The European Investment Bank (EIB) presented the results for Bulgaria from its annual EIBIS 2020 report on the corporate investments in the European countries. The data from EIBIS 2020 – Bulgaria Overview was presented at an online conference held on February 8, 2021.

 

The 2020 edition shows the effects of the COVID-19 crisis on companies’ investment plans and highlights how European firms are investing in digital technology, how businesses will handle climate change and the transition to a low-carbon future. The survey is based on 12 000 companies across the 27 Members States and covers four types of firms depending on their size (from micro to large enterprises) and four main economic sectors: manufacturing, construction, services and infrastructure. 

 

EIBIS 2020 – Bulgaria Overview, previous editions of the publication, as well as the analyzes by country and for the whole EU can be downloaded from the EIB’s website. Listed below are some of the main results for Bulgaria in terms of innovation activity and implementation of digital technologies.

The average share of investment in software, data, IT and websites was higher among service firms than manufacturing and construction firms (17% versus 3% and 5%, respectively). Overall, the share of investment in intangible assets (R&D, software, data, IT, website, training and organization) of Bulgarian firms (24%) was well below the EU average (36%). Investment in machinery and equipment retained the highest share of total investment (58%), well ahead of the EU average (49%).

In terms of innovation activity, 28% of the companies claim to have developed or introduced new products, processes or services in the last financial year. This is in line with EIBIS 2019 (25%) but remains well below the EU average (42%). Manufacturing firms are the most likely to innovate  – 35% overall, with 23% reporting the products, processes or services were new to the company and a further 12% new to the country or world. Large firms are more likely to report undertaking innovation than SMEs (35% versus 23%).

About 8% of firms in Bulgaria are classified as ‘active innovators’, and a further 7% of firms are ‘developers’. This breakdown is comparable to EIBIS 2019 with 10% of firms classifying as ‘active innovators’ plus 7% of firms as ‘developers’, but remains below the EU average with 20% ‘active innovators’ and 6% ‘developers’.

More than half of all firms (55%) have implemented, either fully or partially, at least one digital technology. This is in line with EIBIS 2019 (60%) but below the EU average (63%). Construction firms are less likely than firms in the other sectors to implement digital technologies. SMEs are less likely than large companies to implement digital technologies – 46% versus 67%. Adoption of the ‘3-D printing’ and ‘cognitive technologies’ by manufacturing sector firms is lower than the EU average  – 7% versus 27% and 16% versus 26%. Similarly, the adoption of ‘cognitive technologies’ by infrastructure firms is lower than the EU average  – 16% versus 27%.