Page 29 - Turkinsurance Digital Magazine

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Bulgaria

Bulgaria, which is developing with a population
of 6.9 million and is in the upper middle income
economic class, has a 2.4% penetration rate in the

insurance sector with a total premium production of
USD 1 billion 651 million. Motor own damage and
Other property and casualty are the branches with
the highest share in non-life branches, while the life

branch has an 11% share in total premium production

The Bulgarian economy is an economy that operates according to free market
conditions, is open to the outside, has a moderately developed private sector,
and has a small number of strategic state-owned enterprises. It is also a free
market economy with a large private sector and a smaller public sector. Bul-
garia has experienced rapid economic growth in recent years and is considered
an industrialized upper middle-income economy. The World Bank considers
the Bulgarian economy to be ‘upper middle income’.

Ülkedeki en güçlü sektörler; enerji, madencilik, metalurji, makine endüstrisi,
tarım ve turizmdir. The main export items are textiles, shoes, iron and steel,
machinery and its components, mineral fuel; the main import items are ma-
chinery and its components, metals, chemicals, plastics, mineral fuels.

Macroeconomic indicators
Population (millions) 6,9
Inflation rate %3.1
GDP (billions of USD) 68,49
Real GDP (PPP, billions of USD) 155,06

GDP Real Growth Rate %3,39
Real GDP Per Capita 22.400
Unemployment rate %5,66
Public debt 23.9% of GDP (2017 est.)
Insurance industry share of world market
Life 0.01%
Non Life 0.04%
Total 0.03%

Source: CIA, Swiss Re