MACROECONOMIC PROFILE

Economic activity

Ruse Municipality is the main engine for economic processes and a centre for economic growth in the region. 

According to the Institute for Market Economics , Ruse Municipality can be defined as an economic core, a driver of the local economy, attracting workers from the surrounding municipalities and dominating as a regional leader in employment and production. Together with the municipalities of Vetovo, Dve Mogili, Ivanovo and Slivo pole, Ruse Municipality is designated as economic centre “Ruse”. 90% of the population and 94% of those employed in the Region live in the economic centre. Ruse Municipality attracts 41% of the employees in Ivanovo Municipality, 28% of the employees in Slivo Pole Municipality and 13% of those in Vetovo and Dve Mogili. 

Ruse District generates more than 2.5% of the country's GDP. The service sector holds a leading position in the formation of GVA in the District, generating over 59% of GVA, followed by the industrial (32%) and agricultural sectors (over 8%).

¹Institute for Market Economics. The Economic Centres of Bulgaria. Sofia 2017.

 

GDP and GVA by economic sectors in Ruse District

Source: National Statistical Institute – Territorial Bureau of Statistics – Ruse

The GDP per capita in Ruse District is significantly higher than the average for the North Central Planning Region and places the Region at 8th place in Bulgaria.

 

Economic activity indicators in Ruse District

Source: National Statistical Institute

 

Employment share and production share by type of enterprises on the territory of Ruse District

 

Production of non-financial enterprises in Ruse Municipality /thousand BGN/

Source: National Statistical Institute

There is a predominance of small and medium-sized companies on the territory of Ruse Municipality, which provide a significant share of employment. More than 90% of all non-financial enterprises in Ruse District are micro-enterprises (with up to 9 employees), and 84% of them are located in Ruse Municipality. On the other hand, medium-sized enterprises, each of which provides an average employment of 106 people, contribute with largest volume of production for the development of the regional economy.

In 2018, Ruse is ranked 4th in a prestigious ranking of fDi Magazine, a publication of the Financial Times, for small European cities of the future in terms of cost effectiveness. The wider Ruse region is placed even further in the same ranking - second place as the most promising small region in Europe, thus overtaking metropolitan areas like Sofia and Skopje. The evaluation is done for nearly 500 locations throughout Europe, which are ranked in 6 categories.

 

²fDi Magazine. fDi European Cities and Regions of the Future 2018/2019. February/March 2018. www.fDiIntelligence.com

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