Bulgaria’s foreign trade balance improved in January-April 2015, but still negative

Bulgaria’s foreign trade balance improved in January-April 2015, but still negative

Sofia, June 9, 2015/ Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

Bulgaria’s foreign trade balance in January to April 2015 came in at about 2.2 billion leva, more than 830 million leva less than in January to April 2014 but still negative, according to figures released by the National Statistical Institute on June 9.

Bulgaria January-April 2015 trade with both EU and non-EU countries saw the value of all exported goods from Bulgaria amounting to 14.6 billion leva, a figure 12.8 per cent higher than in the first four months of 2014.

In April 2015, Bulgaria’s total exports added up to 3.9 billion leva, a 12.8 per cent increase compared to April 2014.

The total value of all the goods imported in the country in the period January – April 2015 amounted to 16.8 billion leva (at CIF prices), or 5.2 per cent more than the corresponding period of 2014.

In April 2015, total imports increased by 4.9 per cent compared to April 2014 and added up to 4.5 billion leva.

The total foreign trade balance (exports FOB – import CIF) was negative in the period January – April 2015 and amounted to 2 201.6 million leva which was 830.8 million leva less than the balance in the first four months of 2014.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) in the period January – April 2015 the total foreign trade balance was also negative and amounted to 1 460.2 million leva.

In April 2015, the total foreign trade balance (exports FOB – import CIF) was negative and added up to 621.5 million leva. The trade balance at FOB/FOB prices was also negative and amounted to 401.9 million leva.

In period January – March 2015, Bulgarian exports to the EU increased by 12 per cent compared to the corresponding period of 2014 and amounted to 6.9 billion leva.

The main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 69.9 per cent of the exports to other EU member states.

In March 2015, exports to the EU increased by 11.3 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 – March 2015 increased by 7.2 per cent compared to the same period of 2014 and added up to 7.8 billion leva at CIF prices.

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

In March 2015, Bulgarian imports from other EU member states increased by 14.4 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 – March 2015 was negative and added up to 938.8 million leva.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 621.1 million leva.

In the first three 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 ‘Mineral fuel, lubricants and related materials’ (45 per cent) and ‘Crude materials, inedible (except fuel)’ 2 (44.0 per cent).

A fall was recorded in section ‘Beverages and tobacco’ (23.7 per cent).

In imports from the EU, the largest growths were reported in the sections ‘Beverages and tobacco’ (22 per cent) and ‘Manufactured goods classified chiefly by material’ (14.8 per cent) while the most notable fall was observed in section ‘Mineral fuel, lubricants and related materials’ (36.3 per cent).

In the period January – April 2015, Bulgarian exports to third countries increased by 13.8 per cent compared to the corresponding period of 2014 and amounted to 5.4 billion leva.

The main trade partners of Bulgaria among non-EU countries were Turkey, China, Serbia, Singapore, USA and Russian Federation which accounted for 51 per cent of the exports to non-EU countries.

In April 2015, exports to third countries increased by 12.8 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 four months of 2015 increased by 1.3 per cent compared to the corresponding period of 2014 and added up to 6.2 Billion leva (at CIF prices).

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

In April 2015, Bulgarian imports from third countries decreased by 0.8 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 – April 2015 was negative and added up to 799.2 million leva.

The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to 518.2 million leva.

In April 2015 the foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and amounted to 157.9 million leva, the NSI said.