Bulgaria's trade deficit in December 2025 increased by 78.4% to EUR 1.290 billion, compared to a deficit of EUR 723.3 million a year earlier. This is shown by preliminary data from the Bulgarian National Bank (BNB). Last year, the trade deficit reached EUR 9.479 billion, compared to a deficit of EUR 5.053 billion in 2024, which is an increase of nearly 87.6%. Exports of Bulgarian goods in December 2025 amounted to EUR 3.458 billion, increasing by EUR 135.4 million (4.1%) per year. Last year, exports amounted to EUR 42.347 billion, decreasing by EUR 1.395 billion (3.2%) on an annual basis. For comparison, exports in 2024 increased by 0.5% per year. Imports of goods for December are 4.749 billion euros, with an annual growth of 702.9 million euros (17.4%). For 2025, it is over 51.827 billion euros and increases by 3.030 billion euros (6.2%) in one year. Imports for January - December 2024 increase on an annual basis by 2.8%. The balance on services is in the positive by 405 million euros with a positive balance of 661.8 million euros for December 2024. Last year, it was in positive territory with 7.824 billion euros with a positive balance of 8.157 billion euros in the period from January to December 2024. The current and capital account is positive and amounts to 197.3 million euros with a deficit of 271.6 million euros for December 2024. Last year, it was in the negative by 4.044 billion euros, while a year earlier it was in positive territory with 396.6 million euros. In December, the current account balance was in the red by 1.409 billion euros with a negative balance of 607.6 million euros for December 2024. Last year, the current account was in the red by 6.874 billion euros with a negative balance of 1.416 billion euros for the period from January to December 2024. The capital account was positive and amounted to 1.606 billion euros with a surplus of 336 million euros for December 2024. Last year, it was in the red by 2.830 billion euros, with a surplus of 1.812 billion euros for January - December 2024. The financial account for December 2025 was in the red by 368.6 million euros with a positive value of 419.9 million euros for December 2024. From January to December 2025, it was in the red by EUR 6.012 billion, with a negative value of EUR 639.4 million for the same period in 2024.

Foreign direct investment (FDI) in Bulgaria grew by 14.2 percent year-on-year, reaching EUR 3.261 billion by the end of December 2025, according to preliminary data from the Bulgarian National Bank (BNB). The result is EUR 405 million higher than in 2024, when the net flow amounted to EUR 2.856 billion. Investments last year amounted to 2.8 percent of the country's estimated gross domestic product (GDP). The most significant capital inflows in 2025 came from the Netherlands (EUR 635.9 million), followed by Greece (EUR 476.9 million) and Italy (EUR 315.5 million). At the other extreme are net outflows to Malta (EUR 257.3 million) and the USA (EUR 216.5 million). In real estate investments by foreigners, the net flow remains negative at EUR 19.7 million, with the largest withdrawal reported by Russian individuals (EUR 21.1 million). The main factor for the positive result is the reinvested profit of foreign companies in our country. This amount amounts to EUR 3.694 billion, which is a significant increase compared to EUR 2.744 billion in 2024. Equity capital also grew, reaching EUR 119.7 million. At the same time, the net flow of debt instruments (intra-company loans) is negative and amounts to EUR 552.6 million. Bulgarian investments abroad for 2025 amount to EUR 377.4 million (0.3 percent of GDP), which is almost half the level of the previous year (EUR 633.4 million). The data are preliminary and subject to revision.

