Bulgaria reports drop in exports, negative trade balance, in January – May 2016

Bulgaria reports drop in exports, negative trade balance, in January – May 2016

Sofia, July 11, 2016/ Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Bulgaria’s exports to European Union and non-EU countries in January to May 2016 were 3.5 per cent less than in January to May 2015, the National Statistical Institute (NSI) said on July 11, citing preliminary figures.

In the period January – May 2016 the value of all exported goods from Bulgaria amounted to 17 743.6 million leva, the NSI said.

In May 2016, Bulgaria’s total exports added up to 3 516.4 million leva, about 5.4 per cent less than the same month of the previous year.

The total value of all the goods imported into Bulgaria in the period January – May 2016 amounted to 19 568.8 million leva (at CIF prices), or seven per cent less than the corresponding period of 2015.

In May 2016, total imports into Bulgaria decreased by 3.2 per cent compared to the same month of the previous year and added up to 4 058.1 million leva.

The total foreign trade balance (exports FOB – import CIF) was negative in the period January – May 2016 and amounted to 1 825.2 million leva, the NSI said.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) in the period January – May 2016, Bulgaria’s total foreign trade balance was also negative and added up 559.1 million leva.

In May 2016, the total foreign trade balance (exports FOB – import CIF) was negative and amounted to 541.7 million leva. The trade balance at FOB/FOB prices was also negative and added up 312.6 million leva.

In the period January – May 2016, Bulgarian exports to third countries decreased by 15.4 per cent in comparison with the same period of 2015 and amounted to 5 752.7 million leva.

Among non-EU countries, the main trading of Bulgaria were Turkey, China, the Republic of Macedonia, Serbia, the United States and Russian Federation, which accounted for 50.7 per cent of exports to non-EU countries.

In May 2016, Bulgarian exports to third countries dropped by 21.3 per cent compared to the corresponding month of the previous year and added up to 1 120.7 million leva.

Bulgarian imports from third countries in the period January – May 2016 decreased by 17.4 per cent in comparison with the same period of 2015 and added up to 6 417.3 million leva (at CIF prices), the NSI said.

The largest amounts were reported for goods imported from the Russian Federation, Turkey, China and Ukraine.

In May 2016, Bulgarian imports from third countries dropped by 9.4 per cent compared to the corresponding month of the previous year and amounted to 1 455.7 million leva.

In the period January – April 2016, Bulgarian exports to other EU countries grew by 3.3 per cent compared to the same period of 2015 and amounted to 9 595.2 million leva while imports from the EU decreased by 1.3 per cent and reached 10 549.1 million leva.

Among other EU countries, the main trading partners of Bulgaria in this period were Germany, Italy, Romania, Greece, France and the Netherlands, which accounted for 69.3 per cent of the exports to EU member states.

In April 2016, Bulgaria’s exports to other EU countries increased by 5.5 per cent in comparison with the corresponding month of the previous year and amounted to 2 535.3 million leva, while imports added up to 2 695.4 million leva, a drop of six per cent, the NSI said.