Bulgaria
Bulgaria was the 72nd largest economy in the world by nominal GDP in 2018. GDP per capita is $9,273 USD. It is a small and open economy with trade at 128 percent of GDP. It is situated in the Balkans with key ports on the Black Sea. It is a member of the EU. Services was the largest economic sector in 2018 (60 percent of GDP), followed by manufacturing (14.4 percent), and agriculture (3.65 percent). In 2017, the largest export sectors were services (21.48 percent), agriculture (13.74 percent), metals (13.7 percent), and minerals (9.2 percent). The largest individual exports were travel and tourism (9.9 percent), ICT services (6.3 percent), refined petroleum (5.4 percent), and transport services (4.97 percent). Its largest export partners were Germany (12.6 percent), Italy (8.2 percent), Turkey (8.6 percent), Romania (7.3 percent), and Greece (5.7 percent). The largest goods imports were copper (7.6 percent), crude oil (6.64 percent), cars (3.6 percent), and medicaments packaged (3 percent). Bulgaria gained independence from the Ottomans in 1878 with Russian help. Under communism, Bulgaria transformed from an agricultural economy to an industrial and urban economy benefitting from Soviet trade and aid. However, once industrialisation was achieved, further productivity growth proved difficult. After the end of communism, and the disbanding of Comecon in 1991, Bulgaria progressed slowly, but FDI increased after Bulgaria joined the WTO in 1996, and again after Bulgaria joined the EU in 2007. Increased privatisations also helped to spur growth. From 2000 through 2008, Bulgaria grew at a rate of over 6 percent. The global financial crisis led to a deep recession in 2009 with growth recovering to a slower rate post-crisis. Strong domestic demand, increased exports, and EU development funds has seen an increase in growth since 2015. Reducing structural unemployment and increasing productivity would unlock new growth. Reducing corruption would also encourage further investment.