Growth of Bulgarian export is expected

According to economists from Unicredit Bulbank, Bulgarian export has the potential to reach double-digit rate of growth during this year. The prime reason for this is said to be the economic growth of the main trading partners of Bulgaria from the Eurozone, where over half of the export is directed to.

The analysts calculate that Bulgarian commodity export grows at rates, which are higher than the growth rates of the global trade. This shows not only the competitiveness of Bulgarian goods, but also the stable increase of Bulgarian market share of the global trade.

The export of goods and services played the main role in the recovery of Bulgarian economy from global recession. For the period 2008-2016 the total export increased by 39% and the commodity export alone increased by 60.1%.

It is also worth noting that the average growth of the GDP for the last nine trimesters is 3.5% on an annual basis and it is expected to reach 3.7% during this year and 3.9% in the next year.

About Author: brcci