In the last 10 to 12 years, household incomes have increased steadily in nominal terms, shows a review by the National Statistics Institute, entitled "Statistical Panorama: Bulgaria 2007".

In 1999-2007 alone, the average income per household member more than doubled from 1,502 to 3,105 leva. Over that period, the real incomes of households increased 24.3 per cent, for the first time in 2007 exceeding the level of 1995 and marking a real increase of 2 per cent.

In 1999-2007 household expenses followed the trend of dynamic change of incomes. After 1999, a process of gradual decrease of the share of food expenses began, reaching 37.5 per cent in 2007.

Inflation in 2007 (December 2007 from December 2006), measured by the consumer price index, was 12.5 per cent, which is the largest annual inflation in the last ten years. In 2007, the largest increase was registered in food prices (20.8 per cent up). The largest monthly increase of consumer prices occurred in August, at 3.1 per cent. Deflation was registered in June, at -0.4 per cent, and in March, at -0.1 per cent.

According to preliminary information, the gross domestic product (GDP) in 2007, calculated on the basis of current prices, was 56,520 million leva. The current volume exceeded the GDP produced in 2006 by 7,159 million leva. Calculated on the basis of comparable prices, the GDP was 52,405 million leva, 6.2 per cent up from 2006. In the period from 1995, this was the tenth year with a positive GDP change. In 2002, the GDP exceeded the 1995 level for the first time. The increase was 3.9 per cent. In 2006 and 2007, the increase was 30.4 per cent and 38.6 per cent, respectively.

According to preliminary data, in 2007 one person employed in the national economy produced an average of 15,218 leva of GDP according to current prices. Compared to 2006, this implies a 3.3 per cent increase of productivity. The average annual values in 2003-2007 show a predominant influence of the intensive factors of economic growth: 49.2 per cent of increased productivity and 2.3 per cent of improved utilization of the working hours by one employed person.

Foreign trade in January-December 2007, according to preliminary information, amounted to 69,100 million leva, and the trend of annual increase was preserved. Compared to 2006, the increase was 15.9 per cent. However, there was a foreign trade deficit of 16,400 million leva (exports FOB - imports CIF).

Tourism shows stable development over the last few years. One characteristic is the increase in the number of visits of foreigners to Bulgaria. In 2007, the number of foreigners' visits reached 7,725,700, which is 3 per cent up from 2006. Foreigners' visits for the purpose of leisure trips and recreation totaled 4,218,700, and for the purpose of visiting with friends, 75,100. In 2007, a total of 3,300 state-run and privately-run accommodation facilities were functioning in Bulgaria - hotels, motels, huts and camping sites, among others, 14.4 per cent more than in 2006.

Source: National Statistics Institute; BTA