Dynamics of Food Production Before and After the Economic Crisis

Abstract

Historically, food industry is one of the oldest industries in Bulgaria, with more than 150 years of development. In recent years it is one of the industries that has decreased its share very fast. It is interesting to investigate the size and scope of its decline and to identify the main reasons for Bulgarian food producers to register loss of their traditional markets (local and European ones). The paper explores the changes of food processing in the last five years. The structure of the paper covers the following basic points: the first section is Introduction. It gives a brief summary of the current state of food industry in Bulgaria. A brief theoretical background is given in the next section. It summarizes the evolution of industrial dynamics in economic theory.   A detailed methodological approach is presented in third paragraph. Results from data analysis are given in the fourth section. It is based on a statistical analysis of enterprise data. A key issue of this analysis is a comparative analysis of the dynamic functions of Bulgarian food production before and after the 2008 crisis arose. Finally, the outcomes and conclusions are summarized.