Bulgaria’s exports to Russia have dropped 25% year-on-year – NSI

Bulgaria’s exports to Russia have dropped 25% year-on-year – NSI

Sofia, December 10, 2015/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Exports from Bulgaria to Russia were 25 per cent lower in January-October 2015 than in January-October 2014, while imports from Russia to Bulgaria dropped by just more than 23 per cent over the same period, according to preliminary figures released by Bulgaria’s National Statistical Institute (NSI) on December 10.

Among non-EU countries, Russia is among Bulgaria’s top seven trading partners, going by the most recent NSI figures.

Stating figures for trade between Bulgaria and non-EU (“third”) countries, the NSI did not ascribe reasons for changes, but like other EU member states, trade with Russia has been affected by sanctions and counter-sanctions over Moscow’s aggression towards Ukraine.

Overall, according to the NSI, in the period January – October 2015 Bulgarian exports to third countries increased by 0.8 per cent compared to the corresponding period of 2014 and amounted to 13.6 billion leva.

The NSI listed the main trading partners of Bulgaria as Turkey, China, Serbia, Russia, the United States, the Republic of Macedonia and Singapore, which accounted for 54.7 per cent of Bulgaria’s exports to non-EU countries.

In October 2015, Bulgarian exports to third countries decreased by 11.8 per cent compared to October 2014 and amounted to 1.343 billion leva.

Bulgarian imports from third countries in the first 10 months of 2015 decreased by 6.2 per cent compared to the corresponding period of 2014 and added up to 15.5 billion leva (at CIF prices).

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

In October 2015, Bulgarian imports from third countries decreased by 9.6 per cent compared to the corresponding month of the previous year and amounted to 1.552 billion leva.

The foreign trade balance of Bulgaria with third countries in the period January – October 2015 was negative and added up to 1 808.2 million leva. The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to 732.6 million leva.

In October 2015, the foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and amounted to 209.0 million leva.

In the ten months of 2015 compared to the corresponding period of 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 ‘Animals and vegetable oils, fats and waxes’ (52.2 per cent) and ‘Miscellaneous manufactured articles’2 (41.4 per cent).

The most notable fall was reported in section ‘Mineral fuel, lubricants and related materials’ (19 per cent). In imports from third countries the largest growths were reported in sections ‘Food and live animals’ (32.8 per cent) and ‘Animals and vegetable oils, fats and waxes’ (30.3 per cent) while the most notable fall was observed in section ‘Beverages and tobacco’ (27 per cent).

Regarding Bulgarian trade with third countries and the EU in total in the period January – October 2015, the value of all exported goods from Bulgaria amounted to 38.1 billion leva and compared to the corresponding period of 2014, exports increased by 5.9 per cent.

In October 2015, Bulgaria’s total exports added up to 4.039 billion leva and increased by 0.2 per cent compared to October 2014.

The total value of all the goods imported in the country in the period January – October 2015 amounted to 42.8 billion leva (at CIF prices), 1.1 per cent more than the corresponding period of 2014. In October 2015, total imports decreased by 0.8 per cent compared to October 2014 and added up to 4.628 billion leva.

The total foreign trade balance (exports FOB – import CIF) was negative in the period January – October 2015 and amounted to 4 696.3 million leva which was 1 677.5 million leva less than the balance in the 10 months of 2014.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) in the period January – October 2015, the total foreign trade balance was also negative and amounted to 1 838.9 million leva.

In October 2015 the total foreign trade balance (exports FOB – import CIF) was negative and added up to 589.2 million leva. The trade balance at FOB/FOB prices was negative and amounted to 334.9 million leva.