{"id":33354,"date":"2023-02-09T10:02:04","date_gmt":"2023-02-09T08:02:04","guid":{"rendered":"https:\/\/investsofia.com\/trade-energy-and-ict-are-increasing-their-share-and-setting-the-pace-of-sofias-economy-2\/"},"modified":"2023-02-15T09:52:47","modified_gmt":"2023-02-15T07:52:47","slug":"trade-energy-and-ict-are-increasing-their-share-and-setting-the-pace-of-sofias-economy-2","status":"publish","type":"post","link":"https:\/\/investsofia.com\/en\/trade-energy-and-ict-are-increasing-their-share-and-setting-the-pace-of-sofias-economy-2\/","title":{"rendered":"Trade, Energy, and ICT Are Increasing Their Share and Setting the Pace of Sofia’s Economy\u00a0"},"content":{"rendered":"

\"\"The economy of Sofia remains the biggest regional economy in the country with 42.8% of Bulgaria\u2019s GDP or over 51 billion. This is five times more than the economy of the second-largest region in our country, Plovdiv, and seven times more than<\/span><\/p>\n

the economy of Varna region, shows our latest report titled “Sofia: Economic and Investment Profile 2022”, prepared by the Institute for Market Economics. The document is now available for download from our site<\/span> here<\/span><\/a>.\u00a0<\/span><\/p>\n

According to the analysis, the city’s economy is quickly overcoming the effects of the pandemic and is keeping the trend of population influx and attracting talent and workforce from the rest of the country providing much better opportunities for education and career development. The gross domestic product per capita reaches BGN 38.9 thousand, which is more than 2.2 times higher than the average for the country. Between 2017-2020, the gross domestic product per capita in Sofia recorded a growth of nearly 26% compared to a growth of 19% for the country.<\/span><\/p>\n

Sofia gets ahead of all other economic centers in Bulgaria dominating the <\/span>sector of Services<\/span><\/i>, whose gross added value is over BGN 38 billion or over 86% of the added value in the city’s economy. The gross added value in the <\/span>Industry sector<\/span><\/i> reaches over BGN 6 billion and brings the remaining nearly 14% of the added value to the economy. Thus, the capital contributes to \u00bc of the added value of <\/span>Industry<\/span><\/i> and more than \u00bd of the added value of <\/span>Services<\/span><\/i> in Bulgaria.<\/span><\/p>\n

The economic profile of Sofia is strongly influenced by the dynamic development of the wide periphery of the Capital. Many industrial enterprises and logistics sites are located on the territory of neighboring and\/or nearby municipalities. The added value of <\/span>Industry<\/span><\/i> in Sofia (region) reaches nearly BGN 2 billion, which is mainly formed by the operations of mining and processing enterprises in Sredna Gora and enterprises in industrial zones such as Bozhurishte, Kostinbrod, etc. The strong industry in the periphery of Sofia, as well as the daily labor migration to the Capital, support the thesis that the economy of Sofia should be considered as an investment destination that covers a wider territory than that of the Sofia Municipality itself.<\/span><\/p>\n

More highlights<\/b><\/p>\n