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The Netherlands

Commercial and Economic Section of the Embassy of the Republic of Bulgaria in Hague, The Netherlands

Panko Panov

Koninginnegracht 19, 2514 AB, Den Haag
tel. 0031 6 3917 6070.
e-mail: p.panov@mi.government.bg

Contacts in the Ministry of Еconomy and Industry

Vessela Bayraktarova

Head of Europe Department

Foreign Economic Cooperation Directorate

tel.: +359 2 9407886

v.bairaktarova@mi.government.bg

Ketya Manoilova

State expert,

Europe department

Foreign economic cooperation directorate

tel.: + 359 2 940 7823

k.manoilova@mi.government.bg

Economic relations between Bulgaria and the Netherlands

  1. Trade Turnover (mln. Еuro)

Year

Total turnover

Growth, %

Export

Growth, %

Import

Growth, %

Balance

2011

953.8

23.5

359.7

53.4

594.1

10.4

-234.4

2012

1 148.5

20.4

379.3

5.4

769.2

29.5

-389.9

2013

1 164.0

1.3

480.8

26.8

683.2

-11.2

-202.4

2014

1 214.6

4.3

494.9

2.9

719.7

5.3

-224.8

2015

1 422.9

17.2

540.2

9.2

882.7

22.6

-342.5

2016

1 593.3

638.1

955.2

-317.1

2017

1 773.7

11.3

662.2

3.8

1 111.4

16.3

-449.1

2018

1994.3

12.5

774.3

17.1

1220.0

9.8

-445.8

2019

1964.7

-1.5

756.6

-2.3

1208.2

-1.0

-451.6

2020

1954.5

-0.4

736.6

-2.7

1217.98

1.0

-481.4

2021

2534.8

29.7

870.8

18.3

1664.0

36.6

-793.3

2022

3284.4

29.6

1146.5

31.7

2137.8

28.6

-991.3

For the first half of 2023, trade with the Netherlands is worth 1.493 billion euros, of which exports are worth 466.0 million euros and imports are 1.026 million euros. A decrease in trade was registered by -16.2%, compared to the same period of the previous year, a decrease in exports by -25.5% and a decrease in imports by -11.2% for the same period.

Source: Ministry of Еconomy and Industry

  1. Dutch investments in Bulgaria

Until the end of the first half of 2023, the total value of the Netherlands’ foreign direct investments in Bulgaria amounts to 8.356 billion euros, which ranks the country 1st in terms of FDI in Bulgaria.

Source: Bulgarian National Bank

  1. Legal framework

The basis for the development of Bulgarian-Dutch economic relations are the following agreements:

  • Agreement on technical and financial cooperation between the governments of the Republic of Bulgaria and the Netherlands, signed on 01.10.1998, in force from 01.02.1999;
  • Promotion and Mutual Protection of Investments between the Republic of Bulgaria and the Kingdom of the Netherlands Treaty (Ratified with an act adopted by the 38th National Assembly on 15.12.1999 – SG No. 113 of 28.12.1999 issued by the Ministry of Economy, promulgated, SG No. 30 dated 28.03.2001, in force since 1.03.2001); (denounced with the ratification by both parties of the multilateral termination agreement dated May 5, 2020).
  • New Agreement between the Republic of Bulgaria and the Kingdom of the Netherlands for the avoidance of double taxation with taxes on income and the prevention of fiscal evasion and avoidance. Promulgated in SG no. 55 of July 2, 2021 and enters into force on July 31, 2021.

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