Bulgaria's exports climbed 10.7 per cent in 2017, but trade balance negative

Bulgaria's exports climbed 10.7 per cent in 2017, but trade balance negative
Bulgaria exported goods worth more than 52.2 billion leva in 2017, an increase of 10.7 per cent compared with 2016, the National Statistical Institute (NSI) said on February 9, citing preliminary figures.

However, the total foreign trade balance in 2017 was negative, adding up to more than six billion leva, the NSI said.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) in 2017 the total foreign trade balance was also negative and added up to more than three billion leva.

The NSI also reported preliminary data on trade in 2017 with third countries - meaning, those that are not members of the European Union - on February 9, noting that exports to these countries were 10.7 per cent higher in 2017 than in 2016.

In 2017, Bulgarian exports to third countries added up to 17 744.6 million leva.

Among non-EU countries, Bulgaria's main trading partners were Turkey, Russia, China, Serbia, the former Yugoslav Republic of Macedonia and Egypt, which accounted for 51.6 per cent of exports to countries in this category.

Bulgaria's exports to third countries in 2017, distributed according to the Standard International Trade Classification, saw the largest growths compared to 2016 in the sections "Manufactured goods classified chiefly by material" (42.1 per cent) and "Miscellaneous manufactured articles" (23.2 per cent).

The most notable falls, compared with 2016, were reported in the sections "Food and live animals" (16.7 per cent) and "Beverages and tobacco" (11.9 per cent).

Bulgarian imports from third countries in 2017 increased by 24.1 per cent in comparison with the previous year and added up to 21 368.3 million leva (at CIF prices).

The largest amounts were reported for goods imported from Russia, Turkey, China and Serbia.

In 2017 in the imports of Bulgaria from third countries distributed according to the Standard International Trade Classification the largest growths compared to 2016 were recorded in the sections "Crude materials, inedible (except fuel)" (42.3 per cent) and "Animals and vegetable oils, fats and waxes" (40.1 per cent).

The foreign trade balance of Bulgaria (export FOB - import CIF) with third countries in 2017 was negative and added up to 3 623.7 nillion leva.

The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to 2 115.6 million leva, the NSI said./IBNA

(Photo: Julien Hoste/freeimages.com)

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