Bulgaria: Challenges and Opportunities for It to Strengthen the Competitive Position of Agricultural Exports
The article says Bulgaria has traditionally been considered one of the largest suppliers of agricultural produce. It adds that agriculture has played a significant role in the country’s GDP (gross domestic product). However, in recent years there has been an unfortunate trend, with the growth rate of agricultural imports exceeding the pace of export growth. This has led to deterioration in Bulgaria’s positive trade balance. The paper has identified the major problems associated with the expansion of the share of imported products. At the same time, due to the increased access of the country’s goods to the European market, the agricultural sector’s export potential has grown. More recently, a change of foreign relations and trade have caused a re-orientation of its exports to other countries and regions in the world. In conclusion, the document proposes a series of moves Bulgaria could take to improve the export competitiveness of its agricultural sector.