Bulgaria - Nikulipe

Bulgaria

Bulgaria, birthplace of the Cyrillic alphabet, which is used by over 250 million people worldwide is located in the Balkan region and has approximately 6.4 million inhabitants. Bulgaria is a member of the European Union but holds their own currency, Bulgarian lev. Officially, the language of the country is Bulgarian, however the majority of people also speak English. The Bulgarian e-commerce market is currently valued at 3.7 billion USD and is expected to continue growing by 21.5% (CAGR) annually, offering great opportunities for international merchants.

Regions

Balkans

Country Facts

Capital Sofia
Urban population 76%
Population 6.9 M
Median age 44.6 Yr

GDP 101.6 Bn USD
Official language Bulgarian
Currency Bulgarian lev

E-Commerce Facts

E-commerce market revenue 3.7 Bn USD
E-commerce growth 21.5%

Online shopping habits While cash is most popular, wallets are increasingly becoming a preferred method of online payment for Bulgarians

People with mobile phone (% age 15+)

95%
People with internet access (% age 15+)

92.6%
People with bank account (% age 15+)

84%
People with debit card (% age 15+)

71.3%

Card payments
Online banking
Wallets
Other

Growth Opportunities

Bulgaria offers a variety of opportunities international merchants looking to grow their business in new markets:

● With regards to payments, wallets like ePay.bg are gaining popularity in Bulgaria.

● The eCommerce market in Bulgaria is currently valued at 3.7 billion USD and is expected to grow by 21.5% (CAGR) annually, reaching 8 billion USD by 2029.

● The digital infrastructure in Bulgaria is well-developed: 92.6% of the adult population are having access to the Internet, and more than 95% are using mobile phones.

Today, Bulgaria is a fast growing e-commerce market and offers excellent opportunities for international merchants both for digital and physical goods.