A serious recovery of the commercial real estate market in Bulgaria in 2025, supported mainly by local capital, with increased interest in office space, which reached its highest volume of transactions in the last 10 years - this is shown by the analysis of "Cushman & Wakefield | Forton". A total of 26 commercial buildings changed ownership last year, with the volume of transactions reaching 391 million euros. In addition, there is an increase in rents, significant activity and a decrease in vacant space - this is the strongest market for offices, retail space and industrial sites since 2018. The most transactions were made in offices with 10 purchases and sales of sites. There were 5 transactions each in business parks and hotels, and 6 - in industrial and logistics sites. One of the emblematic deals for 2025 is the sale of Bulgaria Office Center on Bulgaria Blvd. with an area of ​​5,500 sq m, which was purchased by Borika AD for 11.5 million euros. Among the largest is the purchase of the Oscar business center (7,000 sq m) on Vasil Levski Blvd. next to the National Palace of Culture by Postbank for 39 million euros. Rental activity on the office market in Sofia is characterized by 10.5% growth on an annual basis. The total volume of concluded contracts amounts to 204,000 sq m compared to 185,000 sq m in 2024. The share of unoccupied areas falls to 12.3% on an annual basis, and rents have increased by 5.3%. During the year, signed expansion contracts increased by over 8,700 sq m, relocations by over 2,100 sq m, and renewals by 8,400 sq m. The completed projects in 2025 total six with a total area of ​​26,300 sq m, and those under construction are 24 with a total of 241,100 sq m of developed built-up area. Thanks to the recently completed projects, the total volume of offices in the capital currently amounts to 2,332,000 sq m. Of these, first-class offices (class A) are 68%, and the rest are lower class. Rental activity on the market for production and warehouse space in Sofia falls by 18.6% to a total of 91,000 sq m on an annual basis as a result of the shortage of vacant space. Only 0.7 percent of these properties are unoccupied, which is 15,800 sq m. Rental levels reach 5.6 EUR/sq m, which is a growth of 3.7 percent on an annual basis. Just over 71% of the spaces are rented by commercial companies, and over a fifth (21%) by transport and logistics companies. The projects under construction have a total area of ​​231,000 sq m, half of which is intended for rental. This volume is expected to be completed in 2026. By the end of 2025, the total volume of production and warehouse space around Sofia amounted to 2,344,000 sq m, of which only 800,000 sq m, which is just over a third, is intended for rental. The remaining two-thirds are for own use. The area of ​​newly opened retail outlets in the country increased by 29% year-on-year in 2025. Last year, 297 new stores were opened with a total area of ​​161,000 sq m. Of these, 73% are in retail parks, and the rest in malls. The total volume of retail space increases to 1.51 million sq m. Over half of this volume (54%) is located in 26 malls, and the remaining is distributed in 67 retail parks. Thus, the saturation of retail space in our country rises to 234 sq m per 1,000 people. The construction of new projects is dynamic. Currently, 14 retail parks are being built in 11 cities with a total retail area of ​​140,000 sq m. The construction of another 12 retail parks and 1 mall with a total area of ​​211,000 sq m is planned. The free retail space in both malls and retail parks is small and this applies to the entire country. For the year, the share of unoccupied spaces falls to about 3%. Rents for the most attractive areas in malls in Sofia slightly increased to 47 euros/sq m last year, which is a growth of 9.3 percent. Rental levels in retail parks remain unchanged - 13 euros/sq m. The profitability of prime areas in both types of sites is also unchanged - 7.5 percent in malls and 7.25 percent in retail parks, respectively.

According to rough estimates, the entire FMCG market in Bulgaria is worth about 11-12 billion euros, and has been growing steadily in recent years due to the increasing purchasing power of the people in the country. The leading 10 players generate a consolidated net turnover from the sale of goods of nearly 5 billion euros. Lidl consolidated its leadership in the market in the past 2025. In 2025, Lidl also consolidated itself as a leader in the largest cities and markets in the country: Sofia, Plovdiv, Varna. Otherwise, the leading three in the retail trade of FMCG and mainly food consists of Lidl, Kaufland and Billa and has not changed in the last few years. The online retailer eBag has experienced dynamic development in recent years, and in 2025 it is most likely already part of the leading ten in terms of turnover in the country with nearly 50% annual revenue growth. Another rapidly developing chain is Minimart, which ended 2025 with 302 stores in the country, or nearly 150 more than the previous year.

Kaufland Bulgaria sells over 1 million packages of spinach annually from the Plovdiv farm "Trakia Agricola Group", with which it has been partnering for six years. Of particular interest among customers is the farm's spinach under the retailer's own brand "Bray", which meets the international standards for good agricultural practice Global G.A.P., guaranteeing traceability and quality control at every stage. The growth in demand for spinach is not an isolated case. According to data from the international market research consulting company IMARC Group, the global spinach market is expected to grow from 33.85 million tons in 2023 to 46.94 million tons by 2032, which indicates a stable global trend towards increased consumption of green leafy vegetables.

