Bulgaria-Cyprus Bilateral Trade Analysis 2023
Complete trade statistics: $226.14M total volume •Bulgaria surplus: $97.28M
Bulgaria → Cyprus
$161.71M
Exports (2023)
Cyprus → Bulgaria
$64.43M
Imports (2023)
Trade Balance
$97.28M
Surplus for Bulgaria
Total Trade
$226.14M
Combined Volume
Trade Flow Visualization
Direct trade relationship between Bulgaria and Cyprus. Green line shows exports from Bulgaria, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Bulgaria-Cyprus commercial relationship and competitive positioning in global markets.
Bulgaria → Cyprus Exports
Export Market Intelligence
🎯 Strategic Export Focus
Bulgaria's export portfolio to Cyprus demonstrates strategic specialization, with iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling representing a key competitive advantage in this bilateral market.
Cyprus → Bulgaria Imports
Import Dependency Profile
📦 Import Strategy Analysis
Bulgaria's import pattern from Cyprus reveals significant dependencyin taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Bulgaria demonstrates competitive strength in exportingiron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling to Cyprus, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $226.14M trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Bulgaria-Cyprus Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $226.14 millionrepresenting a significant bilateral economic relationship
- Trade Balance: Bulgaria maintains a surplus of $97.28 million
- Export Focus: Bulgaria's primary exports include iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling, iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, n.e.c. in heading no. 7214, other than of rectangular cross-section, oil-cake and other solid residues: whether or not ground or in the form of pellets, resulting from the extraction of sunflower seed oils
- Import Dependencies: Key imports from Cyprus include taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves, medicaments: consisting of mixed or unmixed products n.e.c. in heading no. 3004, for therapeutic or prophylactic uses, packaged for retail sale, copper: waste and scrap
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $226.14M represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Bulgaria leveraging its comparative advantages in iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Bulgaria's specialization in iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rollingcomplements Cyprus's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $226.14M bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $226.14M bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $226.14 million bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling and taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Bulgaria's trade surplus of $97.28 million strengthens its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Bulgaria and Cyprus represents a total trade volume of $226.14 million in 2023. This partnership demonstrates a favorable trade balance for Bulgaria, with exports exceeding importsby $97.28 million.
Export Strengths
Bulgaria's exports to Cyprus total $161.71 million, with competitive advantages in iron or non-alloy steel: bars and rods, hot-rolled, hot-drawn or hot-extruded, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling, representing $20.02M or12.4% of bilateral exports.
Import Dependencies
Imports from Cyprus amount to $64.43 million, highlighting economic interdependence in taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves, with Taps, cocks, valves and similar appliances: for pipes, boiler shells, tanks, vats or the like, including thermostatically controlled valves comprising28.8% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Bulgaria's competitive position in this bilateral relationship. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Bulgaria and Cyprus in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023