This monograph presents a comprehensive study of Bulgaria’s foreign trade, covering the period from the last socialist five-year plan, through the transition to a market economy, and the first two years of EU membership. The data and its analysis are unlikely to please many politicians. The author examines trade as an indicator of the potential of the industrial and agricultural sectors and, from this perspective, assesses the export potential of their production. The export structure is analyzed in terms of the share of goods with high, medium, and low value added. The study highlights the Bulgarian economy’s heavy dependence on imports of energy resources, raw materials, and other materials. Foreign trade is presented both in aggregate and by regional groupings and countries. Special attention is given to the free trade agreements concluded and their results. A major strength of the study is its emphasis on the political factor. The author’s analysis shows that the sixteen political-economic factors he identified were decisive for Bulgaria’s negative economic and social development during the period 1986–2008.