With Heureka to Bulgaria

Bulgaria joined NATO in 2004 and the EU in 2007 and while still fighting with high level of corruption the country is full of growth and investment opportunities attracting investors with a very low corporate income tax rate.

Wages are low compared to European standards, but the local labor force is well-educated, young and possesses good language skills. Bulgaria’s geographic location serving as a bridge between the East and the West on EU’s outer border makes the country an important EU partner.

million population

% population active on the internet

% VAT – tax burden

About Bulgaria

E-commerce share of retail
E-commerce in Bulgaria is estimated around 0,7 bil. EUR in 2019 thus representing 1,3% of total retail revenue. The expectations for annual growth (CAGR 2019-2024) are around 21% reaching 1,8 bil. EUR by 2024. The market's largest segment is Fashion with a market volume of 228,6 mil. EUR in 2019.
Accounting
The Bulgarian fiscal year starts on the 1st of January and ends on the 31st of December of the same year. Financial statements are based on liability accounts made up of constant capital and debts because there is a distinction between long and short-term debts. The profit and loss account gives priority to the repository of the global production and leaves the choice of cost classification either by nature or by function. Companies must publish their financial statements with appendix every year.
International accounting standards were introduced in Bulgaria at the beginning of 2003. They apply to banks, insurance companies, welfare and investments companies and unidentified companies. Today, Bulgarian accounting standards are in accord with the International Accounting Standards Board.
Find out more about Taxes and Accounting in Bulgaria on GlobalTrade.net, the Directory for International Trade Service Providers.
Taxation in Bulgaria
The basic VAT (in Bulgarian: данък върху добавената стойност) is 20%, reduced 9% on tourist services. Export and transactions are free of VAT due to international agreements. Other excise duties: alcohol (not including wine), tobacco and cigarettes, gambling, petrol, natural gas and electricity (0% for electricity for households).
Certification and Auditing
Audits must be carried out by certified experts.
Local financial institutions and organizations:
Source: NordeaTrade.com

internet market overview

There are some 772 000 Bulgarian online retailers - a number that continues to grow. 60% of online purchases come from international sources. 41% of the sellers are from the EU, 19% from the rest of the world. 81% of online shoppers in Bulgaria shop via their desktop, 5% via smartphone and 3% via tablet. There are currently 2,58 mil. e‑shop customers in Bulgaria, with additional 860 000 users expected to be shopping online by 2021. 4 years from now, these 3,44 million Bulgarian e-commerce customers will spend an average of 203 EUR online. Nowadays they spend €149,19.

1,5

million people shopping online

% e-commerce growth rate

1,3

% online share of retail

The strongest players in e-commerce

The biggest local e‑shops are eMAG, FashionDays, OLX, Helikon, Technopolis and Technomarket.

Growth of e-commerce

Bulgarian e-commerce grows annually by 20-30% according to official data from the end of 2018. Compared to 2017, the growth in 2018 reached 30%. In 2017, the e-commerce volumes were 511 mil. EUR registering a growth of 22% compared to 2016.

Popular payment types

Payment on delivery is by far the most popular payment choice.

E-commerce revenue

E-commerce revenue in Bulgaria is currently estimated around 0,7 bil. EUR expecting an annual growth rate (CAGR 2019-2024) of 21 % reaching 1,8 bil. EUR by 2024 thus growing by approx. 220 mil. EUR a year.

Internet penetration

Bulgaria had at least 4 663 065 Internet users in Dec, 2018 with a 66,7% penetration (InternetWorldStats.com).

Favorite shopping categories

I want to expand

our platform pazaruvaj.com

Pazaruvaj.com is one of the most visited price comparison sites in Bulgaria with more than 500 online stores and 2 200 000 newly listed products.

The mission of our company is to make products and prices easily and quickly comparable allowing customers to choose the best offer based on their criteria. We also aim to popularize economical and environment-friendly online shopping by creating positive shopping experiences.

million users per month

hundred e‑shops on the platform

14,4

% platform growth rate

how to get listed on Pazaruvaj.com

Translate your e‑shop to Bulgarian language

The main condition is to have a shop in the Bulgarian language.

Register on our platform

You can register on our registration page (in Bulgarian) or contact us and we will process the registration for you. Prepare your XML feed as required in the XML feed specification.

Let us help you to use the maximum of our platform

We highly recommend Verified by Customers certificate, especially for the new shops entering the market. It is important to show that you are a trustworthy shop. Do you want to maximize your sales? Join our bidding and marketplace.

We can also offer custom data reports of the categories you are interested in. Just contact us below.

need a hand? contact us

Samira Berecz

0036 1 782 2891

berecz.samira@arukereso.hu