Bulgarian exports to Russia fell close to 25% in 2015 – NSI

Bulgarian exports to Russia fell close to 25% in 2015 – NSI

Sofia, February 9, 2016/ Independent Balkan News Agency

By Clive Leviev Sawyer of The Sofia Globe

Bulgaria’s exports to Russia were down 24.7 per cent year-on-year in 2015 while imports from Russia decreased by 20.3 per cent, Bulgaria’s National Statistical Institute (NSI) said on February 9 2016, citing preliminary figures.

Exports to Russia in 2015 added up to 776.1 million leva, down from more a billion leva in 2014, the NSI said.

Imports from Russia were more than 6.1 billion leva in 2015, down from more than 7.7 billion leva in 2014.

Still, in figures for exports to non-EU countries in 2015, Russia ranked fourth, and in imports from non-EU countries, it was in first place, according to the NSI’s preliminary data.

Though not stated in the NSI summary, the downturn in trade took place against a background of Bulgaria, as an EU member state, being involved in the bloc’s sanctions against Russia because of that country’s actions in Ukraine, and Russia’s counter-sanctions.

In 2015, Bulgarian exports to third countries increased by 0.6 per cent compared to 2014 and amounted to 16.4 bllion leva, the NSI said.

Bulgaria’s main trading partners among non-EU countries were Turkey, China, Serbia, Russian Federation, the Republic of Macedonia, the US and Egypt, which accounted for 53.9 per cent of the exports to non-EU countries.

In December 2015, Bulgarian exports to third countries increased by 3.2 per cent compared to the corresponding month of the previous year and amounted to 1.413 billion leva.

Bulgarian imports from third countries in 2015 decreased by 5.9 per cent compared to 2014 and added up to 18.4 billion leva. The largest amounts were reported for goods imported from the Russian Federation, Turkey, China and Ukraine.

In December 2015, Bulgarian imports from third countries decreased by 8.0 per cent compared to the corresponding month of the previous year and amounted to 1.436 billion leva.

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries in 2015 was negative and added up to 2 013.0 million leva. The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to 698.8 million leva.

In December 2015, the foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and amounted to 23.2 million leva.

In 2015 compared to 2014, 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 (41.3 per cent) and ‘Animals and vegetable oils, fats and waxes’ (40.4 per cent). The most notable fall was reported in section ‘Mineral fuel, lubricants and related materials’ (20.3 per cent). In imports from third countries the largest growths were reported in sections ‘Food and live animals’ (33.5 per cent) and ‘Animals and vegetable oils, fats and waxes’ (27.1 per cent) while the most notable fall was observed in section ‘Beverages and tobacco’ (26.4 per cent)

In 2015, the value of all exported goods from Bulgaria amounted to 45.5 billion leva and compared to 2014, the exports increased by 5.2 per cent.

In December 2015, total exports added up to 3.574 billion leva and increased by 4.4 per cent compared to the corresponding month of the previous year.

The total value of all the goods imported in the country in 2015 amounted to 51.7 billion leva (at CIF prices), or by 1.1 per cent more than 2014.

In December 2015, total imports decreased by 2.1 per cent compared to the same month of the previous year and added up to 4.292 billion leva.

The total foreign trade balance (exports FOB – import CIF) was negative in 2015 and amounted to 6 175.3 million leva which was 1 688.6 million leva less than the balance in 2014.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) in 2015 the total foreign trade balance was also negative and amounted to 2 683.4 million leva.

In December 2015, the total foreign trade balance (exports FOB – import CIF) was negative and added up to 718.5 million leva. The trade balance at FOB/FOB prices was negative and amounted to 458.5 million leva, the NSI said.