Wirtschafts- und Branchenüberblick
Bulgaria is an upper-middle-income EU member state with a diversified economy anchored by manufacturing, services, tourism, energy, and a growing IT and outsourcing sector. The lev is pegged to the euro at a fixed rate, providing monetary stability, and Bulgaria is pursuing eurozone accession. Key export sectors include refined petroleum products, copper, pharmaceuticals, machinery, and agricultural goods. The economy recorded real GDP growth of approximately 2.4% on a decade average and 3.1% in 2025, supported by EU structural and recovery funds. Persistent demographic decline and emigration remain structural headwinds to long-term growth.
Schlüsselsektoren
Alles über Bulgaria →Makro
| BIP nominal, USD | $112.21B |
| BIP-Wachstum real, jährlich | 2.4% |
| Inflation jährlich | 3.5% |
| Bevölkerung Menschen | 6.5M |
| BIP pro Kopf USD | $17,596 |
| Marktkapitalisierung gesamt notiert, USD | $8.90B |
| Marktkapitalisierung / BIP | 7.9% |
| Arbeitslosigkeit | 4.2% |
| Börsennotierte Unternehmen | 250 |
| Börse | Bulgarian Stock Exchange (BSE) |
Datenjahr: 2024. Quellen: World Bank – GDP (current US$) 2024, IMF World Economic Outlook (April 2026), FocusEconomics – Bulgaria Economic Indicators, Macrotrends – Bulgaria Unemployment Rate, European Commission – Economic Forecast for Bulgaria (Spring 2026), Bulgarian Stock Exchange (bse-sofia.bg) – Market Statistics, Wikipedia – Bulgarian Stock Exchange, Wikipedia – SOFIX Index Constituents (February 2026), TheGlobalEconomy.com – Bulgaria Inflation & Unemployment, FinancialReports.eu – Bulgaria Listed Companies, CEIC Data – BSE Market Capitalization.
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Größte börsennotierte Unternehmen
Die größten Unternehmen an der wichtigsten lokalen Börse, nach Marktkapitalisierung.
| # | Unternehmen | Sektor | MarktkapitalisierungUSD | US-Notierung |
|---|---|---|---|---|
| 1 | Eurohold BulgariaEUBG · BSE | Financials / Insurance | $650.00M | — |
| 2 | First Investment BankFIB · BSE | Financials / Banking | $420.00M | — |
| 3 | SopharmaSFA · BSE | Pharmaceuticals | $380.00M | — |
| 4 | Shelly GroupSLYG · BSE | Industrials / Smart Home Technology | $350.00M | — |
| 5 | ChimimportCHIM · BSE | Diversified Industrials | $280.00M | — |
| 6 | MonbatMBT · BSE | Industrials / Batteries | $220.00M | — |
| 7 | Central Cooperative BankCCB · BSE | Financials / Banking | $200.00M | — |
| 8 | Sirma Group HoldingSGH · BSE | Information Technology | $160.00M | — |
| 9 | Advance Terrafund REITATER · BSE | Real Estate / REIT | $140.00M | — |
| 10 | Doverie United HoldingDUH · BSE | Diversified / Industrials | $130.00M | — |
| 11 | Bulgarian Real Estate Fund REITBREF · BSE | Real Estate / REIT | $110.00M | — |
| 12 | Holding VarnaHVAR · BSE | Real Estate / Diversified | $95.00M | — |
| 13 | Bulgarian Stock Exchange ADBSE · BSE | Financials / Exchange Operations | $90.00M | — |
| 14 | Elana Agrocredit ADEAC · BSE | Financials / Agricultural Lending | $75.00M | — |
| 15 | Smart Organic ADSO · BSE | Food & Beverage / Organic Products | $55.00M | — |
| 16 | Wiser Technology ADWISR · BSE | Information Technology | $45.00M | — |
In den USA gehandelte ETFs
In den USA notierte Fonds, die Zugang zu diesem Markt bieten – der einfachste Weg für viele US-Anleger.
| ETF | Anlagebereich | Kostenkennziffer% jährlich | Exposition% des Fonds |
|---|---|---|---|
| EXPOExpat Bulgaria SOFIX UCITS ETF · Expat Asset Management | Einzelnes Land UCITS | 0.50% | 100% |
| FRNInvesco Frontier Markets ETF · Invesco | Breite Schwellenländer | 0.70% | 1% |
| FMiShares MSCI Frontier and Select EM ETF · BlackRock (iShares) | Breite Schwellenländer Reference only | 0.79% | 0% |
Lokale Börse & Zugang
| Börse | Bulgarian Stock Exchange |
| Kürzel | BSE |
| Website | www.bse-sofia.bg |
| Währung | BGN |
Lokaler Brokerzugang
The Bulgarian Stock Exchange (BSE) in Sofia is the sole licensed domestic exchange. International retail investors typically access BSE-listed securities through EU-regulated brokers with access to the BSE trading platform (T7 system). Interactive Brokers provides access to BSE for eligible clients. Liquidity on the main market is moderate; bid-ask spreads can be wide for smaller-cap names. Settlement is in BGN (T+2). No major US full-service broker offers direct BSE trading; European brokers such as Saxo Bank, Exante, and Freedom Finance Europe provide the most accessible routes for non-Bulgarian residents.
Globale Broker mit Zugang zu ausländischen Märkten
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Nur zur Orientierung aufgeführt – keine Empfehlung. Verfügbare Märkte, Gebühren und Anmeldebedingungen variieren je nach Broker und Wohnsitzland.
Umzug & Aufenthalt
Investment-Visa / Residenzprogramm
Förderprogramme No formal investment-migration programme (CBI abolished 2022)
Bulgaria formally abolished its Citizenship by Investment (CBI) programme in March 2022 following pressure from the European Commission and European Parliament. The programme had previously allowed non-EU nationals to obtain Bulgarian citizenship by investing BGN 2 million (approximately USD 1.1 million) in government bonds or regulated investment vehicles. No equivalent direct citizenship-by-investment route is currently in place. A standard long-term residency permit may still be obtained by non-EU nationals who establish a company employing Bulgarian citizens or through other legal migration channels, but these are not formalised investment-migration programmes.
Benötigen Sie Unterstützung bei der Antragstellung? Spezialisierte Investment-Migrations-Berater wie Henley & Partners.
Zugang für ausländische Investoren
Bulgaria is an EU and Schengen member state (Schengen accession completed January 2024 for air and sea borders). EU/EEA citizens may reside and work without restriction. Non-EU nationals may apply for long-term residence permits under standard immigration rules. The cost of living is among the lowest in the EU, and Sofia has an active expat and digital-nomad community. Bulgaria applies a flat 10% personal income tax rate.
In den USA notierte ADRs & Kreuznotierungen
Unternehmen aus diesem Land, deren Aktien auch in den USA gehandelt werden – investierbar über ein normales US-Brokerkonto.
| Unternehmen | US-Ticker | Lokaler Ticker | Hinweis |
|---|---|---|---|
| First Investment Bank AD | FIB | No US ADR programme exists for Fibank. Shares are listed solely on the Bulgarian Stock Exchange in Sofia. | |
| Shelly Group AD | SLYG | Shelly Group trades on the BSE and via the EuroBridge dual-listing segment connected to Deutsche Börse Xetra, but holds no US ADR or OTC listing as of the data year. | |
| Sopharma AD | SFA | Sopharma has no US ADR or OTC-listed cross-listing. Shares trade exclusively on the Bulgarian Stock Exchange in BGN. International investors access the stock through BSE-connected brokers. |