Bulgarian exports to other EU countries up 7.2 per cent in 2016, trade balance negative

Written by on March 14, 2017 in Business - Comments Off on Bulgarian exports to other EU countries up 7.2 per cent in 2016, trade balance negative

Bulgaria’s exports to other European Union countries in 2016 were 7.2 per cent higher than in 2015, but the country’s trade balance was negative, according to preliminary data released by the National Statistical Institute (NSI) on March 13.

In 2016 Bulgarian exports to the other EU countries added up to 31.1 billion leva.

Bulgaria’s main trading partners among other EU countries were Germany, Italy, Romania, Greece and France which accounted for 63.8 per cent of exports to EU member states.

In December 2016, Bulgaria’s exports to the EU increased by 12.8 per cent compared to the corresponding month of the previous year and added up to 2 439.9 million leva.

In 2016 in comparison with 2015 the largest growths in the exports of Bulgaria to the EU distributed according to the Standard International Trade Classification were recorded beverages and tobacco (27.8 per cent) and chemical and related products (21.9 per cent).

The most notable fall was recorded in the mineral fuel, lubricants and related materials category (13.8 per cent), the NSI said.

Bulgarian imports from the EU in 2016 increased by 2.4 per cent compared to the previous year and reached 33 938.5 million leva at CIF prices.

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

In December 2016, Bulgarian imports from EU countries grew by 6.3 per cent in comparison with December 2015 and amounted to 3 045.2 million leva.

In 2016 compared to 2015 the largest growth in imports from the EU distributed according to the Standard International Trade Classification was beverages and tobacco (9.3 per cent) while the most notable fall was in crude materials, inedible (except fuel)’ (14.9 per cent).

The foreign trade balance of Bulgaria (export FOB – import CIF) with the EU in 2016 was negative and added up to 2 785.4 million leva. At FOB/FOB prices (after elimination of transport and insurance costs on imports) the trade balance was also negative and amounted to 1 187.7 million leva.

In January 2017, Bulgarian exports to non-EU countries increased by 12.7 per cent compared to the same month of 2016 and amounted to 1 312.1 Million leva while imports grew by 30.8 per cent and added up to 1 574.9 million leva.

In January 2017, the total value of all exported goods (both for third countries and EU) amounted to 3 724.0 million leva and in comparison with the corresponding period of the previous year the exports increased by 8.7 per cent while the total value of all imported goods added up to 4 206.9 million leva and grew by 21.2 per cent, the NSI said.

(Photo: Frank Schwichtenberg)

/Business

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