site.btaAdded Value Generated by Industry Reaches EUR 23.3 Bln in 2024

Despite the current geopolitical and economic challenges, the added value generated by the industry reached EUR 23.3 billion in 2024, Deputy Minister of Economy and Industry Doncho Barbalov said on Wednesday during the opening of the 79th International Technical Fair in Plovdiv.

“Compared to many European countries, Bulgarian industry remains stable and has potential for high-tech development. Bulgarian industry is a key sector, accounting for a significant share of gross domestic product, with great potential in areas such as robotics, automation, and artificial intelligence,” Barbalov added.

He also announced that the development of a National Industrial Strategy with a horizon of action until 2030 is at an advanced stage. It is based on three priority areas: improving the regulatory environment, accelerating the dual transition - green and digital - and building a modern industrial infrastructure.

"In order to overcome the negative consequences of the crises in recent years, the Bulgarian Government has set even more ambitious goals and priorities aimed at accelerating the green transition, supporting industry in reducing its carbon footprint and implementing circular production models; widespread implementation of digital technologies, increasing productivity and competitiveness through the digitization of production processes; increasing energy efficiency, which is key to business sustainability and changing market conditions; Investing in human capital, supporting training and retraining of personnel with a professional future," commented the Deputy Minister. 

He added that over the years, the International Fair has proven to be a place for the exchange of ideas, business models, and technological solutions, which is leading to the development of entire sectors of the economy.

According to him, the focus on information and digital technologies, electronics, energy, construction, electromobility, transport equipment, mechanical engineering, as well as industries related to the development of the green economy, is in line with the priorities of the European Union. 

“These are the areas that will determine the competitiveness of our economy in the coming decades. They hold enormous potential for creating high added value, quality jobs, innovation, and sustainable exports, which are priorities for the Ministry of Economy and Industry,” said Barbalov.