Bulgaria's Customs Revenues from U.S. Imports

Bulgaria's Customs Revenues from U.S. Imports

Business

Bulgaria's customs duties from U.S. imports were approximately BGN 13 million annually in 2023 and 2024, making up around 4% of the country's total tariff revenues. Additionally, Bulgaria collected between BGN 145 million and 149 million annually in VAT from U.S. imports, according to Customs Agency data, CE Report quotes BTA

Despite this, U.S. trade remains a small but stable part of Bulgaria's foreign trade, accounting for about 2.5% of Bulgarian exports and 1.2% of imports. Since joining the EU in 2007, Bulgaria has adhered to the EU's common trade policies, including tariffs and trade agreements.

Main U.S. imports to Bulgaria include motor vehicles, petroleum products, and electronics, with a 10% tariff on cars, while other products like petroleum and electronic components are duty-free.

On April 2, U.S. President Donald Trump announced new global tariffs, which could impact future trade dynamics.

Tags

Related articles

IMF Warns of Global Risks from New US Tariffs
Kristalina Georgieva, Managing Director of the IMF, has expressed concern over the latest tariffs announced by US President Donald Trump, warning they could deepen global uncertainty and exacerbate the fragile state of the world economy.
Hatzidakis’ 7 Measures to Boost Greece’s Economy
Deputy Prime Minister Kostis Hatzidakis outlined seven key interventions to protect Greece’s economy from global instability during an event hosted by the Hellenic-Italian Chamber of Commerce in Athens on Thursday.
Bulgaria Faces Water Crisis Amid Drought Concerns
A parliamentary hearing was held Thursday to address Bulgaria's looming water crisis, driven by low rainfall and unfavorable drought forecasts for 2025.
BGN 1.9 Billion Deficit Expected by March 2025
The Finance Ministry forecasts a budget deficit of BGN 1.9 billion (0.9% of GDP) by the end of March 2025, based on preliminary data.
OpenAI Secures $40 Billion in New Funding
OpenAI has raised $40 billion in new funding, bringing its post-money valuation to $300 billion.