Head of Department “Asia, Africa, America and Australia”
Adelina Kyoseva
ул. “Knyaz Alexander I” 12
tel.: +359 02 940 7688;
a.kioseva@mi.government.bg
Referent for Libya
Mehmed Myuhtar
ул. “Knyaz Alexander I” 12,
tel.: +359 2 940 76 52
m.myuhtar@mi.government.bg
I. Trade and economic relations between Bulgaria and Libya
Diplomatic relations between Libya and Bulgaria were established on June 30, 1963. A Bulgarian embassy was opened in Tripoli in 1966.
In the recent past, Libya occupies an important place in Bulgaria’s foreign trade, on the one hand as a supplier of petroleum and on the other – as a market for our goods and engineering services.
1. Bilateral Trade:
| Years | Year Trade (USD milion) | growth/decline,% | export | growth/decline,% | import | growth/decline,% | balance |
| 2017 | 74.06 | -24.8 | 66.65 | -29.3 | 7.41 | 80.7 | 59.24 |
| 2018 | 68.3 | -7.8 | 65.2 | -2.2 | 3.1 | -58.2 | 62.1 |
| 2019 | 72.706 | 6.5 | 72.7 | 11.5 | 0.006 | -99.8 | 72.694 |
| 2020 | 161.6 | 122.3 | 134.9 | 85.6 | 26.7 | 444900.0 | 108.2 |
| 2021 | 198.4 | 22.8 | 137.8 | 2.1 | 60.6 | 127.0 | 77.2 |
| I-VI 2022 | 129.4 | 27.0 | 121.6 | 21.5 | 7.8 | 333.3 | 113.8 |
In the first six months of 2022, bilateral trade reached 129.4 million USD, which is a growth of 27% over the same period of 2021. Bulgarian exports for the specified period were worth 121.6 million USD, which is a growth of 21.5% compared to the same period for 2021. Imports from Libya for the specified period were worth 7.8 million USD, and here a significant growth of 333.3% is reported. Compared to the same period in 2021.
Our trade with Libya for 2021 amounted to 198.4 million USD. of which export 137.8 million USD, and the import was USD 60.6 million. Our exports to Libya during the period mainly consisted of: wheat and a mixture of wheat and rye; barley and bakery, pastry or biscuit products, whether or not with added cocoa; wafer, empty capsules of dough for medicine, dry dough sheets of flour, starch or starch and similar products.
For comparison, our trade with Libya in 2020 amounted to 161.6 million USD. of which exports are 134.9 million USD, imports are 26.7 million USD in 2021, a noticeable growth in both exports and imports.
For the period of 2020 compared to 2019, we observe a growth in trade between the two countries of 118%, which is equal to 158.3 million USD. e., taking into account the growth in Bulgarian exports (131.6 million USD – about 81% growth), as well as a significant increase in imports from Libya – 26.7 million USD. Our exports consist chiefly of wheat and a mixture of wheat and rye; barley and bakery, pastry or biscuit products, whether or not with added cocoa; wafer, empty capsules of dough for medicine, dry dough sheets of flour, starch or starch and similar products.
Compared to 2018, 2019 saw a slight increase in trade between the two countries (72.7 million USD), as well as in Bulgarian exports (72.7 million USD). Libyan imports hit a big drop, amounting to $0.006 million.
Leading positions in exports with Libya for 2021
| Export from Bulgaria | % of total exports |
| Wheat and a mixture of wheat and rye | 51.9 |
| Petroleum oils and oils from bituminous minerals, other than crude; not mentioned nor including other products containing by weight 70% or more of petroleum oils or oils from bituminous minerals of which these products are the main component | 13,7 |
| Barley | 11,6 |
Leading positions in exports with Libya for 2020.
| Export from Bulgaria | % of total exports |
| Wheat and a mixture of wheat and rye | 33,9 |
| Petroleum oils and oils from bituminous minerals, other than crude; not mentioned nor including other products containing by weight 70% or more of petroleum oils or oils from bituminous minerals of which these products are the main component | 31,6 |
| Barley | 14,7 |
Leading positions in exports with Libya for 2019.
| Export from Bulgaria | % of total exports |
| Wheat and a mixture of wheat and rye | 53.8 |
| Barley | 15.5 |
| Pastry, confectionery or biscuit products, whether or not with added cocoa; wafer, empty capsules of dough for medicine, dry dough sheets of flour, starch or starch and similar product | 5.5 |
Leading positions in exports with Libya for 2018
| Export from Bulgaria | % of total exports |
| Wheat and a mixture of wheat and rye | 53,0 |
| Barley | 26,2 |
| Corn | 3,5 |
Leading positions in exports with Libya for 2017
| Export from Bulgaria | % of total exports |
| Wheat and a mixture of wheat and rye | 69,9 |
| Barley | 7,3 |
| Corn | 9,5 |
3. Investments
According to BNB data in the period 2014-2021. Annual data; Net foreign investments in Bulgaria; Position at the end of the period; Total financial assets/liabilities;
| years | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
| Libya | 0,0 | 0,0 | 0,0 | -0,1 | 0,0 | 0,1 | 0,0 | 0,0 |