Bulgaria increased exports to non-EU countries in January-February 2016

Bulgaria increased exports to non-EU countries in January-February 2016

Sofia, April 11, 2016/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Bulgaria’s exports to third countries – meaning those that are not members of the European Union – were 0.3 per cent higher in January – February 2016 than in the first two months of 2015, adding up to 2.36 billion leva, the National Statistical Institute (NSI) said on April 11, citing preliminary figures.

Among non-EU countries, Bulgaria’s main trading partners were Turkey, China, FYROM, Serbia, the United States and Russia, which accounted for 49.5 per cent of exports to third countries, the NSI said.

However, in February 2016 Bulgarian exports to third countries decreased by 4.9 per cent compared to the corresponding month of the previous year and amounted to 1.195 billion leva.

In the period January – February 2016 the value of all exported goods from Bulgaria amounted to 6.9 billion leva and in comparison with the corresponding period of 2015, exports were up by 1.4 per cent. In February 2016, Bulgaria’s total exports added up to 3.483 billion leva or 1.7 per cent more than in February 2015.

The total value of all the goods imported into Bulgaria in January – February 2016 was 7.3 billion leva (at CIF prices), or 7.7 per cent less than January – February 2015.

Bulgarian imports from third countries in January – February 2016 decreased by 17.7 per cent in comparison with the same period of 2015 and added up to 2.427 billion leva (at CIF prices). The largest amounts were reported for goods imported from the Russian Federation, Turkey, China and Ukraine. In February 2016, Bulgarian imports from third countries decreased by 17.7 per cent compared to the corresponding month of the previous year and amounted to 1.223 billion leva.

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries in the period January – February 2016 was negative and amounted to 66.9 million leva, the NSI said. The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was positive and added up to 96.5 million leva.

In February 2016 the foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and amounted to 27.8 million leva, according to the NSI.

Reporting preliminary data for Bulgaria’s trade with other EU countries in January 2016, the NSO said Bulgarian exports to the EU decreased by 1.4 per cent compared to the same month of 2015 and amounted to 2 262.7 million leva.

Among other EU countries, the main trading partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 67 per cent of exports to the EU member states.

Bulgarian imports from the EU in January 2016 decreased by 2.1 per cent compared to the same month of 2015 and added up to 2 263.0 million leva at CIF prices, the NSI said.

The largest amounts were reported for the goods imported from Germany, Italy, Romania, Spain and Greece (Annex, Table 3)

The foreign trade balance of Bulgaria (export FOB – import CIF) with the EU in January 2016 was negative and added up to 0.3 million leva. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was positive and amounted to 162 million leva, the NSI said.