Bulgaria
Import/Export in Bulgaria
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Bulgaria Importing/Exporting
In the year to December 2019, total UK exports to Bulgaria amounted to £953 million (ONS, 2020). Amongst the top UK goods exports by value were specialised machinery, beverages, medicinal and pharmaceutical products, clothing and general industrial machinery. UK companies active in the market include Shell, GSK, JCB and Mott McDonald.
Gateway to emerging Europe
Bulgaria is a part of the Central and Eastern European (CEE) region, with over 100 million consumers, so it can act as a gateway into these markets. The CEE region is easily accessible from the UK, offers considerable potential for British businesses and has widespread use of English as the business language.
Strategic location
Bulgaria is bordered by large countries such as Turkey, Greece, Serbia and Romania, while its eastern coast borders the Black Sea. If your business is looking to export to a larger Eastern European market, Bulgaria may be a good place to base your operations.
Economic growth
Since the 2009 global economic and financial crisis, Bulgaria has made a sustained economic recovery, with GDP growth reaching 3.2% in 2018 (World Bank, 2019). The economy has proved relatively resilient due to growth in export, offshoring and tourism.
Bloomberg has ranked Bulgaria as the sixth best country for doing business in eastern Europe and central Asia. The World Bank rates Bulgaria 38th for ease of doing business. A T Kearney ranks Bulgaria as number one in Europe and ninth globally as an outsourcing destination.
- alcoholic beverages, including wine and beer;
- tobacco products;
- energy products and electricity;
- automobiles;
- coffee and coffee extracts.
- upon their production within the territory of the country;
- upon their introduction into the territory of the country from the territory of another Member State;
- upon their import into the territory of the country.
Bulgaria Excise duty
Excise duty is an indirect tax which is charged on the following goods:
These goods are subject to excise duty unless placed under an excise duty suspension arrangement:
The import of excisable goods means the introduction of non-Community excisable goods into the territory of the country, as well as the introduction of Community excisable goods from third countries, which are part of the customs territory of the EU. Where, upon introduction into the territory of the country, the goods are placed under a customs procedure, their import is considered complete when they are released for free circulation.
The obligation to pay excise duty arises as from the date of release of the excisable goods for consumption.