Bulgaria’s foreign trade balance in January – November 2014 was negative – statistics institute

Bulgaria’s foreign trade balance in January – November 2014 was negative – statistics institute

Sofia, February 9, 2015/ Independent Balkan News Agency

By Clive Leviev-Sawyer of the Sofia Globe

Bulgaria had negative trade balances with both EU and non-EU countries in January to November 2014, although it showed a slight improvement in exports to other EU countries.

In January to November 2014, Bulgarian exports to the EU increased by 2.1 per cent compared to January to November 2013 and amounted to 24.9 billion leva, the National Statistics Institute said on February 9 2015, citing preliminary figures.

Among EU countries, the main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium. These accounted for 71 per cent of Bulgaria’s exports to other EU member states.

In November 2014, Bulgaria’s exports to the EU decreased by 0.4 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 – November 2014 increased by 3.5 per cent compared to the corresponding period of the previous year and added up to 28.6 Billion leva at CIF prices.

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

In November 2014, Bulgarian imports from other EU member states increased by 5.7 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 – November 2014 was negative and added up to 3 761.1 million leva, the NSI said.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 2 602.6 million leva.

In 2014, Bulgarian exports to third countries decreased by 6.6 per cent compared to 2013 and amounted to 16.3 billion leva, the NSI said.

The main trade partners of Bulgaria were Turkey, Singapore, China, Russian Federation, Serbia and Macedonia which accounted for 53.1 per cent of the exports to non-EU countries.

In December 2014, exports to third countries decreased by 0.8 per cent compared to the corresponding month of the previous year and amounted to 1.4 billion leva.

Bulgarian imports from third countries in 2014 decreased by 3.2 per cent compared to 2013 and added up to 19.7 billion leva (at CIF prices).

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

In December 2014, Bulgarian imports from third countries increased by 6.7 per cent compared to the corresponding month of the previous year and amounted to 1.6 Billion leva.

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries in 2014 was negative and added up to 3 398.7 million leva. The trade balance at FOB/FOB prices (after elimination of transport and insurance costs on imports) was also negative and amounted to 2 471.4 million leva.

In December 2014, the foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and amounted to 236.8 million leva, according to the NSI.