Bulgaria is heavily dependent on its exports, which mainly go to the EU and Turkey. The country has retained excellent industrial expertise (steel, chemicals, electronics, defence and IT), which is complemented by low wages. In the last 10 years (2010-2020), total exports have grown strongly, e.g. exports of goods grew by 54%.

According to the Swiss Federal Office for Customs and Border Security (FOCBS), Swiss exports to Bulgaria increased annually, with the exception of 2020, when exports grew by 70% and totalled CHF 454 million. Switzerland mainly exports pharmaceutical products, electrical machinery and industrial goods as well as plastic products. Most Bulgarian goods imported by Switzerland are chemicals, textiles and clothing, electrical chains and motors. Imports of services from Bulgaria are mainly IT services, in particular the outsourcing system provided by around 1000 Bulgarian start-ups, and the development of software for companies. The tourism sector is behind increased exports of services.

Economic growth was 1.8% in 2023, slightly higher than expected. The driving forces behind the growth were private consumption and investments, which were supported by a strong rise in wages and low interest rates that underpinned the momentum of domestic consumption. Although the volume of trade in goods between Switzerland and Bulgaria has increased, it is still modest (CHF 1 billion). Switzerland ranks fourth in terms of foreign investment. Even if the comparative advantages of a location in Bulgaria are dwindling, the potential is there, as evidenced by the growth and track record of most Swiss companies in Bulgaria.