Press releases

In October 2023, the total business climate indicator decreases by 2.7 percentage points compared to the previous month. A reduction of the indicator is observed in the industry, construction and retail trade, while in the service sector, an increase is registered.

The uncertain economic environment, shortage of labour, competition in the branch and costs of materials remain the most serious difficulties for the business development in sectors.

The National Statistical Institute published revised quarterly and annual data on employment and unemployment from the Labour Force Survey in 2022. The revision of data stemmed from the availability of updated data on population of the country based on Population Census 2021, which were used in the estimation of results of the survey.

Detailed data can be found on the NSI website under the heading Labour Market, Labour Force Survey.

In September 2023, the number of trips of Bulgarian residents abroad was 816.5 thousand, or 26.8% above the registered in September 2022.

The trips with other purposes (as a guest, education and visiting cultural and sports events) composed the greatest share of the total number of trips of Bulgarian residents abroad - 42.5%, followed by those with holiday and recreation purposes - 41.7%, and with professional purpose - 15.8%.

The number of visits of non-residents to Bulgaria was 1 206.0 thousand, or 8.4% more in comparison with the same month of the previous year. Тhe predominant share of the visits was with other purposes - 45.7%, followed by trips with holiday and recreation purposes - 45.0%, and with professional purpose - 9.3%.

Transit passes through the country were 33.9% (408.5 thousand) of all visits of non-residents to Bulgaria.

In 2022, the government deficit and debt of the EU decreased in relative terms compared with 2021. In the EU, the government deficit to GDP ratio shrunk from -4.7% in 2021 to -3.3% in 2022. The government debt to GDP ratio in the EU decreased from 87.4% in 2021 to 83.5% at the end of 2022.

According to final data from the National Statistical Institute, the General Government Institutional Sector reported in 2022 a deficit of 4 859 million BGN, or 2.9% of GDP.

The Government Debt of Bulgaria for 2022 is 37 850 million BGN, or 22.6% of GDP.

According to the updated annual data, GDP per person employed increased in real terms by 4.3% in 2022 compared to 2021.

In 2022, GDP at current prices is 167 809 million BGN. Updated annual data show an increase of GDP for 2022 in real terms by 3.9% compared to 2021.

In the third quarter of 2023, the newly registered legal entities in the country are 9 829, and those declared bankrupt - 829. Compared to the same quarter of 2022, the total number of newly registered decreased by 6.5%, and that of bankrupts - by 25.8%.

The distribution by economic sectors shows that the relative share of newly registered legal entities is the largest in sector G ‘Trade; car and motorcycle repair’ – 88.1% of all newly registered units in the second quarter of 2023. Among the companies declaring bankrupt, the largest share is in sector G ‘Trade; repair of cars and motorcycles’, which is 77.1% of the total number of bankrupted legal entities.

In September 2023, the monthly inflation rate, measured by the Consumer Price Index (CPI), was -0.1% compared to the previous month, and the annual inflation rate in September 2023 compared to September 2022 was 6.3%.

In September 2023, compared to the previous month, a decrease was registered for Recreation and culture (-10.1%) and Restaurants and hotels (-1.9%). The highest increase was recorded in the prices for Education (+4.0), Transport (+2.7%), Clothing and footwear (+0.6%), Health (+0.6%) and Food and non-alcoholic beverages (+0.5%).

In September 2023, the monthly inflation rate, measured by the Harmonised Index of Consumer Prices (HICP), was -0.3% compared to the previous month, and the annual inflation rate in September 2023 compared to September 2022 was 6.4%.

In the period January - July 2023, the exports of goods from Bulgaria to the EU decreased by 6.0% compared to the same period of 2022 and amounted to 33 154.1 million BGN, while the imports of goods from the EU remains unchanged and is worth to 34 008.6 million BGN.

In July 2023, the exports to the EU decreased by 9.1% compared to the corresponding month of the previous  year  and  amounted  to  4787.1  million  BGN,  while  the imports  fell  by 5.5% and added up to 4 727.4 million BGN.

The most notable growth in the exports of goods to the EU in the period January - July 2023 compared to the same period of 2022 was recorded in the section ‘Miscellaneous manufactured articles’ (17.1%). The most notable fall was reported in the section ‘Animal and vegetable oils, fats and waxes’ (71.6%). The largest growth in the imports of goods from the EU was recorded in the section ‘Machinery and transport equipment’ (18.1%), while the most notable fall was reported in the section ‘Mineral fuel, lubricants and related materials’ (67.1%). Data are by the Standard International Trade Classification.