The Bulgarian Chamber of Commerce and Industry presents for the 14th time the publication "Bulgaria in Figures®". It reflects the main macroeconomic indicators of the country for the last five years, as well as pays special attention to Bulgaria's place in international rankings - an important reference point for foreign investors. According to the BCCI, Bulgaria's critical positions in the international rankings can serve as a foundation for the creation of a future management program by the relevant institutions.
In 2022, the country's GDP will reach 84.5 billion euros, which is the highest level so far, with GDP growth of 3.4%. Unemployment remains low at 4.3%, approaching pre-crisis levels (4.2% in 2019).
It is important for every investor to know about the possibility of 0% corporate tax in municipalities with over 25% above average unemployment, which number 165 out of 265 municipalities as of 2022. Bulgaria is a leader in terms of the tax system in the EU and this is one of our main competitive advantages that the country offers.
Infвation in 2022 reached 15.3%, but it is expected to gradually decrease in 2023 and in 2024. to return to healthier levels. Despite the high inflation, the Bulgarian companies managed to get involved in the rearrangement of the supply chains, as evidenced by the record for the last 15 years of Bulgaria's exports in 2022. According to NSI data, it is worth 48 billion euros, or a growth of 37%. Expectations for 2023 are for even better results, but at a reduced profit margin for businesses. Bulgaria's leading trade partners in terms of exports are again Germany, Romania and Italy, which form about 50% of Bulgaria's exports to the EU.
Imports of goods and raw materials also registered record levels in 2022. with a growth of 41% compared to the previous year and a level that amounts to slightly more than 55 billion euros, with the trade balance again remaining negative for our country.
In the current situation of a military conflict not far from us, as well as great uncertainty in the supply and prices of raw materials and energy products, investment activity is developing at a slow and highly measured pace.
The labor market in our country is represented by 53% men and 47% women. The average salary continues to grow, reaching 889 euros in 2022, and for the first quarter of 2023. reaches 965 euros.
Bulgaria improves its place in the Global Peace Index rankings, taking 24th place in 2022, compared to 27th place in 2021. The Rule of Law Index rose by 2 positions to 60th place out of 140 countries. In the World Press Freedom Index 2023, we have a significant growth - from 91st place in 2022 to 71st place.
However, in other rankings we see a decline such as Economic Freedom in the World 2023 we fall from 29th place to 32nd place out of 176 countries, as well as in the E-Government Development Index we become 52nd place, to 44th in 2020 out of 193 countries. In the Democracy Index, we also have deteriorated positions and from 53rd place in 2021, for 2022 we fall to 57th out of 167 countries.
For the International Property Index 2022, there is also a drop - from 56th place for 2021 to 64th place for 2022. out of 129 countries surveyed.
In other rankings, Bulgaria also has a deterioration in its position, namely in the Global Competitiveness Ranking of the International Institute of Management (IMD), where our country is positioned in 57th place out of 64 countries, and in the previous year we were at 53rd place.
You can get more information about Bulgaria's place in the international rankings from the full version of the brochure.