Foreign Economic Relations of Bulgaria with Key Global Players

Paskal Zhelev
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Paskal Zhelev: University of National and World Economy

Chapter Chapter 6 in Bulgaria in the Global Economy, 2025, pp 79-95 from Springer

Abstract: Abstract This chapter analyzes Bulgaria’s foreign economic relations with key global players—the European Union, the USA, and China—within the evolving context of global economic fragmentation. It offers a comparative assessment of trade intensity, intra-industry trade patterns, and investment flows to highlight the unique characteristics of each partnership. The EU emerges as Bulgaria’s dominant economic partner, providing both market access and regulatory frameworks that have shaped the country’s post-accession economic policies. The chapter also evaluates Bulgaria’s economic ties with the USA, emphasizing their strategic nature in sectors like energy, technology, and defense, while underscoring the growing potential for diversification in high-value industries. Relations with China are explored through the lens of trade imbalances, the Belt and Road Initiative, and the challenges posed by Bulgaria’s alignment with EU regulations. The chapter integrates historical context with quantitative indicators, providing insights into how geopolitical tensions, such as the US-China rivalry and EU-China trade frictions, affect Bulgaria’s economic positioning. It concludes by stressing the importance of a balanced approach, advocating for diversification strategies that mitigate risks associated with overreliance on a single partner while leveraging opportunities for sustainable growth in an increasingly fragmented global economy.

Keywords: EU; USA; China; Foreign trade; FDI; Geoeconomic fragmentation; Trade diversification (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:socchp:978-3-031-87923-4_6

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DOI: 10.1007/978-3-031-87923-4_6

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