BULGARIAN FOOD INDUSTRY GROWTH AND TRADE WITH BRIC COUNTRIES

Abstract

The Food and Beverage Industry is an attractive and a leading sector in Bulgarian industry. The Bulgarian Food and Beverage Industry (BFBI) has traditionally been an export-oriented. The biggest importer of food and beverages in Bulgaria is Brazil, followed by Russia, China and India. Continual increase of trade relations importance with BRIC countries, especially in food and beverages, has significant impact on the sectors dynamics. The paper aims to analyze the industrial dynamics of the Food and Beverage Industry in Bulgaria and the role of trade relations with BRIC countries, namely Brazil, Russia, India and China, on it. Bulgarians’ trade balance with these countries is negative. To overcome these negative trends for the sector it is necessary to increase the competitiveness production, and to rely on quality and standardized production, for development of new market niches.