Bulgaria’s exports in 2016 were five per cent higher than in 2015 – statistics institute

Written by on September 12, 2017 in Business - Comments Off on Bulgaria’s exports in 2016 were five per cent higher than in 2015 – statistics institute

Bulgaria’s exports in 2016 added up to 47.1 billion leva, a figure about five per cent higher than in 2015, the National Statistical Institute (NSI) said on September 12, reporting final data.

The highest growth in exports was in December, 20 per cent, and the largest decrease in March, 7.7 per cent, the NSI said.

Compared with 2015, exports from Bulgaria to other European Union member states increased by 7.3 per cent, and to “third countries” – meaning, non-EU countries – by 0.8 per cent. However, in both cases, the trade balance was negative.

In 2016, imports into Bulgaria added up to 51.2 billion leva, about 0.7 per cent less than in 2015.

The foreign trade balance (exports FOB – import CIF) was negative in 2016 and amounted to 4 019.9 million leva, a figure 2 579.6 million leva less than the balance in 2015.

At FOB/FOB prices (after elimination of transport and insurance costs on imports) the negative balance in 2016 added up to 782.7 million leva.

The largest increase in exports was in the category “miscellaneous manufactured articles” (20 per cent), the NSI said, while the most notable fall was in the “mineral fuel, lubricants and related materials” section, 12 per cent.

In imports, the largest increase in “miscellaneous manufactured articles” (11.4 per cent) and the most notable decrease in “mineral fuel, lubricants and related materials” (20.7 per cent), the NSI said.

The NSI said that in 2016, Bulgaria’s exports to other EU countries added up to 31.15 million leva.

Among other EU countries, Bulgaria’s main trading partners were Germany, Italy, Romania, Greece, France and Spain which accounted for 68 per cent of exports elsewhere in the bloc.

Bulgarian imports from other EU countries in 2016 increased by 2.5 per cent compared to 2015 and added up to 33 989.3 million leva. More than half came from Germany, Italy, Romania, Greece and Poland.

The foreign trade balance (exports FOB – import CIF) of Bulgaria with other EU countries was negative and amounted to 2 831.7 million leva in 2016.

The exports of Bulgaria to the EU distributed according to the Standard International Trade Classification showed that in 2016 compared to 2015 the largest increase was observed in exports in the “beverages and tobacco’” category (28 per cent).

The most notable decrease was recorded in the “mineral fuel, lubricants and related materials” section (13.9 per cent). The largest growth in imports from the EU was beverages and tobacco (9.5 per cent), while the most notable fall was observed in the “crude materials, inedible (except fuel)” category (13.2 per cent).

In 2016, Bulgarian exports to third countries added up to 16 028.7 million leva.

Among non-EU countries, Bulgaria’s main trading partners were Turkey, China, the Republic of Macedonia, Russia, Serbia, the United States and Egypt which accounted for 50.8 per cent of total exports to countries outside the bloc.

Bulgarian imports from third countries in 2016 decreased by 6.4 per cent, compared to the previous year, and amounted to 17 216.9 million leva. The largest amounts were reported for goods imported from Russia, Turkey, China, Ukraine and Serbia – 65.9 per cent of the total exports from non-EU countries.

The foreign trade balance of Bulgaria (export FOB – import CIF) with third countries was negative and added up to 1 188.2 million leva in 2016, the NSI said.

(Photo: Jorge Vicente/freeimages.com)

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