Bulgaria reports year-on-year increase in exports to rest of EU

Bulgaria reports year-on-year increase in exports to rest of EU

Sofia, December 9, 2015/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Bulgarian exports to other European Union countries were 9.2 per cent higher in January to September 2015 than in the same period of 2014, the National Statistical Institute (NSI) said on December 9.

In January – September 2015, Bulgarian exports to other EU member states amounted to 21.7 billion leva, the NSI said.

Bulgaria’s main trading partners were Germany, Italy, Romania, Greece, France and Belgium which accounted for 69.4 per cent of exports to other EU countries.

In September 2015, Bulgaria’s exports to the EU increased by 4.5 per cent compared to the corresponding month of the previous year and amounted to 2.485 billion leva, according to the NSI.

Bulgarian imports from the EU in the period January – September 2015 increased by 5.9 per cent compared to the same period of 2014 and added up to 24.3 nillion leva at CIF prices. The largest amounts were reported for goods imported from Germany, Italy, Romania, Spain and Greece.

In September 2015, Bulgarian imports from other EU member states decreased by 2.9 per cent compared to the corresponding month of the previous year and amounted to 2.673 billion leva at CIF prices.

The foreign trade balance of Bulgaria (export FOB – import CIF) with the EU in the period January – September 2015 was negative and added up to 2 507.9 million leva. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 879.9 million leva.

In the nine months of 2015 compared to the same period of 2014 the largest growth in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification was chemical and related products (22 per cent) and mineral fuel, lubricants and related materials (20.8 per cent).

A decrease was recorded in exports of beverages and tobacco (5.4 per cent), the NSI said.

In imports from the EU, the largest growth was reported in the section beverages and tobacco (22.5 per cent) while the most notable fall was observed in mineral fuel, lubricants and related materials (24.7 per cent).