Domestic Products Generate 50-75% of Turnover of Retail Chains in Bulgaria

      Published on Wednesday, 18 February , 2015      420 Views     

Domestic Products Generate50-75% of the turnover of big retail chains in Bulgaria is generated by Bulgarian products, according to the Association for Modern Trade (AMT).

The turnover generated by Bulgarian products is provisionally estimated at around BGN 5 B a year, according to reports of the AMT, an NGO including retail chains operating in the country.

According to AMT data, as cited by the Bulgarian National Radio, 70-90% of the payments of retail chains go to Bulgarian producers selling their production via hypermarkets.

Dairy products and meat products account for the major share of domestic goods but locally produced fruit and vegetables are also increasingly gaining ground.

According to a representative of one of the retail chains, the good results have been achieved thanks to a program for cooperation with Bulgarian producers, which has been underway for a fifth year.

Representatives of retail chains functioning in Bulgaria say that they have also helped over 20 local companies export their output to foreign markets.

According to Nikolay Petrov from the AMT, the informal economy remains a major concern.

In Petrov’s words, illegally functioning companies do not undergo inspections and they enjoy 30% price advantage over legal businesses, including 20% from unpaid VAT and up to 10% from unpaid social security contributions and other taxes.

According to AMT data, Bulgarian producers have been recovering lost positions in foreign markets.

Category Bulgaria Business | 2015/02/18 latest update at 12:00 PM
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