A production and warehouse facility in Parvomay, owned by the joint-stock company "Nikolov and Sons", has been announced for public sale by a private bailiff. The facility is located in the town of Parvomay on "Buzludzha" Street and represents a land plot with an area of ​​9650 sq. m together with several massive buildings with different purposes. Among them are production halls and warehouses with built-up areas of approximately 720 sq. m, 1066 sq. m, 1349.81 sq. m and other buildings, including a building of approximately 600 sq. m. The property also includes the relevant ideal parts of the building right and adjacent infrastructure. The production is related to the coating of elastic threads, coating of rubber threads, texturing of polyamide and polyester silk, as well as mixing yarns. The company has produced the threads for the socks of numerous football teams in England. The owner of the property is the company "Nikolov and Sons" AD, registered in 2007 with headquarters in Parvomay and subject of activity commercial, production and transport activities, as well as all services permitted by law. The company is a joint-stock company with registered capital of 25,565 leva and is represented by Nikolay Nikolov, who is also the actual owner. The company reported a turnover of over 4.8 million leva for 2020 and has maintained dozens of employees in recent years, and the company has exported production to many countries. trafficnews.bg

The company "General Foods" Ltd., owned by Dialios Petros, has announced its plans for a significant investment in Sandanski, related to the production of imitation dairy products, the Regional Inspectorate for Environment, Water and Water-Blagoevgrad reports. The company has presented a project for the renovation of the existing pasta workshop, located in the picturesque Boruna area on a plot of land with an area of ​​4,663 sq. m. The plan includes the construction of two annexes to the current industrial building, with a total area of ​​800 sq. m., which will contain storage facilities for raw materials (vegetable fats and salt), work rooms for thermal treatment and cold rooms for ripening products. The production capacity is impressive, with daily production reaching up to 4,000 kg of cheese and up to 5,600 kg of yellow cheese. The finished products will be offered in plastic buckets with a volume of 1 to 16 kg for cheese and in bags weighing up to 5 kg for yellow cheese. The only thing that follows is an assessment of the need for a full environmental impact assessment (EIA).

The online gambling company, which operates under the Palms Bet brand – “Telematic Interactive Bulgaria” AD, plans to distribute a dividend from the company’s accumulated profit. The decision on this will be made by the extraordinary general meeting of shareholders, which will be held on March 27 in Sofia. The company ended 2025 with a net profit of 15.21 million leva, according to data in the fourth quarter report. At the end of December, its retained earnings amounted to 4.58 million leva. Over the past twelve months, the company has paid dividends to its shareholders four times.

As of December 2025, there continue to be several countries in the world that hold large portfolios of U.S. debt securities. Japan continues to lead the list of countries holding the largest amounts of US debt, as their size fell to $1.19 trillion in December, from $1.2 trillion in November last year. In second place is Great Britain, which holds US debt worth $866 billion (down from $889 billion according to the numbers). The country with the second largest economy in the world, China, is in third place, as it also slightly reduced its holdings of US debt bonds, to $683.5 billion from $683.9 billion the previous month. Russia also continues to hold US government securities, albeit in symbolic amounts. They amounted to just $29 million as of December 2025, the same amount as the previous month, according to data from the US Treasury Department.

China’s economy has weathered many shocks, supported by robust exports and fiscal stimulus, and remains a major driver of global growth. The country’s GDP grew by 5% last year and is forecast to grow by 4.5% this year. Despite this resilience, the growth model of the world’s second-largest economy faces growing challenges: weak domestic consumption and a slowing global economy. Domestic demand is stifling, in part because a prolonged housing slump, combined with a weak social safety net, is hurting consumers’ willingness to spend. That is fueling deflationary pressures and making growth increasingly dependent on overseas consumption. These are the main conclusions of the International Monetary Fund’s (IMF) 2025 Annual Review of China’s Economy, published on February 18. Managing Director Kristalina Georgieva said she had urged Chinese policymakers to make the “bold choice” to accelerate structural reforms and reduce the $19 trillion economy’s reliance on exports. The IMF has urged China to reduce state support for industry as international concerns about its overcapacity grow. Experts at the international lender have estimated that Beijing spends about 4% of GDP on subsidizing companies in critical sectors and have recommended that this share be halved, to 2%, over the medium term. The recommendations in an IMF report come as Beijing has increased exports of manufactured goods, including higher-value ones such as electric vehicles, sparking tensions with the West over its subsidies. The country’s global goods trade surplus topped $1 trillion last year. The IMF welcomed Beijing’s move to reduce “involution,” a term China uses to describe excessive price competition, but said it needed to further “clarify its strategy.” China’s policymakers are grappling with challenges including the threat of deflation, weak consumer confidence, high youth unemployment and a persistent property market slowdown that shows little sign of easing. In 2024, the IMF called on Beijing to spend 5.5 percent of GDP over four years to tackle the problem by completing unfinished housing and supporting the exit of unviable developers from the sector. In a report published on February 18, the lender’s experts called for 5 percent of GDP over three years from the central government. The fund recommended that Chinese authorities loosen restrictions on internal migrants’ access to social benefits, move to a more progressive taxation system and increase pensions.