site.btaGermany Is Largest Exporter of Goods to Bulgaria

Germany is the largest exporter of goods to Bulgaria for a fifth year in a row, the German-Bulgarian Chamber of Industry and Commerce wrote in the latest issue of its newsletter Bulgarien Aktuell, a copy of which was received by BTA. It cites a new Germany Trade & Invest (GTAI) publication, titled “German companies are successful in Bulgaria” which provides information on the development of trade relations between Bulgaria and Germany.

The German suppliers profit from the increasing purchasing power of the Bulgarians. German companies see Bulgaria as a good sales market and investment location but also as a place to do research and development, the article says.

In 2020, German companies invested nearly 208 million euro in Bulgaria, Bulgarian National Bank data show. Most of the funds were for constructing new production facilities. Most of the investments were in export-oriented sectors such as the information technology industry, electronics, and automotive industry.

According to UN Comrade, in 2020, Bulgaria imported goods worth 35 billion US dollars. A total of 12 per cent of the import was from Germany. According to Destatis (Federal Statistical Office of Germany), Bulgaria ranks 45th among the most important export markets for Germany.

In 2020, Bulgaria exported goods worth 32 billion US dollars, 16 per cent of which were exported to Germany, meaning that Bulgaria ranks 38th among the most important import markets for Germany.

Most of the investments of German companies in Bulgaria are made in highly automated production facilities or software development centres.