Bulgaria’s Foreign Trade in Goods

Paskal Zhelev
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Paskal Zhelev: University of National and World Economy

Chapter Chapter 7 in Bulgaria in the Global Economy, 2025, pp 97-115 from Springer

Abstract: Abstract This chapter provides a comprehensive analysis of Bulgaria’s foreign trade in goods, focusing on the post-EU accession period and its implications for the country’s economic development. It examines key trends in trade openness, balance of trade, and market shares, highlighting Bulgaria’s integration into the EU single market and its evolving role within global division of labor. The chapter explores the structural transformation of Bulgaria’s export profile, emphasizing gradual shifts toward higher value-added sectors such as machinery and chemicals, while also addressing persistent challenges, including a chronic trade deficit and continued reliance on low-technology goods and primary commodities. The analysis incorporates concepts of comparative advantage, trade diversification, and economic complexity to assess Bulgaria’s competitiveness in the international market. Special attention is given to the role of institutional frameworks and industrial policies. The effectiveness of key trade promotion institutions like the Bulgarian Small and Medium Enterprises Promotion Agency, the Bulgarian Export Insurance Agency, and the Bulgarian Development Bank is debated. The chapter concludes by discussing the need for cohesive policy strategies and institutional reforms to enhance Bulgaria’s export capabilities.

Keywords: Trade openness; Export diversification; Economic complexity; Comparative advantage; Industrial policy; Trade promotion agencies (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_7

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DOI: 10.1007/978-3-031-87923-4_7

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