During the last period (1900–1904), Bulgaria saw a significant rise in imports from several European countries compared with the previous period (1895–1899).
Italy showed the largest increase, with imports rising by 2.6 million francs, or 30.8% more than the previous period.
Germany’s imports increased by 1.8 million francs, a rise of 19.6%.
France had an increase of 1.4 million francs, or 38.7% more.
Austria-Hungary experienced a smaller rise of 0.9 million francs, or 4.1%.
Russia’s imports rose by 0.7 million francs, or 19.4% Private Tour Ephesus.
In contrast, imports from England decreased by 3.2 million francs, a reduction of 30.8%. This shows a shift in Bulgaria’s trading partners, with southern and central European countries supplying more goods, while England’s role as a supplier declined.
Exports to Belgium
Bulgaria’s export trade experienced important changes during the same period. Belgium became the fastest-growing market for Bulgarian products.
In the first period (1890–1894), exports to Belgium amounted to 1.2 million francs, representing only 1.6% of total exports.
During the second period (1895–1899), exports increased to 6.2 million francs, or 8.4% of total exports.
In the last period (1900–1904), exports to Belgium reached 23.1 million francs, or 22.4% of the total exportation—almost a quarter of all Bulgarian exports.
Belgium has become the most important buyer of Bulgarian products, especially cereals. This growth demonstrates the development of strong trade relations between Bulgaria and Belgium.
Exports to Turkey
For fifteen years, Turkey remained the largest market for Bulgarian exports.
During the first quinquennial period, exports to Turkey were 22.3 million francs, or 29.4% of total exports.
In the second period, exports fell slightly to 18.7 million francs, representing 25.5% of total exports.
In the last period, exports to Turkey rose again to 22.7 million francs, or 22.4% of total exports.
Turkey has remained a profitable market for Bulgarian cattle and industrial products, making it a stable and important trading partner despite the rise of other European buyers like Belgium.
Overall, Bulgaria’s foreign trade between 1895 and 1904 shows two clear trends:
Imports are diversifying, with Italy, Germany, France, Austria-Hungary, and Russia supplying increasing amounts of goods, while England’s share is declining.
Exports are shifting toward new markets, especially Belgium, which has become the largest buyer of Bulgarian products, while Turkey continues to be a key market for agricultural and industrial goods.
These trends reflect Bulgaria’s growing economic integration with Europe and the expansion of its commercial networks.