Bulgaria to Implement New Economic Activity Classification Starting January 1st 2025

Starting January 1, 2025, a new classification of economic activities will come into effect in Bulgaria. The update, approved by the Chairman of the National Statistical Institute (NSI) and published in the State Gazette, replaces the previous classification that had been in use since 2008. The new version ensures that the data collected will be comparable both at the European and international levels.

The revision aims to reflect the changes in economic activities that have occurred over the past years, influenced by factors such as digitalization and globalization, according to the NSI. This updated classification will serve as a standard for the collection and presentation of statistical data in economic areas such as employment and production.

The updated classification introduces new sections, groups, and classes to better represent various forms of production and emerging economic activities. A total of 287 groups will be included in the new version, which is an increase of 15 compared to the current system.

The NSI highlights that technological development and shifts in economic structures have driven the need for these updates. For example, one significant change in the new classification is the division of the previously combined sector of "Creation and dissemination of information and creative products, telecommunications" into two distinct sectors. The new sectors are "Publishing, radio, and television activities, content creation and distribution" and "Telecommunications, computer programming, consulting, IT infrastructure, and other information services."

Additionally, the classification will remove the section on "Wholesale and retail trade in motor vehicles and motorcycles, maintenance, and repair." These adjustments reflect the ongoing evolution of Bulgaria's economy and the growing need for updated statistical methods.