According to the preliminary data released by the Bulgarian Association of Metallurgical Industry, in 2008 the country registered a 40 percent decrease year on year in its steel products output to 1.329 million mt. Meanwhile, despite the economical crisis, Bulgaria's output of long rolled sections actually doubled in 2008 to 905,000 mt from 400,000 mt in 2007.
In 2008, Bulgaria decreased its steel products exports by around 50 percent, and expects a decline of about 30 percent year on year in its total steel production revenue, due to the drop of prices in steel markets.
According to Bulgarian Association of Metallurgical Industry, the significant decrease in Bulgaria's 2008 steel output, mainly dues to the bankruptcy of the country's largest steelmaker Kremikovtzi, as well as to the effects of the global financial crisis.