Bulgaria’s exports to EU, third countries, up – but trade deficit remains

Bulgaria’s exports to EU, third countries, up – but trade deficit remains

Sofia, September 11, 2015/ Independent Balkan News Agency

By Clive Leviev- Sawyer of The Sofia Globe

Bulgaria has reported a 12.4 per cent increase year-on-year in January to June 2015 to other European Union countries, and an 8.3 per cent increase year-on-year in January to July to non-EU countries, but in both cases trade deficits remain.

This is according to figures released on September 11 2015 by the National Statistical Institute (NSI).

In January – June 2015, Bulgarian exports to the EU increased by 12.4 per cent compared to the corresponding period of 2014 and amounted to 14.2 billion leva

Among EU countries, Bulgaria’s main trading partners were Germany, Italy, Romania, Greece, France and Belgium, which accounted for 70.5 per cent of the exports to other EU member states.

In June 2015, Bulgaria’s exports to the rest of the EU increased by 12.9 per cent compared to the corresponding month of the previous year and amounted to 2.6 billion leva.

Bulgarian imports from the EU in the period January – June 2015 increased by 7.8 per cent compared to the same period of 2014 and added up to 16.1 billion leva at CIF prices.

The largest amounts were reported for goods imported from Germany, Italy, Romania, Spain and Greece.

In June 2015, Bulgarian imports from other EU member states increased by 6.8 per cent compared to the corresponding month of the previous year and amounted to 2.8 billion leva at CIF prices.

The foreign trade balance of Bulgaria (export FOB – import CIF) with the EU in the period January – June 2015 was negative and added up to 1 943.6 million leva. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 861.7 million leva.

In the January – July 2015 period, Bulgarian exports to third countries increased by 8.3 per cent compared to the corresponding period of 2014 and amounted to 9.7 billion leva.

Among non-EU countries, the main trading partners of Bulgaria were Turkey, China, Singapore, Serbia, Russian Federation, the US and the Republic of Macedonia, which accounted for 55.4 per cent of exports to non-EU countries.

In July 2015, Bulgaria’s exports to third countries increased by 7.1 per cent compared to the corresponding month of the previous year and amounted to 1.5 billion leva.

Bulgarian imports from third countries in the first seven months of 2015 increased by 0.3 per cent compared to the corresponding period of 2014 and added up to 11 billion leva (at CIF prices).

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

In July 2015, Bulgarian imports from third countries increased by 1.4 per cent compared to the corresponding month of the previous year and amounted to 1.7 billion leva.

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries in the period January – July 2015 was negative and added up to 1 309.8 million leva.

The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to 534.5 Million leva. In July 2015 the foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and amounted to 182.1 million leva.

 

(Photo: Port of Varna: Clive Leviev-Sawyer)