Bulgaria, a land of coal, metals and minerals, perfumery essential oils, research and development and more

Beyond challenges related to corruption, Bulgaria is a market + 7 million potential consumers. New business dynamics are moving forward with a private sector accounts for more than 80 per cent of GDP.

Bulgaria is steadily becoming an industrial economy with scientific and technological research at the top of its budgetary expenditure priorities.

Economic activities are fostered by the lowest personal and corporate income tax rates in the EU. Sofia and the surroundings Yugozapaden planning area are the most developed region of the country.

Extraction of metals and minerals, production of chemicals, machinery and vehicle components, petroleum refining and steel are among the major industrial activities.

Bulgaria is Europe's sixth-largest coal producer. Local deposits of coal, iron, copper and lead are vital for the manufacturing and energy sectors.

Top export items of Bulgaria are industrial commodities such as oil products, copper products and pharmaceuticals.

It is the largest global producer of perfumery essential oils such as lavender and rose oil.

Tourism is a great significant contributor to economic growth. Bulgaria has emerged as a travelling destination with its inexpensive resorts and beaches outside the reach of the tourist industry. Most of the visitors are British, Romanian, German and Russian.

Bulgaria spends 0.95% of GDP on research and development. Principal areas of research and development are energy, nanotechnology, archaeology and medicine.

Mobile services are provided by three operator including Mtel, Telenor and Vivacom.

Bulgaria's strategic geographic location and well-developed energy sector make it a key European energy centre despite its lack of significant fossil fuel deposits.

The rapid expansion of alternative energy sources such as wind and solar power stations make Bulgaria one of the fastest-growing wind energy producers in the world.

Railroads are a major mode of freight transportation, although highways carry a progressively larger share of freight. 

Sofia and Plovdiv are the country's air travel hubs, while Varna and Burgas are the principal maritime trade ports.