Interwar Bulgaria was highly backwards from an economic standpoint.
Heavy industry was almost nonexistent due to a lack of major natural resources, and whatever manufacturing did exist consisted almost exclusively of textiles and handicrafts.
Even these required extensive tariff protection to survive.
Some natural resources did exist, but bad internal communications made it impossible to exploit them and nearly all important manufactured implements were imported.
Farm machinery and chemical fertilizers were nearly unheard of.
Agricultural products were almost the only thing Bulgaria could export and after 1929 it became very hard to do this.

Bulgarian agriculture was almost entirely one of small farmers and peasants.
Plots were small and almost exclusively under 20 hectares (50 acres), but they were working intensively and even the tiniest 2-hectare (5-acre) farms often produced crops for market sale.
As elsewhere in Eastern Europe, Bulgarian peasants traditionally grew grains for their landowners which after the war could not be effectively marketed due to competition from the United States and Western Europe.
However, they were able to switch with little difficulty to garden crops and tobacco in contrast to other countries where the peasantry suffered harder due to continued reliance on corn and wheat.

While more successful than the rest of Eastern Europe, Bulgarian agriculture still suffered from the handicaps of backwards technology and especially rural overpopulation and scattered plots (due to the traditional practice of a peasant dividing his land equally among all surviving sons).
And all agricultural exports were harmed by the onset of the Great Depression.
On the other hand, an underdeveloped economy meant that Bulgaria had little trouble with debt and inflation.
Just under half of industry was owned by foreign companies in contrast to the nearly 80% of Romanian industry.
Interwar Bulgaria was highly backwards from an economic standpoint. Heavy industry was almost nonexistent due to a lack of major natural resources, and whatever manufacturing did exist consisted almost exclusively of textiles and handicrafts. Even these required extensive tariff protection to survive. Some natural resources did exist, but bad internal communications made it impossible to exploit them and nearly all important manufactured implements were imported. Farm machinery and chemical fertilizers were nearly unheard of. Agricultural products were almost the only thing Bulgaria could export and after 1929 it became very hard to do this.
Bulgarian agriculture was almost entirely one of small farmers and peasants. Plots were small and almost exclusively under 20 hectares (50 acres), but they were working intensively and even the tiniest 2-hectare (5-acre) farms often produced crops for market sale. As elsewhere in Eastern Europe, Bulgarian peasants traditionally grew grains for their landowners which after the war could not be effectively marketed due to competition from the United States and Western Europe. However, they were able to switch with little difficulty to garden crops and tobacco in contrast to other countries where the peasantry suffered harder due to continued reliance on corn and wheat.
While more successful than the rest of Eastern Europe, Bulgarian agriculture still suffered from the handicaps of backwards technology and especially rural overpopulation and scattered plots (due to the traditional practice of a peasant dividing his land equally among all surviving sons). And all agricultural exports were harmed by the onset of the Great Depression. On the other hand, an underdeveloped economy meant that Bulgaria had little trouble with debt and inflation. Just under half of industry was owned by foreign companies in contrast to the nearly 80% of Romanian industry.
Kingdom of Bulgaria