The analysis of the Ministry of Economy and Industry shows that in 2024, Bulgaria's trade with the US accounts for 1.7% of our country's total trade, with exports to the US accounting for 2.6% of total exports, and imports accounting for 0.8% of total imports. This was announced by the Minister of Economy and Industry, Petar Dilov, during parliamentary control of an issue regarding the US trade restrictions.
Minister Dilov emphasized that in general, the share of bilateral trade between Bulgaria and the US is relatively small in the total trade of our country, which is why the imposed export duties will not have a significant direct effect on the Bulgarian economy.
„In 2024, the EU accounts for 64% of our country's exports and 57.3% of imports. Given this, a negative indirect effect can also be expected from the duties imposed by the US on our main EU trading partners, i.e. they will also affect Bulgaria's bilateral trade with these countries,“ he pointed out.
The Minister of Economy drew attention to the fact that in any case, the impact on value chains is inevitable. “There is a possibility that this could lead to deficits in certain supplies, a decrease in market shares, but it could also lead to stimulating the development of new production and the implementation of new business collaborations“, said Dilov.
According to him, the Ministry of Economy and Industry is in dialogue with business, studying and analyzing the impact of the restrictions introduced on imports into the US, in order to implement an effective policy to support our economy and mitigate the negative effect of the US customs policy towards the EU.
Minister Dilov informed that at the Foreign Affairs Council in the format of Trade Ministers, held on April 7, 2025, the Bulgarian side emphasized that the United States is not only the main trading partner of the EU, but also a key strategic and geopolitical ally. "Given this, it is imperative that we maintain a consistent and constructive dialogue in all areas of mutual interest and remain open to negotiations, with the aim of finding a mutually beneficial solution and avoiding further escalation," he stressed.