Bulgaria reports increased exports to non-EU countries in January 2016, but trade balance negative

Bulgaria reports increased exports to non-EU countries in January 2016, but trade balance negative

Sofia, March 11, 2016/ Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

January 2016 saw Bulgarian exports to third countries – meaning, non-EU countries – increase by 6.34 per cent compared with January 2015, but the trade balance remained negative, according to the National Statistical Institute (NSI).

Bulgarian exports to third countries in January 2016 amounted to 1.164 billion leva, the NSI said.

Among non-EU countries, Bulgaria’s main trading partners in January 2016 were Turkey, China, Egypt, the Republic of Macedonia, Serbia, the United States and Russia, which accounted for 56.1 per cent of the exports to non-EU countries.

Bulgarian imports from third countries in January 2016 decreased by 17.8 per cent compared to the corresponding month of 2015 and added up to 1.203 billion leva (at CIF prices). The largest amounts were reported for goods imported from the Russian Federation, Turkey, China and Ukraine

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries in January 2016 was negative and added up to 39.1 million leva.

The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was positive and amounted to 39.7 million leva.

In January 2016, compared to the corresponding month of 2015 in the exports of Bulgaria to third countries distributed according to the Standard International Trade Classification the largest growths were recorded in the sections ‘Miscellaneous manufactured articles’2 (166.6 per cent) and ‘Animals and vegetable oils, fats and waxes’ (54.7 per cent), the NSI said.

The most notable fall was reported in section ‘Food and live animals’ (27.5 per cent). In imports from third countries the largest growths were reported in sections ‘Animals and vegetable oils, fats and waxes’ (23.1 per cent) and ‘Miscellaneous manufactured articles’ (20.3 per cent) while the most notable fall was observed in section ‘Crude materials, inedible (except fuel)’ 3 (64.7 per cent).

In January 2016 the value of all exported goods from Bulgaria amounted to 3.424 billion leva and compared to the corresponding month of the previous year the exports increased by one per cent.

The total value of all the goods imported in the country in January 2016 amounted to 3.464 billion leva (at CIF prices), or 8.3 per cent less than the corresponding month of 2015

The total foreign trade balance (exports FOB – import CIF) was negative in January 2016 and amounted to 39.8 million leva which was 345.7 Million leva less than the balance in the first month of 2015.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) in January 2016 the total foreign trade balance was positive and amounted to 152. million leva, the National Statistical Institute said.

 

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