Germany has lost its former leading position as the most preferred business partner for Bulgarian companies, according to a recent survey by the Bulgarian Chamber of Commerce and Industry.
The leading position is now held by Turkey, Bulgaria's southern neighbour. However, the difference between the two countries is only 1%. On the top six preferred partners of Bulgarian business are also China, Great Britain, Italy and the USA.
Partnerships in areas such as machines and equipment manufacturing and trade, food and beverage industry, construction, transport and logistics are important for domestic entrepreneurs.
Turkey tops the rankings following the growth in bilateral trade. As of October 2022, exports of Bulgarian goods to Turkey had increased by 34% and imports by 62% compared to the same period in 2021.
In the survey, 70% of the Bulgarian entrepreneurs interviewed said that the deterioration of the geopolitical situation on the Eastern European border had had an impact on their business. 28% said that the war between Russia and Ukraine had not affected their business.
A Turkish company, which manufactures diamonds in laboratory conditions by recreating the natural process of creation of single crystal diamonds, is considering making an investment in Bulgaria. Though it has not settled on a location, it is looking..
In July 2023, the monthly inflation as measured by the consumer price index was 0.9% compared to the previous month , as the annual inflation for July 2023 compared to July 2022 was 8.5%. In July 2023, compared to the previous month, the..
The leadership of the Bulgarian Industrial Association have met with the new Bulgarian ambassador in Beijing, Andrey Tehov. Chair of the association, Dobri Mitrev, informed the diplomat that entrepreneurs trading with China consider..
The gross financial assets of Bulgarian households in 2022 reached 123 billion euros. The sum per capita is 14,510 euros. According to..
Partly Cloudy
Mostly Cloudy