Industry revenue of »engineering activities, related technical consultancy« in Bulgaria 2011-2023

Mirroring the trend of the neighbor country Romania, revenues of the Bulgarian engineering activities and related technical consultancy industry are projected to decline from 601 million U.S. dollars in 2016 to 572 million U.S. dollars by 2020. Some of the key reasons include a decline in building construction activities and civil engineering activities including construction of rail, road and utility projects. The short to medium term also does not augur well for the sector, as the outbreak of the corona virus is expected to cause severe disruptions in the market. The construction industry has already incurred a loss of 56 million U.S. dollars since the start of the pandemic and nearly 12 percent of the companies have suspended operations for an indefinite period of time, as per data from the Bulgarian Chamber of Commerce and Industry. Prime Minister Boyko Borissov has stated that the government will introduce a financial package worth 2.5 billion U.S. dollars to help mitigate the effects.