Bulgarian Industry Drives 22.5% of GDP in 2024, Targets High-Tech Growth

Bulgarian industry remains a key pillar of the national economy, contributing 22.5% to the country’s GDP in 2024, Deputy Minister of Economy and Industry Doncho Barbalov highlighted at the opening of the 79th International Technical Fair in Plovdiv. He stressed that the sector is a primary driver of economic growth and plays a central role in enhancing the overall well-being of the Bulgarian economy.

Barbalov noted that this year’s fair emphasizes industries that are at the forefront of modern economic development, particularly those linked to the green and digital transitions. Sectors such as information and digital technologies, electronics, energy, construction, electromobility, mechanical engineering, and industries supporting the green economy are prioritized, aligning with European Union objectives.

“These sectors will shape the competitiveness of economies in the decades ahead. They offer significant potential for creating high-value jobs, innovation, quality exports, and sustainable economic growth,” the Deputy Minister said.

Despite ongoing geopolitical and economic challenges, Bulgarian industry generated an added value of 23.3 billion euros in 2024, demonstrating resilience and potential for high-tech development compared to other European countries, Barbalov pointed out.

For the first time in Bulgaria’s modern history, the ministry is treating industry as a national priority. Work on a National Industrial Strategy, set to guide development until 2030, began in 2025. The strategy aims to enhance industrial performance in three key areas: improving the regulatory environment, accelerating the dual green and digital transition, and developing modern industrial infrastructure, Barbalov explained.