Industry revenue of »manufacture of tobacco products« in Bulgaria 2011-2023

Between 2011-2015, revenues of the Bulgarian tobacco products manufacturing industry witnessed a 40 percent growth, owing to a rapid rise in illegal cigarette manufacturing companies. Ever since, the government has taken robust measures to eliminate illegal producers and tackle the spread of illicit tobacco products. Additionally, the tariffs on cigarettes have also been hiked by as much as 40 percent. This has affected industry revenues to a certain extent, however, consumer demand still remains high and therefore revenues are projected to grow from 817 million U.S. dollars in 2016 to 908 million U.S. dollars by 2023.

Seventh leading cigarette producer in Europe

Bulgaria was the seventh largest cigarette producer in Europe in 2016, having produced over 21 billion cigarettes. The market has benefited from the presence of some of the largest tobacco companies in the world such as British American Tobacco, Philip Morris International, Japan Tobacco International and Imperial Tobacco to name a few.