The currency flow of Bulgaria grew in recent years, as the market size of coins and banknotes increased to roughly 19 percent of the country's GDP in 2021. This so-called CIC/GDP ratio roughly measures the use of cash money in the country. Due to the anonymity of cash transactions, sources struggle to find exact volumes on this. The ratio mentioned here is quite popular in that regard, as the data it needs is relatively easy to find. Some industry experts mention, however, that this ratio is too general and does not necessarily reflect retail payments.
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Share of currency in circulation (CIC) to the nominal GDP of Bulgaria from 2001 to 2023
Nominal GDP in current prices and national currency from the World Bank.
The CIC to GDP ratio roughly reflects the overall use of cash in a country. Note, however, that this is quite general (as it looks at the overall market for cash) and does not exclusively look at the component of consumers.
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Statista. (April 8, 2025). Share of currency in circulation (CIC) to the nominal GDP of Bulgaria from 2001 to 2023 [Graph]. In Statista. Retrieved July 08, 2025, from https://www.statista.com/statistics/1095878/cic-to-gdp-ratio-in-bulgaria/
Statista. "Share of currency in circulation (CIC) to the nominal GDP of Bulgaria from 2001 to 2023." Chart. April 8, 2025. Statista. Accessed July 08, 2025. https://www.statista.com/statistics/1095878/cic-to-gdp-ratio-in-bulgaria/
Statista. (2025). Share of currency in circulation (CIC) to the nominal GDP of Bulgaria from 2001 to 2023. Statista. Statista Inc.. Accessed: July 08, 2025. https://www.statista.com/statistics/1095878/cic-to-gdp-ratio-in-bulgaria/
Statista. "Share of Currency in Circulation (Cic) to The Nominal Gdp of Bulgaria from 2001 to 2023." Statista, Statista Inc., 8 Apr 2025, https://www.statista.com/statistics/1095878/cic-to-gdp-ratio-in-bulgaria/
Statista, Share of currency in circulation (CIC) to the nominal GDP of Bulgaria from 2001 to 2023 Statista, https://www.statista.com/statistics/1095878/cic-to-gdp-ratio-in-bulgaria/ (last visited July 08, 2025)
Share of currency in circulation (CIC) to the nominal GDP of Bulgaria from 2001 to 2023 [Graph], Statista, April 8, 2025. [Online]. Available: https://www.statista.com/statistics/1095878/cic-to-gdp-ratio-in-bulgaria/
