Economy of Plovdiv
From Wikipedia, the free encyclopedia
The city of Plovdiv is the second only to Bulgaria's capital Sofia in economic importance and output. It is a major industrial, commercial, financial and shopping centre.
Recently, Plovdiv has one of the country's fastest growing economies with average GDP growth of 12-13%. As of 2005 the total revenues are 9.4 billion leva (approximately 4.8 billion euro), which is with 88% more than in 2001. The profits for the same period rose 4.5 times.[1] The unemployment is 6,5%[2] which is lower than the national average. One of recent problems are municipality's administrative borders which almost completely coincide with the city limits. Due to the constant increase of investments which are $465,000,000 for 2005 some of the businesses have to be redirected to the Maritsa or Rodopi municipalities such as the industrial zone of Radinovo village.[1]
Located in the middle of a rich agricultural region, since the beginning of the 20th Plovdiv grew as a major industrial center. Food processing, tobacco, brewing and textiles were the main pillars of the industry.[3] During socialism the city's economy greatly expanded dominated by heavy industry - it still produces large amount of lead and zinc, machinery, electronics, motor trucks, chemicals, cosmetics. Between 1966 and 1969 in Plovdiv was assembled the sports car Bulgaralpine as a result of the cooperation of Alpine and ETO Bullet. In 1967 a car-assembly factory which produced Bulgarrenault under the license of the French automotive manufacturer Renault was inaugurated but production was halted in early 1970. After the fall of Communism in 1989 and the collapse of Bulgaria's planned economy, a number of industrial complexes were closed.
