Cyprus
 

Commercial and Economic Section of the Embassy of the Republic of Bulgaria in Nicosia, Cyprus

Ivan Ivanov

e-mail:i.ivanov@mi.government.bg

Contacts in the Ministry of Economy and Industry
Vessela Bayraktarova
Head of Europe Department
Foreign Economic Cooperation Directorate
Ministry of Economy
Tel.: +359 2 9407886
v.bairaktarova@mi.government.bg
Maria Boyadzhieva-Gouneli
Chief Expert, Europe Department
Foreign Economic Cooperation Directorate
Ministry of Economy
tel.: + 359 2 9407689
m.boyadzhieva@mi.government.bg

 

Economic relations between Bulgaria and Cyprus

1. Trade turnover (mln. euro)

Year

Total turnover

growth,%

Export

growth,%

Import

growth,%

Balance

2011

140.9

91.6

61.2

33.6

79.7

187.5

-18.4

2012

162.6

15.4

83.6

36.5

79.0

-0.8

4.6

2013

117.4

-27.8

74.3

-11.1

43.2

-45.4

31.1

2014

134.6

14.6

99.2

33.6

35.4

-18.0

63.8

2015

193.9

44.0

153.1

54.4

40.7

15.1

112.4

2016

111.6

-42.4

82.0

-46.5

29.6

-27.2

52.4

2017

204.8

83.5

80.4

-2.0

124.4

320.3

-44.0

2018

228.4

11.5

102.4

27.4

126.0

1.3

-23.6

2019

254.9

11.6

110.7

8.1

144.3

14.4

-33.6

2020

163.0

-36.1

116.4

5.2

46.6

-67.7

69.8

2021

216.8

33.0

140.3

20.5

76.5

64.3

63.8

Source: Ministry of Economy and Industry

2. Cyprus investments in Bulgaria

According to the statistical data provided by the Bulgarian National Bank, the total amount of direct investments from Cyprus to Bulgaria until the end of the year 2021, is 2468 million euro.

In 2021 FDI from Cyprus to Bulgaria amounted to 28.6 million. euro, in the first quarter of 2022 the investment flow is 42.9 million euro.

 

3. Tourism

Year

Cypriot tourists in Bulgaria (border crossing)

%

Bulgarian tourists in Cyprus

%

2011

16 665

-7.2

12 896

-7.2

2012

15 212

-8.7

5 861

-54.6

2013

13 935

-8.4

10 084

72.1

2014

13 049

-6.4

5 524

-45.2

2015

14 166

8.6

6 485

17.4

2016

18 957

33.8

8 352

28.8

2017

22 346

+17.9

13 834

+65.6

2018

23199

+3.8

13722

-0.8

2019

26822

+15.6

12564

-8.4

2020

4542

-83.1

 

2021

6316

39,1

 

January-April 2022

3946

622,7

 

Source: Ministry of Tourism

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