Food and live animals’ (18.0%). The largest growth in the imports of goods from the EU was recorded in the section ‘Mineral fuel, lubricants and related materials’ (56.1%), while the most notable fall was reported in the section ‘Manufactured goods classified chiefly by material’ (12.6%). Data are by the Standard International Trade Classification.
The value of the final output produced in agriculture for 2023 amounted to 10 554.4 million BGN (at current prices), registering a decline of 18.2% compared to the previous year. The decrease was due to drop both in prices - by 15.3 and in volumes - by 3.5%, compared to 2022.
The value of the goods and services currently consumed in agriculture amounted to 6 337.4 million BGN, which was 9.3% lower than the previous year. The decrease was due to the drop both in prices - by 5.5% and in volumes - by 4.0%.
The gross value added produced in agriculture was equal to 4 217.0 million BGN (at basic prices). It was 28.7% less than the previous year. The decrease was due to the significant drop in prices - by 26.6%, as well as to the decrease in volumes - by 2.8% on an annual basis.
The net operating surplus/mixed income in agriculture amounted to 3 604.5 million BGN and was 37.8% lower compared to the previous year. The decrease was a result of the drop of gross value added produced in agriculture compared to the previous year.
The net entrepreneurial income in agriculture amounted to 969.4 million BGN and decreased by 70.1% compared to the previous year, as a result of the decline in net operating surplus/mixed income and the increase in rents.
The gross fixed capital formation in agriculture was equal to 1 354.2 million BGN and decreased by 0.3% compared to the previous year. The bigger part of it - 1 248.7 million BGN (92.2%), represented gross fixed capital formation in non-agricultural products (agricultural machinery, equipment and vehicles, and in buildings).
From July 2024, NSI started publishing Industrial Production Indices by base year 2021 = 100 in accordance with the requirements of Regulation (EU) 2019/2152 of the European Parliament and of the Council for European Business Statistics and Commission Implementing Regulation (EU) 2020/1197.
The Industrial Production Index increased by 0.8% in August 2024 compared to the previous month. The data are preliminary and seasonally adjusted.
In August 2024, compared to the previous month, an increase was seen in the mining and quarrying industry - by 22.1%, and in the manufacturing - by 2.3%, while a decrease was registered in the electricity, gas, steam and air conditioning supply - by 11.8%.
In comparison with August 2023, a decrease of 2.6% was reported in the calendar-adjusted Industrial Production Index.
On an annual basis, a drop of the Industrial Production Index was observed in the electricity, gas, steam and air conditioning supply - by 10.0%, and in the manufacturing - by 1.7%, while an increase was registered in the mining and quarrying industry - by 15.3%.