Bulgarian exports to EU up but trade balance still negative

Bulgarian exports to EU up but trade balance still negative

Sofia, July 9, 2015/ Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Bulgarian exports to other European Union countries were 12.3 per cent higher in January to April 2015 than in January to April 2014, the National Statistical Institute (NSI) said on July 9.

In the first four months of 2015, Bulgarian exports to other EU countries added up to 9.3 billion leva (about 4.75 billion euro), the NSI said, citing preliminary figures.

The main trading partners of Bulgaria were Germany, Italy, Romania, Greece, Belgium and France which accounted for 69.8 per cent of the country’s exports to other EU member states.

In April 2015, exports to the EU increased by 13.2 per cent compared to the corresponding month of the previous year and amounted to 2.4 billion leva

Bulgarian imports from the EU in the period January – April 2015 increased by 7.6 per cent compared to the same period of 2014 and added up to 10.7 Billion leva at CIF prices. The largest amounts were reported for the goods imported from Germany, Italy, Romania, Spain and Greece.

In April 2015, Bulgarian imports from EU member states increased by 8.8 per cent compared to the corresponding month of the previous year and amounted to 2.9 billion leva at CIF prices.

The foreign trade balance of Bulgaria (export FOB – import CIF) with the EU in the period January – April 2015 was negative and added up to 1 401.4 million leva.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 965.8 million leva.

In the first four 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 recorded in the sections ‘Crude materials, inedible (except fuel)’ (33.2 per cent) and ‘Mineral fuel, lubricants and related materials’ (32.3 per cent) .

A decrease was recorded in section ‘Beverages and tobacco’ (15.6 per cent). In imports from the EU the largest growths were reported in the sections ‘Machinery and transport equipment’ (15 per cent) and ‘Beverages and tobacco’ (14.4 per cent) while the most notable fall was observed in section ‘Mineral fuel, lubricants and related materials’ (37 per cent).