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Bulgaria: New Trade Conditions, 1990
Country Study > Chapter 3 > The Economy > Foreign Trade > New Trade Conditions, 1990

NEW TRADE CONDITIONS, 1990


The end of central planning opened the Bulgarian economy to world competition and began a wrenching transition for which it was ill-equipped in finance, industrial diversity, agricultural infrastructure, and available natural resources. The transition was made doubly difficult because the long years of privileged access to energy had fostered inefficient energy use in the Bulgarian economy.

Under the new economic conditions, imports would be purchased only in hard currency; although Western firms and governments offered some credits and aid in 1991, Western investors preferred Poland, Hungary, and Czechoslovakia to Bulgaria. Those countries were more familiar to Westerners, and they had had relatively advanced market economies before World War II. For these reasons, in the early 1990s they received the lion's share of a rather meager Western investment in Eastern Europe.

Data as of June 1992




Last Updated: June 1992


Editor's Note: Country Studies included here were published between 1988 and 1998. The Country study for Bulgaria was first published in 1992. Where available, the data has been updated through 2008. The date at the bottom of each section will indicate the time period of the data. Information on some countries may no longer be up to date. See the "Research Completed" date at the beginning of each study on the Title Page or the "Data as of" date at the end of each section of text. This information is included due to its comprehensiveness and for historical purposes.

Note that current information from the CIA World Factbook, U.S. Department of State Background Notes, Australia's Department of Foreign Affairs and Trade Country Briefs, the UK's Foreign and Commonwealth Office's Country Profiles, and the World Bank can be found on Factba.se.

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