Bulgarian exports to non-EU countries fell by close to 15% y/y in January-May 2014

Bulgarian exports to non-EU countries fell by close to 15% y/y in January-May 2014

 

By Clive Leviev-Sawyer of the Sofia Globe

Bulgarian exports to third countries, meaning those that are not members of the European Union, fell by 14.8 per cent year-on-year in January to May 2014, the National Statistical Institute (NSI) said.

Bulgaria’s exports to third countries in the first five months of 2014 added up to 6.1 billion leva (about three billion euro), the NSI said.

The main trade partners of Bulgaria were Turkey, China, Singapore, Russian Federation, Macedonia and United Arab Emirates which accounted for 54.4 per cent of the exports to non EU countries.

In May 2014 exports to third countries decreased by 0.6 per cent compared to May 2013 and amounted to 1.4 billion leva.

Bulgarian imports from third countries in the first five months of 2014 decreased by 5.2 per cent compared to the corresponding period of 2013 and added up to 7.8 billion leva (at CIF prices).

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

In May 2014 Bulgarian imports from third countries increased by 0.5 per cent compared to the corresponding month of the previous year and amounted to 1.8 billion leva.

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries for the period

January – May 2014 was negative and added up to 1.77 billion leva.

The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to 1.36 billion leva.

In May 2014 the foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and amounted to 350.8 million leva, the NSI said.

The NSI figures on trade with third countries came soon after those for export-import relations with other EU states, which also showed a drop in Bulgaria’s exports.

Bulgarian exports to other European Union countries in January to April 2014 were 0.9 per cent less than in the first four months of 2013, amounting to 8.3 billion leva, according to figures released on July 9 by the NSI.

The main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium, which accounted for 72.3 per cent of Bulgaria’s exports to EU member states, the NSI said.

In April 2014, Bulgarian exports to other EU countries decreased by 3.5 per cent compared to April 2013 and amounted to 2.1 billion leva.