Bulgaria - Nikulipe

Bulgaria

The Balkan region includes Bulgaria, which has a population of 6.9 million. 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. With a rapid growth of 7.6%, the country’s GDP is over 84 billion USD. The Bulgarian e-commerce market is worth over 2.2 billion USD and is expected to continue growing by 13% 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

Region Balkans
GDP 84 Bn USD
GDP growth 7.6%
Official Language Bulgarian
Currency BGN

E-Commerce Facts

E-commerce market revenue 2.2 Bn USD
E-commerce growth 13.4%

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

People with mobile phone (estimate)

95%
People with internet access

75%
E-commerce penetration

52.2%
People with bank account

84%
People with credit card

71%

Card payments
Online banking
Wallets
Other

Growth Opportunities

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

● The digital infrastructure in Bulgaria is established: with 84% of the population having bank accounts, 75% having access to the Internet, and more than 95% of people using mobile phones.

● In Bulgaria, 52% of people in Bulgaria now shop online, and it is expected that this number will increase. By 2027, the e-commerce market is anticipated to grow rapidly and reach over 3.7 billion USD.

● With a rapid GDP growth of 7.6%, Bulgaria is on of the TOP 10 fastest growing economies in the European Union.

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

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