Bulgarian exports to EU drop 0.9% year-on-year in January – April 2014

Written by on July 9, 2014 in Business - Comments Off on Bulgarian exports to EU drop 0.9% year-on-year in January – April 2014

Bulgarian exports to other European Union countries in January to April 2014 were 0.9 per cent less than in the first four months of 2013, amounting to 8.3 billion leva, according to figures released on July 9 by the National Statistical Institute (NSI).

The main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium, which accounted for 72.3 per cent of Bulgaria’s exports to EU member states, the NSI said.

In April 2014, Bulgarian exports to other EU countries decreased by 3.5 per cent compared to April 2013 and amounted to 2.1 billion leva.

Bulgarian imports from the EU in January to April 2014 increased by 4.6 per cent compared to January – April 2013 and added up to 9.9 billion leva at CIF (cost insurance and freight) prices. The largest amounts were reported for goods imported from Germany, Italy, Romania, Spain
and Greece.

In April 2014, Bulgarian imports from other EU member states increased by 0.6 per cent compared to the corresponding month of the previous year and amounted to 2.6 billion leva at CIF prices.

The foreign trade balance of Bulgaria (export FOB – import CIF) with the EU in the period January – April 2014 was negative and added up to 1 666.8 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 1212.9 million leva.

In the first four months of 2014 compared to the corresponding period of the previous year, the largest growth (49.9 per cent) in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification was recorded in the section “Animals and vegetable oils, fats and waxes”. The most notable fall was recorded in sections “Mineral fuel, lubricants and related materials” (28.3 per cent) and “Beverages and tobacco” (19.6 per cent), the NSI said.

In imports from the EU the largest growth (21.5 per cent) was reported in section “Mineral fuel, lubricants and related materials” while the most notable fall (6.7 per cent) was observed in section “Crude materials, inedible (except fuels)”, according to the NSI.

(Port of Varna East. Photo: Gramatikoff)

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